At the event (Photo: congthuong.vn)

Hanoi (VNA) – Japanese-based retail giant AEON is targeting bulk purchases of high-quality materials from Vietnam, Shiotani Yuichiro, General Director of AEON Topvalu Vietnam, said at a conference to connect Vietnamese firms with AEON’s supply chain held in Hanoi on April 25.

AEON wants to shift its material zones from China to several Southeast Asian countries like Cambodia, Myanmar and Vietnam which offer lower prices, he said, adding that the corporation is planning to expand production of instant noodle, fried buns, and products made of chickens and salmons.

He stressed that the conference helps realise the Memorandum of Understanding on supporting the export of Vietnamese products to the Japanese market through the distribution system of AEON inked between the Ministry of Industry and Trade (MoIT) and AEON. Under the MoU, AEON committed to raising Vietnam’s export turnover to 500 million USD in 2020 and one billion USD in 2025.

According to Nguyen Thi Mai Anh, Vice Director of the Hanoi Investment, Trade and Tourism Promotion Centre, the centre has accompanied the MoIT in a project to enhance the engagement of Vietnamese firms in the foreign distribution system by 2020.

Only six Vietnamese products were introduced at AEON supermarkets at the AEON good week event in Japan last year, however, they brought home nearly 6 billion VND (258,700 USD) in revenue, she said, adding that AEON, the MoIT and her centre will organise the same event in June this year at AEON’s 40 supermarkets, targeting 10 billion VND (431,000 USD) in earning.

Vietnamese firms should be well prepared before breaking in Japan- a choosy market that has strict requirements for product quality and competitive prices, she added.

At the conference, AEON experts gave consultations to the Vietnamese suppliers on technical standards and product quality with specific goods so that they can enter AEON’s supply chain.-VNA