Walmart pushes for more Vietnamese products in its distribution network
Walmart has been working with Vietnamese partners and is willing to address their concern in approaching its distribution system.
US major retailer Walmart plans to add more Vietnamese products to its distribution network to meet the fast-growing demand in the global market, according to Johnny Fung, senior director of Walmart Global Sourcing.
Overview of the meeting. Source: VGP.
|
As of present, Walmart has made its presence in 28 countries with revenue of US$500 billion in 2018, serving an average of 270 million customers per week.
This leads to the retailer’s huge needs for new products and suppliers, Fung added.
Fung said Walmart has been working with Vietnamese partners and is willing to address their concern in approaching its distribution system, particularly in improving production capabilities and technologies, raising awareness in labor safety and protecting labor rights.
Ta Hoang Linh, director of the European – American Market Department under the Ministry of Industry and Trade (MoIT), said Vietnamese market has gained significant interests from the world’s global retailers, including Walmart.
Linh stated the MoIT is tasked with facilitating the participation of Vietnamese enterprises into global value chain.
The MoIT would support Walmart in setting up a system of qualified suppliers, gradually increase the proportion of Vietnamese goods in its distribution network globally, Linh said.
To Tuong Lan, vice general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the most challenging issue for Vietnamese seafood companies are the compliance of sustainable development and social responsibility standards.
At the meeting, representatives of Vietnam Textile and Apparel Association (VITAS), Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), among others, expressed interests in joining Walmart’s distribution network.
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.
21:14, 2024/10/31
Vietnam, Brazil: Building bridges through shared history and new partnerships
Vietnam and Brazil are forging a future of mutual development, bridging continents through their shared history and new partnerships.
16:54, 2024/10/29
Hanoi to attract tourists by showcasing local specialties at wholesale markets
Hanoi aims to enhance supervision of food safety and traceability, along with promoting cashless transactions.
16:28, 2024/10/27
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
This year's event will focus on celebrating and raising the status of Vietnamese products, according to the Ministry of Industry and Trade.
18:39, 2024/10/21
Vietnamese goods in rising demand among Hanoi residents
The domestic market, estimated to be worth US$180 billion and projected to grow to US$350 billion by 2025, presents an opportunity for Vietnamese goods to gain a foothold domestically.
- Hanoi unveils 2024 rural industrial plans
- Hanoi advances supporting industries for hi-tech services
- Vietnam’s economy remains resilient amid global uncertainties: ADB
- Vietnam’s 9-month fruit and veggie exports match last year's sales
- Growing interest from Chinese investors in Vietnam’s market
- Hanoi Supporting Industry Fair 2024 draws big business