The “Connecting suppliers in the South with distributors, exporting businesses and trade promotion organisations” programme opened in HCM City on July 12. — VNS Photo

HCM CITY — More than 300 businesses from 18 southern provinces and cities are taking part in the “Connecting suppliers in the South with distributors, exporting businesses and trade promotion organisations” programme being held in HCM City from July 12 to 16.

Speaking at the event, Deputy Minister of Industry and Trade Đỗ Thắng Hải said the global economy has faced many challenges since the beginning of 2023 due to the Russia-Ukraine conflict, global inflation, which remains at a high level despite cooling down, and monetary tightening, which has had a strong impact on economic growth, investment and consumption.

Many major economies, including those of Việt Nam’s major trading partners, have slowed down and even fallen into recession.

These have negatively affected the country’s foreign trade, he said.

Exports decreased by 12.1 per cent year-on-year in the first half.

Vice Chairman of the HCM City People's Committee Võ Văn Hoan said threats to food security, climate change, natural disasters, and epidemics also affect exports and the country’s economic recovery and development.

Hải said his ministry has directed the Vietnam Trade Promotion Agency to coordinate with related agencies, organisations and businesses to organise trade promotions to help firms expand their distribution networks in the domestic market and boost exports.  

This week’s programme, with useful information from localities and international organisations, would provide information and solutions to promote exports and effectively participate in global value chains, he said.

As part of the programme, an exhibition of typical products and those with high export potential from the 18 participating provinces and cities is being held at 23/9 Park in District 1 with more than 300 suppliers, co-operatives and enterprises taking part.

Đỗ Quốc Hưng, deputy head of the Department of Asia and Africa Markets under the Ministry of Industry and Trade (MoIT), said export businesses need to have strategic plans for markets where Việt Nam enjoys advantages, especially in Asia and Africa, to increase the efficiency of their exports.

Asian and Africa markets account for 68 per cent of Việt Nam's imports and exports, yet businesses do not have long-term plans to exploit them, he said.

African countries spend more than US$600 billion a year on imports, but Việt Nam’s share of that is only 0.8 per cent, he said.

Lê Việt Nga, deputy director of the MoIT's Domestic Market Department, said the ministry, HCM City and other localities would organise stimulus programmes through this year to support businesses.

They are expected to boost domestic demand and help manufacturing enterprises find buyers for their products, especially thorough modern retail systems such as AEON, Winmart, Saigon Co.op, and Central Retail. — VNS