International sourcing event to foster Việt Nam’s integration into global production, supply chains

Vietnam International Sourcing 2024, a series of events meant to help Vietnamese firms deeper penetrate into global production and supply chains, will be held in HCM City from June 6 to 8, according to the Ministry of Industry and Trade.

Tạ Hoàng Linh, director of the ministry’s European-American Market Department, said the ministry successfully organized the inaugural event last year, attracting much attention from domestic manufacturers and exporters and distributors and importers from many other countries.

Its success brought a new perspective to global wholesalers and retailers about the supply capacity of Vietnamese enterprises, he said.

“Việt Nam has become a major global manufacturing hub capable of supplying a wide range of products at competitive prices and with improving quality, and ensuring sustainable supply. Vietnamese firms are also increasingly advancing their supply capacity.”

Besides, after the COVID-19 pandemic and amid current geopolitical - economic uncertainties, many enterprises and retail/wholesale networks are stepping up diversification to ensure supply chain sustainability, and Việt Nam has been chosen as a strategic destination in their global supply chains, he said.

This year Việt Nam International Sourcing, which includes the Export Forum 2024, workshops, business matching activities, and Vietnam International Sourcing Expo, will feature 500 businesses from different areas in the international supply chain, with a focus on five major industries: food and drinks; garments, textiles, and fashion accessories; shoes, bags, luggage, and accessories; sportswear and equipment; and household goods and home décor, he said.

He added that it has received unprecedented participation from leading global distribution and sourcing companies such as Aeon and Uniqlo (Japan); Walmart, Amazon and Safeway (USA); Falabella (Chile); Carrefour and Decathlon (France); Central Group (Thailand); Coppel (Mexico); IKEA (Sweden); and LuLu (UAE).

To he held at the Saigon Exhibition and Convention Centre, it expects to welcome 10,000 visitors in 300 delegations from 30 countries and territories, he said.

The organising committee would coordinate with several localities to send international sourcing teams to visit them, he said.

Paul Le, vice president of Central Retail Group, praised last year’s event, saying it played an important role for Central Retail in sourcing products. Some 95 per cent of goods sold at Central Retail’s supermarkets in Việt Nam are Vietnamese, he said.

The group hoped to find more Vietnamese products to sell through its network and export at Viet Nam International Sourcing 2024, he added.

Yuichiro Shiotani, director of Aeon TopValu Vietnam, said his company has stores in 17 countries and purchases goods in 48.
“Việt Nam is the market that Aeon TopValu focuses on the most for importing goods and developing products.”

The export of Vietnamese goods through Aeon has doubled since 2017, and it hopes to reach US$1 billion by 2025.

Thanks to the 2023 event his company connected with buyers from Hong Kong, and Malaysia and exports Vietnamese fresh bananas, dragon fruit garments to Hong Kong, he added.

Mirash Basheer, director of May Exports Vietnam Company, a division of Lulu Group, the largest retail chain in the Middle East,, said the company is looking for sources for goods such as banana and coffee to export to the Middle East.

It also wants to expand its business in Việt Nam, he said.

Nguyễn Đức Trọng from Walmart said Việt Nam is one of the US company’s sourcing hubs in Asia.

Some 500 companies in Việt Nam are supplying goods to Walmart and the number is expected to increase, he added.

Sài Thị Thu Thủy at the Vietnamese trade office in Chile, said two leading companies from the South American country would participate in Việt Nam International Sourcing 2024 to look for suppliers of footwear, fashion items, food, and other products.

Lưu Vạn Khang, Vietnamese trade counsellor in Mexico, said a big Mexican company that seeks to import large volumes of automobile tyres, footwear and clothing wants to seek suppliers in Việt Nam.

Source:Viet Nam News