The "International Goods Supply Chain Connection" event (Viet Nam International Sourcing 2024), organized by the Investment & Trade Promotion Center of Ho Chi Minh City (ITPC) and the Ministry of Industry and Trade, attracted the participation of a large number of domestic and foreign businesses. At the event, many retail giants expressed their desire to expand cooperation and seek new sources of supply in Vietnam.

Walmart, Amazon, Miniso: Vietnam is a Hot Spot

Mr. Aly Ansari, Senior Director of Sourcing at Walmart, assessed Vietnam as one of the most important sourcing markets in Asia. Walmart is looking for suppliers of toys, food, and many other items from Vietnam to distribute to major markets such as the US, Canada, Mexico, Chile, and China.

Amazon is also not outside this trend. Representatives from Amazon Global Selling Vietnam said that diversifying and expanding the "made in Vietnam" product portfolio is a focus of this e-commerce platform. In the past 5 years, the number of Vietnamese goods sold on Amazon has increased by more than 300%.

Miniso Group, with more than 6,630 stores in 110 countries, is also actively seeking suppliers in Vietnam. Miniso trades in a variety of items, from household goods, fashion accessories to toys, and electronics.

Golden Opportunity for Vietnamese Businesses

Not only big brands, but many other retailers are also "targeting" the Vietnamese market. Coppel, with more than 1,000 stores in Mexico and Argentina, is looking for footwear suppliers in Vietnam.

According to Deputy Minister of Industry and Trade Phan Thi Thang, international retailers want to expand their purchase of goods from Vietnam for many reasons:

• Supply diversification strategy: Minimizing the risk of dependence on a single market.
• Advantages in production capacity: Vietnam has an abundant labor force and competitive costs.
• Strategic geographical location: Convenient for transportation and connection to other markets.
• Improving logistics: Helps reduce shipping costs and time.

The "International Goods Supply Chain Connection 2024" event has created a golden opportunity for Vietnamese businesses to connect with international retail groups and participate more deeply in the global supply chain. This is a driving force for businesses to improve their competitiveness and aim for sustainable development.

Viet Huy