US major retailer Walmart plans to add more Vietnamese products to its distribution network to meet the fast-growing demand in the global market, according to Johnny Fung, senior director of Walmart Global Sourcing.
Overview of the meeting. Source: VGP.
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As of present, Walmart has made its presence in 28 countries with revenue of US$500 billion in 2018, serving an average of 270 million customers per week.
This leads to the retailer’s huge needs for new products and suppliers, Fung added.
Fung said Walmart has been working with Vietnamese partners and is willing to address their concern in approaching its distribution system, particularly in improving production capabilities and technologies, raising awareness in labor safety and protecting labor rights.
Ta Hoang Linh, director of the European – American Market Department under the Ministry of Industry and Trade (MoIT), said Vietnamese market has gained significant interests from the world’s global retailers, including Walmart.
Linh stated the MoIT is tasked with facilitating the participation of Vietnamese enterprises into global value chain.
The MoIT would support Walmart in setting up a system of qualified suppliers, gradually increase the proportion of Vietnamese goods in its distribution network globally, Linh said.
To Tuong Lan, vice general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the most challenging issue for Vietnamese seafood companies are the compliance of sustainable development and social responsibility standards.
At the meeting, representatives of Vietnam Textile and Apparel Association (VITAS), Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), among others, expressed interests in joining Walmart’s distribution network.
