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Sep 08, 2023 / 14:31

Multinationals seek potential partners in Vietnam

Local businesses would have an opportunity to deepen their participation in the international goods supply chain.

Aeon, Uniqlo, Walmart, Amazon, Boeing, and IKEA, among other prominent multinationals,  are set to participate in a series of events under the Vietnam International Sourcing 2023.

 Production of semiconductors at MTEX Company (Japan) at Tan Thuan Processing Zone, Ho Chi Minh City. Photo: Cao Thang/The Hanoi Times

The event, scheduled to run from September 13-15 in Ho Chi Minh City under the collaboration of the Ministry of Industry and Trade (MoIT) and the Ho Chi Minh City People’s Committee, would help participants explore opportunities for sourcing goods and forging cooperative partnerships.

Ta Hoang Linh, director of the MoIT’s Europe-America Market Department, shared the information during a press conference held on September 7.

“Local businesses, in particular, would get the right platform to further integrate into the global production and supply chain. This initiative is in line with the trend of increasing international economic integration and seeks to foster connections between distribution channels, foreign importers, and domestic manufacturing and exporting enterprises,” he noted.

The event is expected to draw 8,000 visitors and facilitate transactions with 200 international delegations hailing from 30 different countries and territories.

Additionally, the organizing committee is collaborating with local departments of industry and trade to facilitate purchasing delegations' visits to assess businesses in various localities.

Over the course of the three-day Vietnam International Sourcing 2023 event, there will be 10 seminars and business forums, providing valuable opportunities for business networking. These gatherings will have the presence of renowned corporations such as Aeon, Uniqlo (Japan); Walmart, Amazon, Boeing, AES (USA); Carrefour, Decathlon (France); Central Group (Thailand); Coppel (Mexico); IKEA (Sweden); and LuLu (UAE) among others.

Linh emphasized that the selected businesses, which will be presented to importers, distribution groups, and international purchasing groups have all earned international certifications and are known for their high-quality products in Vietnam's key industries. These businesses meet the requirements of international distributors and retailers across various sectors, including food, textiles, footwear, backpacks, bags, sportswear, picnic items, household appliances, furniture, and the supporting industry.

This event takes place against the backdrop of Vietnam's recent significant transformation into a major global manufacturing hub, capable of supplying a diverse range of high-quality products to the world market at competitive prices. This transformation is ongoing and marked by continuous improvements in product quality.

Furthermore, following the pandemic and recent geopolitical and economic instability, many corporations and retail and wholesale distribution channels are actively pursuing diversification strategies to secure sustainable and selective sources of supply. Vietnam is emerging as a strategic destination within its global supply chains.

Tran Phu Lu, Director of the Ho Chi Minh City Investment and Trade Promotion Center, emphasized that Vietnam International Sourcing 2023 is a trade promotion initiative of significant practical importance in the current context, aiming to support the Vietnamese business community in deepening its participation in the international goods supply chain.

“Through these efforts, businesses will progressively expand their network of production and consumption partnerships with both domestic and international counterparts, further promoting  Vietnamese products known for their quality and reputable brands, particularly at a time when the export market is facing challenges in the early months of 2023,” he said.