Walmart plans to expand purchase of Vietnamese goods

November 17, 2023 - 11:16

Walmart purchases billions of US dollar worth of goods from Việt Nam each year, mainly garments-textiles, leather and footwear, and food.


Vietnamese officials and Walmart representatives in a group photo. — Photo MoIT

SAN FRANCISCO — Walmart, the renowned retail giant based in the US, expects to turn Việt Nam into a goods supply centre of Asia, Andrea Albright, Executive Vice President, Sourcing, for Walmart, has told Minister of Industry and Trade Nguyễn Hồng Diên.

At a meeting with the minister, Allbright stressed that Việt Nam was among the five largest goods suppliers to Walmart's global supply chain, not only in the US but also in other markets including China, Canada and Mexico.

Walmart purchased billions of US dollars worth of goods from Việt Nam each year, mainly garments-textiles, leather and footwear, and food, she said, adding that the retailer would purchase other items from the Southeast Asian nation in the coming time, including household utensils, electronics, and toys of all kinds, among others.

Albright suggested the Ministry of Industry and Trade (MoIT) help the retail giant expand its operations and further stabilise its supply chain in Việt Nam, especially in the context of the increasing risk of supply chain disruption due to trade conflicts and geopolitical tensions globally.

For his part, Diên urged Walmart to step up its purchase in Việt Nam, while enhancing its coordination with the MoIT’s agencies in raising capacity for local businesses, and disseminating market information to make it easier for local firms to put forth their production and export strategies when joining the global distribution, wholesale and retail system.

Việt Nam was proactively and actively participating in the global production network and value chain. Therefore, the country aimed to promote support industries, the official said, stressing that Việt Nam absolutely observes regulations on sustainable development as committed in free trade agreements, including those on environmental protection and forced labour prevention.

Diên used the occasion to invite Walmart to join Việt Nam International Sourcing, a series of events aimed at connecting international supply chains, slated for June 2024.

Walmart agreed to send representatives to the events and suggested boosting training for Vietnamese suppliers on this occasion. —VNS