Products to join forces with large retailers, e-commerce platforms

As the outbreak of the novel coronavirus COVID 19 has become a global pandemic Vietnamese firms must find an alternative to export their products as countries around the world tighten regulations to monitor trade flow
products to join forces with large retailers e commerce platforms

Customers shop for Vietnamese products at a supermarket in Singapore. — Photo congthuong.vn

Traditionally a large exporter by volume, Vietnam, however, has little to show for its collaboration with international retail and supermarket chains.

A project initiated by the Ministry of Industry and Trade (MoIT) aims to address this issue by helping Vietnamese firms to connect with and participate in international distribution networks.

The project, which was approved by Prime Minister Nguyen Xuan Phuc, has been working closely with major retailers such as AEON, Auchan and Central Group, among others.

Ta Hoang Linh, head of the US, EU market department under the MoIT, said the project’s goal is to help Vietnamese firms gain a better understanding of international consumers’ demands, acquire modern management techniques and meet international retail standards.

It’s also an opportunity for retailers to work directly with Vietnamese firms to persify supply sources and improve product quality, especially agricultural products which require rigorous monitoring to ensure consumer safety.

“This is a win-win situation as both sides can reduce business costs by eliminating the need for a middleman,” said Linh.

Tran Duy Dong, head of the domestic market department under the MoIT, said the SARS-CoV-2 outbreak had severely disrupted Vietnam’s exports, especially agricultural products which put farmers in a vulnerable position in an increasingly volatile market.

Dong urged firms to work closely with farmers to strictly enforce quality standards and origin rules so that Vietnamese products could integrate in international retail chains and foreign markets.

A MoIT’s report showed retail chains could play an important role in helping Vietnamese products reach new markets.

For example, the Thai-owned MM Mega Market, formerly known as Metro Cash & Carry Vietnam, has set up four major purchasing centres for agricultural products across Vietnam. Last year, MM Mega Market exported over 1,000 tonnes of products.

Saigon Co.op and its partner NTUC FairPrice, a large supermarket chain based in Singapore, have been exporting hundreds of containers of agricultural products to the island city-state in recent years.

Notably, Japan's AEON Group and its TOPVALU brand are exporting Vietnamese goods worth up to a quarter of a billion dollars every year. The group has pledged to ramp up the export value of Vietnamese goods to one billion dollars in 2025.

According to trade experts, this was also an opportunity to ensure Vietnamese products meet international quality standards. However, as of right now only large firms with the required resources and infrastructure could take advantage of it.

Nguyen Ngoc Luan, director of Lam San Agricultural Co.op in the southern province of Dong Nai, said access to the EU market had brought greater profit and stability. The co-op was now actively seeking new clients in the EU to work directly with them.

MoIT’s deputy minister Do Thang Hai said the ministry would continue to support Vietnamese firms by setting them up with large international retailers and e-commerce platforms. Overseas trade officials were told to stay in touch with domestic firms to keep them informed of new developments, demands and opportunities in foreign markets.

The ministry would also try to issue timely warnings and advisories to alarm Vietnamese firms of technical barriers and changes in regulations to help minimise risks.

Source: VNS
english.vov.vn

Related News

E-commerce tax collection in Hanoi increased by 265%

E-commerce tax collection in Hanoi increased by 265%

VCN - As of August 2024, the Hanoi Tax Department has built a tax management directory for e-commerce business activities including more than 75,000 organizations and individuals. In particular, there are more than 37,000 business households and more than 9,000 individuals.
Supporting industry enterprises: Learning standards, understanding opportunities

Supporting industry enterprises: Learning standards, understanding opportunities

VCN - Currently, many potential industries have "opened" opportunities for Vietnamese enterprises to enter, such as the semiconductor industry, supporting industries for the aviation sector. However, the higher the added value of the sector, the more it requires enterprises to meet international standards.
Insurance companies adapt to e-commerce trends

Insurance companies adapt to e-commerce trends

VCN - Travel insurance, cargo insurance, shipping insurance… have become popular services in online shopping transactions. Therefore, insurance companies are adapting this trend and expanding their customer data.
Ho Chi Minh City: Many violations in e-commerce business

Ho Chi Minh City: Many violations in e-commerce business

VCN - Since the beginning of the year, Ho Chi Minh City authorities have inspected and detected many violations in online sales.

Latest News

Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - Although the import and export turnover of goods slowed down in September 2024, in general, import and export activities, especially exports, still grew positively in the first 9 months of 2024. It is expected that import and export of goods in 2024 will reach a record of 800 billion USD.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

VCN - According to the Ministry of Agriculture and Rural Development, Vietnam's capacity to export over 50 billion USD worth of agricultural products annually, coupled with established supply chains, provides a significant advantage for Vietnamese agricultural and aquatic products to penetrate the Halal market.

More News

Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Vietnam and UAE trade sees billion-dollar growth

Vietnam and UAE trade sees billion-dollar growth

VCN - According to General Department of Vietnam Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) reached nearly US$5 billion, an increase of more than US$1.4 billion over the same period last year.
Sharing responsibility for ensuring security and safety of the supply chain

Sharing responsibility for ensuring security and safety of the supply chain

VCN – Post - clearance audit is carried out in a planned, focused and key manner, avoiding widespread and ineffective inspections, thereby creating convenience for the business community and improving the effectiveness of state management of customs.
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Read More

Your care

Latest Most read
Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - At the regular Government meeting in September 2024, Minister of Industry and Trade Nguyen Hong Dien assessed: import and export continued to be a bright spot, recording a positive recovery compared to the same period last year.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

According to the Ministry of Agriculture and Rural Development, Vietnamese agricultural and aquatic products could penetrate the Halal market.
Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Mobile Version