Vietnam: A Strategic Destination for Global Retail Groups
Vietnam is increasingly asserting its position as a crucial link in the global supply chain, attracting investment and procurement interest from major retail groups worldwide.
At the seminar "Participation of International Distribution Groups and Buying Centers in Vietnam (Viet Nam International Sourcing Expo) 2024" held on the morning of April 12th in Ho Chi Minh City, Mr. Paul Le, Vice President of Central Retail Group, revealed that the group is promoting the construction of a green coffee factory in Son La. He emphasized the enormous potential of the coffee market, especially Espresso coffee, with huge consumption demand globally.
Not only Central Retail, but Aeon also recorded strong growth in importing
Vietnamese goods. Mr. Yuichiro Shiotani, Director of Aeon Topvalu, said that import turnover has doubled compared to before. Aeon aims to export 1 billion USD worth of Vietnamese goods through its system by 2025.
Vietnamese Businesses Need to Proactively Adapt
Besides positive signals, international corporations also set requirements for quality standards and services. Mr. Yuichiro Shiotani believes that Vietnamese businesses are fully capable of meeting these standards; the key issue is proactiveness and determination.
Mr. Nguyen Duc Trong, Head of New Supplier Development at Walmart, shared that Walmart is expanding recruitment in Vietnam to meet the needs of expanding and diversifying its supply sources. However, he also noted that Vietnamese businesses need to improve their service capacity, especially their ability to understand the market and meet the needs of American consumers.
Positive Export Results
According to Vietnam Customs data, the export turnover of goods in the first quarter of 2024 reached 93.06 billion USD, an increase of 17% over the same period last year. In the European - American region alone, export turnover reached 44.9 billion USD, up 21.6%.
Mr. Ta Hoang Linh, Director General of the European - American Market Department (Ministry of Industry and Trade), affirmed that Vietnam is strongly transforming to become a major production center of the world. The presence of international retail groups in Vietnam demonstrates the country's important position in the global supply chain.
Thuy Linh
