Ministry of Industry and Trade holds press conference to introduce information about International Goods Supply Event Chain 2023

Aiming to promote exports

Speaking at the press conference, Mr. Ta Hoang Linh - Director of the European - 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 trend of increasingly deep international economic integration, as well as promote connections between distribution channels, foreign importers with domestic production and export enterprises, the Ministry of Industry and Trade and the People's Committee of Ho Chi Minh City co-chaired the organization of the event series "Connecting international supply chains" (Viet Nam International Sourcing 2023) from September 13-15, 2023 at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.

The series of events is an activity to actively implement the Project "Promoting Vietnamese enterprises to directly participate 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 - American Markets and the People's Committee of Ho Chi Minh City assigned the Investment and Trade Promotion Center (ITPC) to coordinate with relevant units to organize the series of events.

The Ministry of Industry and Trade held a press conference to introduce information about the event series Connecting international supply chains - Viet Nam International Sourcing 2023

The series of events includes the Export Forum “Connecting the International Supply Chain”, seminars, trade connection activities and “International Supply Chain Connection Exhibition - Viet Nam International Sourcing Expo 2023”. The exhibition with a scale of 8,000m2 for 300 enterprises, representing different fields in the international supply chain, will be deployed at the same time at SECC, organized by ADPEX Professional Exhibition Company, under the direction of the Department of European - American Markets, Ministry of Industry and Trade.

According to Mr. Linh, the event took place in the context that in recent years, Vietnam has been transforming strongly to become a major global manufacturing center with the ability to supply the world market with a variety of products, rich in variety, competitive in price and increasingly improved quality. At the same time, after the pandemic and recent geopolitical and economic instability, many corporations and retail/wholesale distribution channels are promoting diversification strategies, ensuring sustainable supply and have chosen Vietnam as a strategic location in their global supply chain.

Viet Nam International Sourcing Expo 2023 is highly appreciated by experts and businesses for its professionalism and meticulousness in the organization process. The businesses selected to introduce to importers, distribution groups and international purchasing delegations are all businesses that have achieved international certificates, have high-quality products in industries that Vietnam has strengths in and international distributors and retailers have demand for such as: Food, textiles, footwear, backpacks, handbags, sports and outdoor goods, household appliances and furniture, supporting industries... "The event promises to attract 8,000 visitors, trading with 200 international delegations from 30 countries and territories. The Organizing Committee also coordinates with local Departments of Industry and Trade to bring purchasing delegations to survey businesses in some localities" - Mr. Linh informed.

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

In particular, the series of events recorded the unprecedented participation of the Vietnam Trade Office/Trade Office branch system. Trade Offices and Trade Office branches have widely promoted Vietnam International Sourcing 2023 to importers, distribution channels, and foreign business associations to invite international purchasing delegations to participate in various forms suitable to the host country (direct or electronic communication, through trade promotion channels, networking...).

According to Mr. Ta Hoang Linh, under the direction of the European - American Market Department and the Asian - African Market Department, the Trade Offices and branches of the Vietnam Trade Office abroad have proactively and actively sought, contacted, worked to persuade and invited purchasing delegations, import enterprises, and fertilizer enterprises of the host country to come to Vietnam to participate in the above-mentioned series of exhibitions and seminars.

It is known that this year's event also recorded unprecedented participation from large corporations in the world. The Director of the European - American Market Department informed that during the three days of Viet Nam International Sourcing 2023, 10 specialized seminars and business forums, useful trade connections will be held throughout, with the participation of large corporations: typically Aeon, Uniqlo (Japan); Walmart, Amazon, Boeing, AES (USA), Carrefour, Decathlon (France); Central Group (Thailand); Coppel (Mexico); IKEA (Sweden), LuLu (UAE)...

Support businesses to connect international supply chains

In addition to promoting exports, Viet Nam International Sourcing 2023 also has additional sideline activities to support businesses in improving their capacity and developing sustainably when entering the global market. Leading experts from Europe held an online training session for businesses attending the exhibition before the exhibition and a direct consulting activity at SECC on September 12, 2023 to prepare businesses to make the most of networking opportunities, right before the event begins.

Viet Nam International Sourcing 2023 is not only an event to promote exports and develop important markets, but also a place for businesses to meet, exchange, learn and share experiences. The organizers hope that many agreements and trade transactions will be successfully signed at the event, and that participating units will meet many partners and customers and have more business ideas suggested after forums, seminars, etc. so that Viet Nam International Sourcing 2023 becomes a prestigious business meeting place for businesses, contributing to bringing Vietnamese goods and products to the global market.

As the coordinating unit to organize the International Goods Supply Event Series - Viet Nam International Sourcing 2023, Mr. Do Quoc Hung - Deputy Director of the Asia - Africa Market Department (Ministry of Industry and Trade) said that the Asia - Africa Market Department closely coordinated with the Europe - America Department, Ho Chi Minh City to invite businesses and distributors in the Asia - Africa region to participate in the event. "Through initial understanding, businesses are very interested in Vietnam's strengths such as agricultural products, processed foods, forestry products... This is an opportunity for Vietnamese businesses to learn information and seek opportunities through the upcoming event series" - Mr. Hung informed.

Mr. Ta Hoang Linh said that at present, after the Covid-19 crisis, politics, there are business distributors with a need to diversify their supply chains; consumers also have a need to consume new, sustainable products. Therefore, organizing programs to connect trade, helping Vietnamese businesses take advantage of opportunities to participate in the supply chain is extremely urgent. Thereby, creating new purchasing channels, ensuring sustainability and long-term resilience.

Mr. Ta Hoang Linh added that the European - American Market Department conducted a small survey, showing that 90% of businesses are aware of sustainable factors and the pressure to switch to sustainable production and consumption; 60% of businesses are conducting activities and investing in sustainable development. "We will strive to support and meet the needs of businesses. The Organizing Committee hopes to provide businesses with sufficient information so that they can find production and business directions in the context of new challenges from the market," Mr. Linh emphasized.

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

In the first 8 months of 2023, the socio-economic situation of Ho Chi Minh City achieved many positive results, the index of industrial production (IIP) of the whole industry increased by 2.8% over the same period, for 4 key industries, the index of industrial production increased by 6%; total retail sales of goods and consumer service revenue increased by 7.6%. However, the import-export turnover of Ho Chi Minh City decreased compared to the same period, in the first 8 months of 2023 it is estimated at 63.75 billion USD, down 21.9% over the same period, of which export turnover reached 27.54 billion USD, down 15.3% and import turnover reached 36.21 billion USD, down 17.3% over the same period.

In that context, Mr. Tran Phu Lu - Director of the Center for Trade and Investment Promotion of Ho Chi Minh City said that in order to contribute to the sustainable development of the country's economy, the city needs to increase support for the business community to grow 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 products and expand domestic and international consumption markets.

According to Mr. Tran Phu Lu, Ho Chi Minh City People's Committee highly appreciated the Vietnam International Sourcing 2023 program organized by the Ministry of Industry and Trade with the aim of promoting connections between distribution channels, foreign importers and domestic manufacturing and exporting enterprises. This is a meaningful trade promotion activity to support the Vietnamese business community to have the opportunity to participate more deeply in the international supply chain of goods, gradually expanding the production - consumption chain of products, goods and services with domestic and foreign partners, promoting Vietnamese products with quality and reputable brands, especially in the context of declining export markets in the first months of 2023.

The event series “Connecting the international supply chain” (Viet Nam International Sourcing 2023) takes place from September 13-15, 2023 at Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.

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