HCM City (VNS/VNA) - Vietnam has transformed itself to emerge as a major global production hub capable of supplying a wide range of products at competitive prices and with improving quality, Deputy Minister of Industry and Trade Phan Thi Thang said at the Export Forum on Connecting International Supply Chains in Ho Chi Minh City on June 6.
“Additionally, after the COVID-19 pandemic and amid current geopolitical - economic uncertainties, many corporations and retail/wholesale channels are stepping up diversification to ensure supply chain sustainability, and Vietnam has been chosen as a strategic destination in their global supply chains,” Thang said.
Vietnam’s total import-export value reached over 681 billion USD last year, with exports accounting for 354.7 billion USD. Exports were worth over 10 billion USD in the first five months of the year, a year-on-year increase of 15%, she said.
The forum, together with specialised seminars, business matching activities and Vietnam International Sourcing Expo co-organised by the ministry’s European-American Market Department and the Investment and Trade Promotion Centre of HCM City (ITPC), aims to effectively support businesses to participate more deeply in global production and supply chains, adapt to intensive international economic integration trends, as well as promote linkages between foreign distribution channels and foreign importers and domestic manufacturing and exporting enterprises, she said.
She added that the event this year received unprecedented participation from nearly 300 leading global distribution channels and importers, including Aeon, Uniqlo (Japan), Walmart, Amazon, Safeway (USA), Carrefour, Decathlon (France), Falabella (Chile), Coppel (Mexico), Central Group (Thailand), Lotte (the Republic of Korea), Miniso (China), IKEA (Sweden), and LuLu (UAE).
She expected that several agreements and commercial transactions will be signed at the event to help Vietnam International Sourcing 2024 become a prestigious business meeting place for enterprises, contributing to bringing Vietnamese goods to the global market.
Echoing Thang, Nguyen Van Dung, Vice Chairman of the HCM City People’s Committee, said the forum also offers “an opportunity for HCM City businesses to promote their strong products directly to international buyers, and directly acquire information about consumption trends of export markets and changes in consumption habits to be able to research and develop suitable products for their targeted markets.”
Addressing the forum, Aly Ansari, senior director, Walmart Global Sourcing, said “Vietnam is one of Walmart’s most important sourcing markets in Asia. Our sourcing teams facilitate the export of Vietnamese products around the globe, including to the United States, Canada, Mexico, Chile and China.”
He said top exports from Vietnam include apparel, and electronics, among others. It also sources products in other categories, such as toys and food, from the country.
“We see potential in many product categories in Vietnam. We look forward to speaking with many of you and exploring opportunities to source more products from Vietnam whether that’s for our own label or for our marketplaces around the world,” Ansari said.
Regarding cross-border e-commerce, Gijae Seong, head of Amazon Global Selling in Vietnam, said: “We have seen the number of products sold by Vietnamese businesses on Amazon jump over 300 per cent in the past five years. Thousands of Vietnamese SMEs are now exporting through our store, with the count of those achieving over $1 million in annual sales skyrocketing nearly 10-fold.”
He highlighted that: “Vietnamese sellers are not just exporting products, but actively investing to build strong global brands. The number of Vietnamese sellers enrolled in Amazon's Brand Registry has surged an incredible 35-fold, demonstrating their ambition to unlock long-term international growth.
"The product selection from Vietnam has also evolved tremendously, with key categories like health and personal care, home, kitchen, apparel, and beauty seeing the highest growth rates.
“The Vietnam International Sourcing Expo 2024 presents a valuable platform for us to deepen our engagement with Vietnamese manufacturers and suppliers. By connecting directly with this vibrant business community, we aim to discover new product potentials and empower even more enterprises to expand their reach through cross-border e-commerce,” he said.
Jennifer Yuriko Patton Inukai, Asia sourcing director, Coppel, a distinguished Mexican nationwide department store, said: “Looking ahead, we are planning to expand our operations in Asia by exploring more of Vietnam and what this amazing country is offering. This strategic move underscores our dedication to the region and our enthusiasm for seeking new opportunities for collaboration and growth in this dynamic market.”/.
