Hanoi at FLAsia 2023: Exploring global opportunities
Through trade promotion activities, Hanoi aims to increase export turnover by 6% by 2023.
A large number of businesses in Hanoi that participated in the Franchising & Licensing Asia 2023 (FLAsia 2023) have succeeded in promoting their brands and boosting exports, Deputy Director of the Hanoi Department of Industry and Trade Nguyen Kieu Oanh told The Hanoi Times.
Why did Hanoi and businesses from the city attend FLAsia 2023 in Singapore?
|A business owner shares information with visitors in FLAsia 2023. Photo: Thu Huong|
FLAsia 2023, held from August 17 to 19, is an annual event in Singapore. This year, the fair provided an opportunity for Hanoi's enterprises to meet investors and business partners and seek export opportunities, with 250 brands from many countries participating in the fair.
In addition, the city's enterprises actively participated in forums, conferences, and workshops alongside the fair to promote their brands, gain professional knowledge, and expand their export markets while staying abreast of global market trends.
Singapore is the second largest investor in Hanoi after Japan and an important export market for Hanoi businesses.
In 2022, Hanoi's exports to Singapore reached US$628 million, accounting for 3.6% of Hanoi's total export turnover, an increase of 3.4% compared to 2021. The city's exports to this market in the first half of 2023 totaled US$260 million, accounting for 3.8% of the total.
The main export items to Singapore include machinery, equipment, tools and spare parts, wood and wood materials, components and electronics, computers and computer components, textiles, agricultural products and food.
What products did Hanoi enterprises display at the fair?
Hanoi enterprises participating in the fair included Doji Gold and Gem Group JSC, Feyyman Herbal & Spice Co., Ltd, Bat Trang Porcelain JSC, Vinahut JSC, Vietnam Agricultural and Food Product Import Export JSC, and Thien Phuc Medicinal Herbs JSC.
They showcased agricultural products, food, textiles, handicrafts, gold and silver, jewelry, pharmaceuticals, and functional foods.
It was also an opportunity for businesses from the capital to introduce their high-quality, safe and environmentally friendly products under the One Commune One Product (OCOP) program and restaurant and hotel services.
Singapore's Minister for Culture, Community and Youth Low Yen Ling appreciated the potential and strengths of Vietnamese brands and was impressed by the products brought to the fair by Hanoi businesses.
Several cooperation agreements were signed between Singaporean businesses and Vietnamese companies, including Bat Trang Porcelain JSC, VinaStraws JSC, Vinahut JSC, and Vietnam Agricultural and Food Products Import-Export JSC.
|Deputy Director of the Hanoi Department of Industry and Trade Nguyen Kieu Oanh. Photo: VNA|
Given that goods are increasingly traded through e-commerce channels, and Singapore is the home of e-commerce platform Lazada, how has the Hanoi Department of Industry and Trade supported enterprises to access this e-commerce platform?
To support businesses in accessing e-commerce, the Hanoi Department of Industry and Trade, in coordination with the Vietnamese Embassy in Singapore, held a working meeting with Lazada Group, the operator of the Lazada e-commerce platform, during its participation in FLAsia 2023.
During the meeting, Hanoi businesses urged Lazada to support them in selling Hanoi handicraft villages, high-quality food and products of the city's One Commune One Product (OCOP) program on the e-commerce platform by providing shipping costs and promotional activities.
Lazada has been working with the Hanoi Department of Industry and Trade to raise awareness of digital transformation among businesses, enhance their capacity in applying e-commerce, and equip them with practical selling skills on the e-commerce platform and in export activities.
In response to the recommendations from Hanoi businesses, Lazada Group's Deputy General Director for Foreign Affairs said that Lazada would help small and medium-sized enterprises list their products on the e-commerce platform.
Specifically, for new sellers, Lazada encourages them to open a store through the "Golden Moment, Going LazMall" program. Registered sellers could enjoy reduced costs for transportation, packaging, and a coupon program that covers 60% of the sponsor's discount code. In addition, Lazada would support them in connections with domestic supply chains to source products for sellers.
Through trade promotion activities, Hanoi has created opportunities for businesses to promote their brands, boost exports, and strive to achieve the city's goal of increasing export turnover by 6% by 2023.
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