Gluten-free cassava flour cake project wins startup contest in HCMC

By Lan Do
Tue, November 12, 2024 | 3:10 pm GMT+7

Cusami, a project in Ho Chi Minh City’s Cu Chi district that specializes in creating different types of cakes with cassava flour, has won first prize at the 2024 green startup ideas/project competition.

Results of the contest organized by the Business Association of High Quality Vietnamese Products and the Business Studies and Assistance Centre (BSA) in HCMC were announced Sunday.

In group A, which featured individuals or startup groups with projects under one year old, the Cusami project won the first prize of VND60 million ($2,370). It is being implemented by Yam Kitchen Co., Ltd. in HCMC, founded and led by Mai Tuan Anh.

Cusami creates “international-style” dishes with cassava (also known as manioc) cultivated in Cu Chi district. The root is processed to make flour for making mozzarella cheese cakes, molten salted egg lava cakes and sweet-and-sour Taiwanese pineapple jam.

The project looks to serve health-conscious customers who are looking to lose weight or avoid gluten. Cassava flour is a slow-digesting starch, making it an ideal alternative for gluten-free diets.

Mai Tuan Anh, founder of Yam Kitchen Co. Ltd, wins the first prize of VND60 million ($2,370) in Group A category at the Green startup ideas/project competition in Ho Chi Minh City, November 10, 2024. Photo courtesy of Business Studies and Assistance Centre (BSA).

Mai Tuan Anh, founder of Yam Kitchen Co. Ltd, wins the first prize of VND60 million ($2,370) in Group A category at the Green startup ideas/project competition in Ho Chi Minh City, November 10, 2024. Photo courtesy of Business Studies and Assistance Centre (BSA).

Anh said the company was guiding farmers in the Phu My Hung commune to grow cassava under VietGap and GlobalGap standards to ensure that the raw material meets export requirements.

The global gluten-free market is valued at $8 billion, with the diet market reaching $109 billion, largely driven by Western consumers.

In the future, Cusami plans to participate in the city’s One Commune One Product (OCOP) program.

The project is a departure from how cassava is traditionally consumed in Vietnam – boiled, steamed in coconut milk and so on.

In Group B for projects which have been operating for over four years, the first-place prize of VND150 million ($5,940) was awarded to Nong Trai 123 Co., Ltd. in Dong Thap province for their project “Enhancing the value of kumquat, grapefruit, and soursop.”

Among other award winners, the project “Activated carbon, toothpaste from activated carbon and air filter bags” developed by Thong Long, a Raglay farmer specializing in charcoal burning, and his colleagues, took home the VND40 million ($1,582) second-place prize in group A.

The final round of this year’s green startup competition saw 36 projects competing across two groups: group A with 12 projects and group B with 24 projects.

Comments (0)
  • Read More
Billionaire Pham Nhat Vuong's son takes helm at VinMetal as Vingroup pledges support for loss-making steel producer Pomina

Billionaire Pham Nhat Vuong's son takes helm at VinMetal as Vingroup pledges support for loss-making steel producer Pomina

Vingroup, Vietnam's biggest listed company by market cap, said its steel subsidiary VinMetal will provide Pomina Steel with a zero-interest working capital loan for up to two years, helping the troubled steelmaker stabilize operations and restore cash flow.

Companies - Wed, November 26, 2025 | 12:38 pm GMT+7

HAGL chairman says he sold 'everything possible' to save the company

HAGL chairman says he sold 'everything possible' to save the company

Hoang Anh Gia Lai (HAGL) has successfully restructured with its debt reduced from VND36 trillion ($1.37 billion) to over VND6 trillion ($227.5 million), now focusing on developing raw material areas to gain scale advantages.

Companies - Wed, November 26, 2025 | 8:18 am GMT+7

Vingroup subsidiary VinMetal may acquire loss-making steel producer Pomina: broker

Vingroup subsidiary VinMetal may acquire loss-making steel producer Pomina: broker

Ho Chi Minh City Securities (HSC) analysts said a potential acquisition of steel manufacturer Pomina could be a strategic move that allows VinMetal to gain a faster foothold in the steel industry by using Pomina’s existing construction steel capacity.

Companies - Tue, November 25, 2025 | 8:05 pm GMT+7

Vingroup plans $38 mln bond issuance to restructure debt

Vingroup plans $38 mln bond issuance to restructure debt

Vingroup (HoSE: VIC), Vietnam’s largest listed company by market cap, plans to issue VND1 trillion ($37.91 million) in bonds via private placement as it seeks to restructure debt.

Companies - Tue, November 25, 2025 | 3:52 pm GMT+7

Vietnam gov't proposes minimum $379 mln charter capital for offshore wind developers

Vietnam gov't proposes minimum $379 mln charter capital for offshore wind developers

The Vietnamese government has proposed that offshore wind power developers have a minimum charter capital of VND10 trillion ($379 million) each, according to a draft resolution designed to ease bottlenecks in the country’s 2026-2030 energy development plan.

