Foreign retail distributors choose Vietnam as strategic location: official
Many foreign retail distributors, promoting strategies to diversify their supply chains and ensure a sustainable and resilient supply, have chosen Vietnam as a strategic location in the global supply chain, according to Ta Hoang Linh, Director of the European-American Market Department under the Ministry of Industry and Trade (MoIT).
Hanoi (VNA) - Many foreign retail distributors, promotingstrategies to diversify their supply chains and ensure a sustainable andresilient supply, have chosen Vietnam as a strategic location in theglobal supply chain, according to Ta Hoang Linh, Director of theEuropean-American Market Department under the Ministry of Industry and Trade(MoIT).
The Vietnam International Sourcing 2023 next month will be a chancefor Vietnamese enterprises to meet hundreds of leading distributors and importersaround the world to find cooperation opportunities as well asexchange information and learn from their experience so that Vietnamese goodscan better access international distribution channels, said Linh.
On the other hand, foreign distributors and importers canfind more reputable partners from Vietnam, and collect more usefulinformation about Vietnamese products so as to diversify sources of goods for distributionsystems in the host markets.
To meet big distributors’ demand and diversify exportmarkets, the official advised Vietnamese firms to grasp information, and bettermarket and customer positioning to focus on researching and developing suitableproducts for each market, building a methodical production and export plan tobe able to adapt to requirements when participating in the supply chain.
Enterprises need to pursue green production, ensuretransparency and traceability, and pay due attention to implementing socialresponsibility and environmental protection and ensuring labourers’ rights andinterests, Linh stated.
Foreign retail distributors choose Vietnam as strategic location (Photo: VNA)
It is also necessary to build and promote brands, he said,adding that the Ministry of Industry and Trade will carry out activities toraise awareness of businesses of sustainable development, green production andbranding.
Through cooperation mechanisms, it will continue to advocatefor policies with trade partners to remove barriers in terms of market accessto minimise the burden on costs for local manufacturers and exporters.
The MoIT will maintain coordination with other ministries, sectorsand associations to step up trade promotion, and support enterprises in selling goods in the domestic market and export markets, added the official.
The Vietnam International Sourcing 2023, to be held from September13 – 15 in Ho Chi Minh City, is expected to attract 8,000 visitors and about200 business delegations from 30 countries and territories worldwide./.
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Illustrative image (Photo: vneconomy.vn) 
Foreign retail distributors choose Vietnam as strategic location (Photo: VNA) 
