The Ministry of Industry and Trade held a press conference to introduce information about the 2023 International Goods Supply Chain Events.

The Ministry of Industry and Trade presides over a series of events connecting international supply chains. Minister Nguyen Hong Dien works with Market Management and Departments of Industry and Trade on goods supply.

Aiming to boost exports

Speaking at the press conference, Mr. Ta Hoang Linh, Director of the European and American Market Department (Ministry of Industry and Trade), said: In order to effectively support businesses in their efforts to participate more deeply in the global production and supply chain, adapt to the increasingly deep trend of international economic integration, and promote connections between distribution channels, foreign importers and domestic production and export businesses, the Ministry of Industry and Trade and the People's Committee of Ho Chi Minh City are co-organizing the "Vietnam International Sourcing 2023" event series from September 13-15, 2023 at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.

This series of events is an activity aimed at actively implementing the Project "Promoting Vietnamese enterprises' direct participation in foreign distribution networks by 2030," approved by the Prime Minister in Decision No. 1415/QD-TTg dated November 14, 2022. The Ministry of Industry and Trade assigned the Department of European and American Markets, and the People's Committee of Ho Chi Minh City assigned the Trade and Investment Promotion Center (ITPC) as the focal point to coordinate with relevant units to organize the series of events.

Bộ Công Thương tổ chức Họp báo giới thiệu thông tin Chuỗi sự kiện cung ứng hàng hoá Quốc tế 2023

The Ministry of Industry and Trade held a press conference to introduce information about the Vietnam International Sourcing 2023 event series.

The series of events includes the Export Forum “Connecting International Supply Chains”, seminars, business networking activities, and the “Vietnam International Sourcing Expo 2023”. The exhibition, covering 8,000m2 and featuring 300 businesses representing various sectors in the international supply chain, will be held concurrently at SECC, organized by ADPEX Professional Exhibition Company, under the direction of the European and American Market Department, Ministry of Industry and Trade.

According to Mr. Linh, the event took place against the backdrop of Vietnam's strong transformation in recent years, becoming a major global manufacturing hub capable of supplying the world market with a wide variety of goods, offering competitive prices and increasingly improved quality. Simultaneously, following the pandemic and recent geopolitical and economic instability, many corporations and retail/wholesale distribution channels are accelerating diversification strategies to ensure sustainable supply sources and have chosen Vietnam as a strategic location in their global supply chains.

The Vietnam International Sourcing Expo 2023 was highly praised by professionals and businesses for its professionalism and meticulous organization. The businesses selected to showcase their products to international importers, distributors, and purchasing delegations were all companies that had achieved international certifications and possessed high-quality products in sectors where Vietnam has strengths and which international distributors and retailers have needs, such as: food, textiles, footwear, backpacks, handbags, sports and outdoor equipment, household goods and furniture, and supporting industries. "The event promises to attract 8,000 visitors and transactions with 200 international delegations from 30 countries and territories. The organizing committee also coordinated with local Departments of Industry and Trade to bring purchasing delegations to survey businesses in several localities," Mr. Linh informed.

Mr. Ta Hoang Linh - Director of the European and American Market Department (Ministry of Industry and Trade) spoke at the press conference.

In particular, the series of events witnessed unprecedented involvement from the Vietnamese Trade Offices/Branch Offices. These Trade Offices and Branch Offices extensively promoted Viet Nam International Sourcing 2023 to importers, distribution channels, and foreign business associations, inviting international purchasing delegations to participate through various methods suitable to the host country (direct or electronic communication, through trade promotion channels, networking, etc.).

According to Mr. Ta Hoang Linh, under the direction of the Department of European and American Markets and the Department of Asian and African Markets, Vietnamese trade offices and branches abroad have proactively and actively sought out, contacted, and worked with purchasing delegations, import businesses, and distribution businesses in their respective countries to invite them to Vietnam to participate in the aforementioned series of exhibitions and seminars.

Reportedly, this year's event also saw unprecedented participation from major global corporations. The Director of the European-American Market Department stated that throughout the three days of Viet Nam International Sourcing 2023, 10 specialized seminars and business forums and networking events will be held, featuring major corporations such as Aeon, Uniqlo (Japan); Walmart, Amazon, Boeing, AES (USA); Carrefour, Decathlon (France); Central Group (Thailand); Coppel (Mexico); IKEA (Sweden), LuLu (UAE)...