Energy - Tue, November 25, 2025 | 3:41 pm GMT+7

Petrovietnam arm to venture into CO2 transportation, seabed minerals, geothermal

Petrovietnam arm to venture into CO2 transportation, seabed minerals, geothermal

PVEP, the upstream arm of state giant Petrovietnam, plans to expand into new fields such as CO2 transportation and disposal (carbon capture, utilization, and storage), coal gas and underground mineral research, seabed minerals, and geothermal.

Industries - Tue, November 25, 2025 | 3:08 pm GMT+7

MB successfully closes landmark $500 mln inaugural green term loan facility agreement

MB successfully closes landmark $500 mln inaugural green term loan facility agreement

Military Commercial Joint Stock Bank (MB) on Monday announced the successful closing of its three-year $500 million inaugural Green Term Loan Facility Agreement, marking a significant milestone in the bank’s sustainable financing journey.

Banking - Tue, November 25, 2025 | 2:17 pm GMT+7

Impact of rising exchange rates in Vietnam

Impact of rising exchange rates in Vietnam

Mirae Asset Securities analysts offer an insight into the impact of rising exchange rates on companies in Vietnam in a report dated November 21.

Economy - Tue, November 25, 2025 | 1:35 pm GMT+7

Vietnam's industrial park developers post strong earnings as tenant demand rebounds

Vietnam's industrial park developers post strong earnings as tenant demand rebounds

Vietnam’s industrial real estate sector is showing stronger earnings and improving demand, with foreign tenants resuming lease negotiations after U.S. tariff policies became clearer, according to a brokerage report.

Industrial real estate - Tue, November 25, 2025 | 11:07 am GMT+7

Vietnamese export stocks under the radar despite strong earnings

Vietnamese export stocks under the radar despite strong earnings

Investor caution over tariff risks and the slowdown of major economies has prevented Vietnamese export stocks from making a strong price recovery.

Finance - Tue, November 25, 2025 | 8:44 am GMT+7

Indonesia plans 7 initial waste-to-energy plants next year

Indonesia plans 7 initial waste-to-energy plants next year

Indonesia will start the construction of seven waste-to-energy power plants in 2026 as the first step to develop 33 such facilities by 2029.

Southeast Asia - Mon, November 24, 2025 | 9:23 pm GMT+7

Malaysia predicted to be ASEAN’s second-fastest-growing economy, after Vietnam

Malaysia predicted to be ASEAN’s second-fastest-growing economy, after Vietnam

Malaysia is poised to become the second-fastest-growing economy in the Association of Southeast Asian Nations (ASEAN) after Vietnam, data showed.

Southeast Asia - Mon, November 24, 2025 | 9:19 pm GMT+7

Thailand SCG-backed Bien Hoa Packaging plans delisting from HCMC bourse

Thailand SCG-backed Bien Hoa Packaging plans delisting from HCMC bourse

Bien Hoa Packaging JSC, a 57-year-old manufacturer in Vietnam, plans to scrap its public-company status and delist from the Ho Chi Minh Stock Exchange (HoSE) as its free float fell below the minimum threshold under local securities law.

Companies - Mon, November 24, 2025 | 9:06 pm GMT+7

Real estate, industrials sectors lead in October M&A value in Vietnam

Real estate, industrials sectors lead in October M&A value in Vietnam

Grant Thornton analysts provide an insight to capital flows, the sectors attracting investor attention, and the market dynamics influencing the merger and acquisition (M&A) landscape in Vietnam in October.

Economy - Mon, November 24, 2025 | 4:39 pm GMT+7

Tobacco giant Vinataba to sell entire stake in instant noodle maker Colusa-Miliket

Tobacco giant Vinataba to sell entire stake in instant noodle maker Colusa-Miliket

State-owned Vietnam National Tobacco Corporation (Vinataba) plans to divest its entire 20% stake in Colusa-Miliket, the company behind the iconic “Miliket” (two-shrimp) instant noodle brand, seeking to raise at least VND114 billion ($4.32 million).

Companies - Mon, November 24, 2025 | 4:10 pm GMT+7

VinSpeed cannot participate in North-South high-speed rail project under PPP model: exec

VinSpeed cannot participate in North-South high-speed rail project under PPP model: exec

Pham Nhat Vuong, founder of VinSpeed High-Speed Rail Investment and Development JSC, has mapped out a clear 30-year financing plan for the gigantic North-South high-speed rail project, said an executive at Vingroup, a VinSpeed investor.

Infrastructure - Mon, November 24, 2025 | 3:51 pm GMT+7