Walmart buys billions of dollars worth of Vietnamese goods every year

11/15/2023 15:57 Ha Linh Print article

ANTD.VN - According to Ms. Andrea Allbright - Executive Vice President, in charge of purchasing department of Walmart Group, Walmart currently purchases billions of dollars worth of goods from Vietnam each year, focusing mainly on items such as textiles, footwear, food, etc.

Bộ trưởng Bộ Công Thương Nguyễn Hồng Diên làm việc với đại diện Walmart

Minister of Industry and Trade Nguyen Hong Dien works with Walmart representatives

Within the framework of the working program in the United States accompanyingthe President to attend the APEC 2023 Summit Week in San Francisco (USA), Minister of Industry and Trade Nguyen Hong Dien received Ms. Andrea Allbright, Executive Vice President, in charge of purchasing department of Walmart Group to discuss cooperation in developing Walmart's supply chain in Vietnam, as well as measures to support Vietnamese suppliers to participate in Walmart Group's global value chain.

At the meeting, Ms. Andrea Allbright said that Vietnam is currently among the top 5 countries exporting the most goods to the global Walmart system. Vietnamese goods have not only penetrated the Walmart system in the United States but also in other major markets such as China, Canada, Mexico, etc.

In the coming time, the Group's strategy is to focus on building Vietnam into a regional goods supply center in Asia.

Currently, Walmart has purchased billions of dollars worth of goods from Vietnam each year, but is still focusing mostly on items such as textiles, footwear, food, etc. In the near future, Walmart will focus on expanding its purchasing activities to household goods, electrical and electronic equipment, and toys of all kinds.

The Vice President of Walmart Group also asked the Ministry of Industry and Trade to help support the expansion of operations and enhance the stability of Walmart Group's supply chain in Vietnam, especially in the context of increasing risks of supply chain disruption caused by trade conflicts and global geopolitical tensions.

Minister Nguyen Hong Dien highly appreciated Walmart Group's strategy of diversifying supply sources and thanked Walmart for choosing Vietnam as a key point for developing the Group's supply chain in the future.

The Minister suggested that in the coming time, Walmart should simultaneously promote purchasing in Vietnam and strengthen coordination with units of the Ministry of Industry and Trade in training, improving business capacity, and disseminating market information so that businesses can proactively build production and export strategies when participating in supplying to the global distribution, wholesale and retail system.

Minister Nguyen Hong Dien said that Vietnam is proactively and actively participating deeply in the global production network and value chain. Therefore, Vietnam's viewpoint is to continue developing supporting industries, thereby proactively taking advantage of input materials and components, striving to ensure a "clean and stable supply chain", strictly complying with the regulations on sustainable development that Vietnam has committed to in free trade agreements, including protecting nature, the environment, and preventing the use of forced labor, etc.

On this occasion, Minister Nguyen Hong Dien invited Walmart Group to continue sending purchasing delegations to Vietnam to attend the Vietnam Sourcing 2024 International Supply Chain Connection Event Series scheduled to be held in June 2024.

Based on the positive trade connection results when participating in the Vietnam Sourcing 2023 event, Walmart Group agreed to send a delegation of senior leaders and purchasing offices in the region to participate in the event series.

At the same time, Walmart proposed to take advantage of the Event Series to promote guidance, training, and development of Vietnamese suppliers so that they can effectively export to the Walmart Marketplace e-commerce platform, thereby accessing the Walmart system worldwide.

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