Supporting businesses in connecting to international supply chains.

In addition to promoting exports, Viet Nam International Sourcing 2023 also includes side activities to support businesses in enhancing their capabilities and achieving sustainable development when entering the global market. Leading experts from Europe conducted online training sessions for participating businesses before the exhibition and provided in-person consultations at SECC on September 12, 2023, to prepare businesses to best utilize networking opportunities, right before the event began.

Viet Nam International Sourcing 2023 is not only an event promoting exports and developing important markets, but also a place for businesses to meet, network, learn, and exchange experiences. The organizers hope that many trade agreements and transactions will be successfully signed at the event, that participating companies will meet many partners and customers, and gain more business ideas inspired by the forums and workshops, so that Viet Nam International Sourcing 2023 becomes a reputable business meeting point for enterprises, contributing to bringing Vietnamese goods and products further into the global market.

As the coordinating unit for the Vietnam International Sourcing 2023 event series, Mr. Do Quoc Hung, Deputy Director of the Asia-Africa Market Department (Ministry of Industry and Trade), said that the Asia-Africa Market Department is working closely with the Europe-Africa Department and Ho Chi Minh City to invite businesses and distributors from the Asia-Africa region to participate in the event. "Based on initial observations, businesses are very interested in Vietnam's strong export products such as agricultural products, processed foods, and forestry products… This is an opportunity for Vietnamese businesses to learn information and seek opportunities through the upcoming event series," Mr. Hung stated.

Mr. Ta Hoang Linh stated that currently, following the Covid-19 crisis and political changes, distributors and businesses have a need to diversify their supply chains; consumers also have a demand for new, sustainable products. Therefore, organizing programs to connect businesses and help Vietnamese enterprises take advantage of opportunities to participate in supply chains is extremely urgent. This will create new procurement channels, ensuring sustainability and long-term resilience.

Mr. Ta Hoang Linh further informed that the European-American Market Department had conducted a small survey, showing that 90% of businesses are aware of sustainability factors and the pressure to transition to sustainable production and consumption; 60% of businesses are currently undertaking activities and investments for sustainable development. “We will strive to support and meet the needs of businesses. The organizing committee expects to provide businesses with comprehensive information so they can find production and business directions in the context of new market challenges,” Mr. Linh emphasized.

Mr. Tran Phu Lu - Director of the Ho Chi Minh City Trade and Investment Promotion Center

In the first eight months of 2023, Ho Chi Minh City's socio-economic situation achieved many positive results. The industrial production index (IIP) increased by 2.8% compared to the same period last year, with the industrial production index for the four key industries increasing by 6%; total retail sales of goods and consumer service revenue increased by 7.6%. However, Ho Chi Minh City's import and export turnover decreased compared to the same period last year, estimated at US$63.75 billion in the first eight months of 2023, a decrease of 21.9%, of which export turnover reached US$27.54 billion, a decrease of 15.3%, and import turnover reached US$36.21 billion, a decrease of 17.3% compared to the same period last year.

In this context, Mr. Tran Phu Lu, Director of the Ho Chi Minh City Trade and Investment Promotion Center, said that to contribute to the sustainable economic development of the country, the city needs to strengthen support for the business community to grow stronger by creating conditions for businesses to produce high-quality and competitive goods and services, and also needs to organize trade promotion activities to help businesses promote their products and expand their domestic and international markets.

According to Mr. Tran Phu Lu, the Ho Chi Minh City People's Committee highly appreciates the Vietnam International Sourcing 2023 program organized by the Ministry of Industry and Trade, which aims to promote connections between distribution channels, foreign importers, and domestic manufacturing and exporting businesses. This is a practical trade promotion activity to support the Vietnamese business community in participating more deeply in the international supply chain, gradually expanding the production-consumption chain of products, goods, and services with domestic and foreign partners, and promoting high-quality Vietnamese products with reputable brands, especially in the context of a decline in the export market in the first months of 2023.

The "Vietnam International Sourcing 2023" event series took place from September 13-15, 2023 at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.

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