Foreign retailer giants look for Vietnamese suppliers

The Vietnam International Sourcing 2023, which will be hosted by the Ministry of Industry and Trade (MoIT) from September 13 – 15 in Ho Chi Minh City, is expecting to attract about 150 business delegations from 30 countries and territories worldwide.

Foreign retailer giants look for Vietnamese suppliers hinh anh 1

A corner of Aeon Mall supermarket (Photo: VNA)

The Vietnam International Sourcing 2023, which will be hosted by the Ministry of Industry and Trade (MoIT) from September 13 – 15 in Ho Chi Minh City, is expecting to attract about 150 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, which is expected to connect foreign importers and domestic manufacturers and exporters.

It will offer a good chance for foreign firms to seek suppliers across fields from foods, textiles, footwear, housewares, furniture and support industrial 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 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 of products that align with the demands of the international market.

Vietnam's joining in 16 free trade agreements is a significant attraction for potential buyers, he said.

Nguyen Duc Trong from Walmart Group said Vietnam will become a key outsourcing hub in Southeast Asia and Asia of the firm.

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 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, including clothing and accessories, footwear, textiles and accessories, electronics and furniture, foods 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’s standards to become sustainable suppliers of the Japanese retailer.

The stability in Aeon’s supply chain is ensured to 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 pricing and continually improving quality.

To join the billion-USD value chain of Walmart in the international market, Vietnamese businesses need to pay attention to building strategies with long-term target, solutions for supply chain and logistics, and the ability to design and develop products.

Walmart also takes note of important factors when evaluating suppliers in Vietnam, including supply capacity, financial stability, sustainable development, and adherence to environmental commitments./.

Source: VNA
en.vietnamplus.vn

Related News

Foreign invested sector - important growth driver of Vietnam: official

Foreign invested sector - important growth driver of Vietnam: official

With the increasing project number and investment value, foreign invested enterprises have become a dynamic sector and an important growth driver for the Vietnamese economy, said Deputy Minister of Planning and Investment Do Thanh Trung.
Measures sought to make HCM City more attractive to foreign investors

Measures sought to make HCM City more attractive to foreign investors

Experts and economists gathered at a seminar in Ho Chi Minh City on May 12 to discuss measures to help the southern largest economic hub enhance its attractiveness to foreign investors amid its standstill situation in drawing foreign direct investment (FDI).
Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.
Vietnam"s retail market proves attractive for foreign investors

Vietnam"s retail market proves attractive for foreign investors

Vietnam is becoming an attractive retail market for companies all over the world with many regional and global FDI investors recently announcing plans to increase capital and expand distribution networks here.

Latest News

Wood exports likely to top 16 billion USD this year

Wood exports likely to top 16 billion USD this year

The wood sector expects to earn 15.5-16 billion USD from exports this year, given a nearly 21% growth rate to 13.18 billion USD in the first 10 months.
Vietnam’s manufacturing stalls on weak export activities

Vietnam’s manufacturing stalls on weak export activities

The Vietnamese manufacturing sector remained in growth territory in November but overall business conditions improved to a lesser extent than in the previous month as slower rises in output and new orders were recorded, according to the S&P Global.
Sustainable production, anticipating the pepper market

Sustainable production, anticipating the pepper market's price increase cycle

VCN - Pepper and spice exports are facing positive prospects as the price increase cycle begins to return. The pepper and spice industry is implementing many activities to promote sustainable production and improve quality to seize market opportunities.
Imports of textile and footwear materials soar amid robust industry growth

Imports of textile and footwear materials soar amid robust industry growth

VCN - Vietnam's appetite for raw materials in the textile and footwear sectors surged to new heights, with China firmly holding its position as the dominant supplier.

More News

Agricultural product exports poised for record-breaking year

Agricultural product exports poised for record-breaking year

Vietnam’s agricultural product exports are on track to achieve an unprecedented milestone, with projected revenue reaching 60-61 billion USD this year, up 7-8 billion USD compared to 2023.
Binh Duong posts 10 billion USD in trade surplus this year

Binh Duong posts 10 billion USD in trade surplus this year

Binh Duong province is projected to achieve a record trade surplus of 10 billion USD this year, reaffirming its role as a leading economic hub in southern Vietnam.
US trade policy is expected to be "stricter", what should businesses do?

US trade policy is expected to be "stricter", what should businesses do?

VCN - As the global supply chain becomes increasingly complex and the predicted “stricter” changes from the Trump administration in early 2025, Vietnamese businesses must make changes to optimize opportunities and operate effectively in the supply chain.
Virtual booths open new doors for Vietnamese farm produce in China

Virtual booths open new doors for Vietnamese farm produce in China

Vietnamese agricultural products will be distributed directly to Chinese consumers through major e-platforms and social media, offering opportunities for enterprises to expand their market presence and enhance export potential.
Vietnam’s exports to the Philippines surge nearly 24% over 10 months

Vietnam’s exports to the Philippines surge nearly 24% over 10 months

VCN - Data from the Vietnam Trade Office in the Philippines, citing the Export-Import Department under the Ministry of Industry and Trade, revealed that Vietnam’s total export turnover to the Philippines reached US$5.22 billion in the first 10 months of 2024. This marks a 23.9% increase compared to the same period in 2023.
How will seafood exports to the US be affected after the US election?

How will seafood exports to the US be affected after the US election?

VCN - Mr. Donald Trump was re-elected as the President of the United States. The special trade policies of the United States under Mr. Trump can create both opportunities and challenges for Vietnam's seafood exports in the time to come.
Vietnam’s auto industry solidifies its place in the global market

Vietnam’s auto industry solidifies its place in the global market

The Vietnamese auto industry has demonstrated significant progress in integrating into the global supply chain, reflecting its potential to contribute to economic growth, according to local car experts.
Top 10 reputable logistics companies in 2024 announced

Top 10 reputable logistics companies in 2024 announced

The Vietnam Report JSC on November 29 announced the list of top 10 reputable logistics companies for 2024.
Exporting via e-commerce: Hesitation leads to missed opportunities

Exporting via e-commerce: Hesitation leads to missed opportunities

VCN - Cross-border e-commerce has emerged as a critical export channel, expanding market access for Vietnamese products. However, micro, small, and medium-sized enterprises (MSMEs) in Vietnam face numerous difficulties and challenges in accessing and adopting cross-border e-commerce.
Read More

Your care

Latest Most read
Wood exports likely to top 16 billion USD this year

Wood exports likely to top 16 billion USD this year

The wood sector expects to earn 15.5-16 billion USD from exports this year, given a nearly 21% growth rate to 13.18 billion USD in the first 10 months.
Vietnam’s manufacturing stalls on weak export activities

Vietnam’s manufacturing stalls on weak export activities

The Vietnamese manufacturing sector remained in growth territory in November but overall business conditions improved to a lesser extent than in the previous month as slower rises in output and new orders were recorded, according to the S&P Global.
Sustainable production, anticipating the pepper market

Sustainable production, anticipating the pepper market's price increase cycle

The pepper and spice industry is implementing many activities to promote sustainable production and improve quality to seize market opportunities.
Imports of textile and footwear materials soar amid robust industry growth

Imports of textile and footwear materials soar amid robust industry growth

Vietnam's appetite for raw materials in the textile and footwear sectors surged to new heights, with China firmly holding its position as the dominant supplier.
Agricultural product exports poised for record-breaking year

Agricultural product exports poised for record-breaking year

Vietnam’s agricultural product exports are on track to achieve an unprecedented milestone, with projected revenue reaching 60-61 billion USD this year, up 7-8 billion USD compared to 2023.
Mobile Version