Fairs, exhibitions are a chance to connect Vietnamese businesses with suppliers. (Photo: VietnamPlus) Hanoi (VNA) - Vietnamese enterprises will have an opportunity to expand markets and promote linkages with foreign partners, as major global suppliers are preparing to participate in the Vietnam International Sourcing 2023 event, to be held in Ho Chi Minh City from September 13 to 15.
The event, to be hosted by the Ministry of Industry and Trade (MoIT), is expected to attract about 8,000 visitors and 200 business delegations from 30 countries and territories worldwide.
The event aims to support domestic firms to engage more deeply in global production and supply chains.
According to the MoIT - the organiser of the event, many foreign supermarkets, distributors and retailers are making their shopping list for products from Vietnamese suppliers at the event. The event will connect foreign importers with domestic manufacturers and exporters.
It will offer a good chance for foreign firms to seek suppliers across fields from food, textiles, footwear, houseware, furniture, and support industry products.
Christian Merizalde Aguilar, in charge of business strategy at Grupo Merica Foods, stated that the firm is currently shifting its business operation from Thailand to Vietnam.
The company planned to import around 110 cargo containers from Vietnam in 2023, a significant increase compared to the 77 last year.
According to Aguilar, the quality of Vietnamese goods is continually improving and becoming highly competitive. In the future, Grupo Merica Foods will collaborate directly with Vietnamese producers to jointly develop production and supply plans for products that align with the demands of the international market.
Many businesses have penetrated into supply chains by promoting technological solutions. (Photo: VietnamPlus) A significant attraction for potential buyers, he said, is that Vietnam is a signatory to 16 different trade agreements representing a massive network of customers.
Nguyen Duc Trong from Walmart Group said Vietnam will become a key outsourcing hub of the firm in Southeast Asia and Asia.
By 2027, Walmart’s purchasing market share in Vietnam is expected to increase, not only for clothing and footwear but also for various other products, and not only foreign-invested firms but also local companies, Trong said.
Vietnam is among the top five countries exporting the most of goods to the Walmart system, with key products including textiles, warehouse products, electronics and processed foods.
The US retailer will focus on buying products in six groups at the Vietnam International Sourcing 2023 event, including clothing, footwear, textiles, electronics and furniture, food, and consumer goods.
Meanwhile, Aeon Group from Japan announced that representatives from its systems in China, Japan, Thailand, and Malaysia aim to seek producers in Vietnam that can meet Aeon standards to become sustainable suppliers of the Japanese retailer.
The stability in Aeon’s supply chain is ensured by various suppliers in Vietnam.
Vietnam has been undergoing a robust transformation to become a global production hub, which is capable of supplying a wide range of products with competitive prices and continually improving quality.
To join the billion-dollar value chain of Walmart in the international market, Vietnamese businesses need to pay attention to building strategies with long-term targets, solutions for supply chain and logistics, and the ability to design and develop products.
Many foreign corporations and distribution channels are promoting diversification strategies to ensure sustainable supply, and choosing Vietnam as a strategic location in their global supply chain. (Photo: VietnamPlus) Walmart also takes note of important factors when evaluating suppliers in Vietnam, including supply capacity, financial stability, sustainable development, and adherence to environmental commitments.
According to the Vietnamese Trade Office in Belgium and the EU, a delegation of about 50 Belgian entrepreneurs is expected to come to Vietnam to seek partners and attend the event.
The office noted that the entrepreneurs will represent their businesses from the region of Flanders that operates in various sectors, from farm produce, machinery and construction materials, to real estate and logistics services.
In particular, some have expressed their wish to be further connected with Vietnamese companies in such industries as confectionery and chocolate production, fruit, insulation film and outdoor product manufacturing via the Vietnam International Sourcing 2023 event./.
