Deputy Minister of Industry and Trade Phan Thị Thắng speaks at the Export Forum on Connecting International Supply Chains in HCM City on June 6. — Photo courtesy of ITPC

HCM CITY — Việt Nam has transformed itself to emerge as a major global production hub capable of supplying a wide range of products at competitive prices and with improving quality, Deputy Minister of Industry and Trade Phan Thị Thắng said at the Export Forum on Connecting International Supply Chains in HCM City on Thursday.

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

Việt Nam’s total import-export value reached over US$681 billion last year, with exports accounting for $354.7 billion. Exports were worth over $10 billion in the first five months of the year, a year-on-year increase of 15 per cent, she said.

The forum, together with specialised seminars, business matching activities and Việt Nam International Sourcing Expo co-organised by the ministry’s European-American Market Department and the Investment and Promotion Centre of HCM City, aims to effectively support businesses to participate more deeply in global production and supply chains, adapt to intensive international economic integration trends, as well as promote linkages between foreign distribution channels and foreign importers and domestic manufacturing and exporting enterprises, she said.

She added that the event this year received unprecedented participation from nearly 300 leading global distribution channels and importers, including Aeon, Uniqlo (Japan), Walmart, Amazon, Safeway (USA), Carrefour, Decathlon (France), Falabella (Chile), Coppel (Mexico), Central Group (Thailand), Lotte (Korea), Miniso (China), IKEA (Sweden), and LuLu (UAE).

She expected that several agreements and commercial transactions will be signed at the event to help Vietnam International Sourcing 2024 become a prestigious business meeting place for enterprises, contributing to bringing Vietnamese goods to the global market.

Echoing Thắng, Nguyễn Văn Dũng, vice chairman of the HCM City People’s Committee, said the forum also offers “an opportunity for HCM City businesses to promote their strong products directly to international buyers, and directly acquire information about consumption trends of export markets and changes in consumption habits to be able to research and develop suitable products for their targeted markets.”

Addressing the forum, Aly Ansari, senior director, Walmart Global Sourcing, said “Việt Nam is one of Walmart’s most important sourcing markets in Asia. Our sourcing teams facilitate the export of Vietnamese products around the globe, including to the United States, Canada, Mexico, Chile and China.”

He said top exports from Việt Nam include apparel, and electronics, among others. It also sources products in other categories, such as toys and food, from the country.

“We see potential in many product categories in Việt Nam. We look forward to speaking with many of you and exploring opportunities to source more products from Việt Nam whether that’s for our own label or for our marketplaces around the world,” Ansari said.

Regarding cross-border e-commerce, Gijae Seong, head of Amazon Global Selling in Việt Nam, said: “We have seen the number of products sold by Vietnamese businesses on Amazon jump over 300 per cent in the past five years. Thousands of Vietnamese SMEs are now exporting through our store, with the count of those achieving over $1 million in annual sales skyrocketing nearly 10-fold.”

He highlighted that: “Vietnamese sellers are not just exporting products, but actively investing to build strong global brands. The number of Vietnamese sellers enrolled in Amazon's Brand Registry has surged an incredible 35-fold, demonstrating their ambition to unlock long-term international growth.

"The product selection from Vietnam has also evolved tremendously, with key categories like health and personal care, home, kitchen, apparel, and beauty seeing the highest growth rates.

“The Vietnam International Sourcing Expo 2024 presents a valuable platform for us to deepen our engagement with Vietnamese manufacturers and suppliers. By connecting directly with this vibrant business community, we aim to discover new product potentials and empower even more enterprises to expand their reach through cross-border e-commerce,” he said.

Jennifer Yuriko Patton Inukai, Asia sourcing director, Coppel, a distinguished Mexican nationwide department store, said: “Looking ahead, we are planning to expand our operations in Asia by exploring more of Vietnam and what this amazing country is offering. This strategic move underscores our dedication to the region and our enthusiasm for seeking new opportunities for collaboration and growth in this dynamic market.”

Vietnam International Sourcing Expo

A booth at the Vietnam International Sourcing Expo 2024 that is being held at the Saigon Exhibition and Convention Centre until June 8. — VNS Photo

Vietnam International Sourcing Expo 2024 - a premier sourcing fair in Việt Nam that brings together the leading manufacturers and exporters in the country - also opened at HCM City’s Saigon Exhibition and Convention Centre on June 6.

Covering over 10,000 sq.m, the expo features 600 enterprises representing various sectors within 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.

Among the highlights at the expo is the HCM City pavilion cluster organised by the ITPC to support firms in the city to introduce their products and services, seek business partners, and expand their markets.

Visitors enjoy coffee at a booth promoting key Vietnamese coffee categories organised by Central Retail within the framework of the Vietnam International Sourcing Expo 2024. —Photo courtesy of Central Retail

Within the framework of the expo, Central Retail Vietnam in coordination with the Ministry of Industry and Trade also opened a booth to promote Vietnamese coffee to a large number of visitors, including major buyers around the world.

The booth features roasted and ground coffee, instant coffee, capsules coffee, ready to go coffee and the coffee shop model of Central Retail’s business partners - K Coffee, Adore, Le Caiffa, Lady Trieu, and Little Green Cyclo.

By promoting five major Vietnamese coffee categories, Central Retail hopes to contribute to introducing high-quality Vietnamese coffee to the international market; open up opportunities for businesses in the coffee sector to meet and connect with potential partners and customers, thereby expanding markets and developing brands, it said.

The expo will remain open until June 8. — VNS