Vietnam transforming into new global manufacturing hub: experts

Vietnam is transforming into a new global manufacturing hub, offering a diverse range of products that are competitively priced and continuously improving in quality, assessed foreign distributors and importers, who will participate in the Vietnam International Sourcing expo this June.
At the conference held by the Ministry of Industry and Trade in Ho Chi Minh City on April 12. (Photo: VNA)
At the conference held by the Ministry of Industry and Trade in Ho Chi Minh City on April 12. (Photo: VNA)

The assessment was made as they were brought together at a conference held by the Ministry of Industry and Trade in Ho Chi Minh City on April 12.

In his remarks, Ta Hoang Linh, Director of the ministry’s European - American Market Department, said Vietnam is a crucial link and a strategic location in the global supply chain within the Indo-Pacific.

He stressed that the upcoming is a key event for promoting exports and developing markets, serving as a platform for businesses to network, learn, and exchange experiences.

The annual expo, organised by the ministry and the Ho Chi Minh City authorities at the Saigon Exhibition and Convention Center (SECC) from June 6-8, is set to expand significantly from the previous edition. It will occupy over 10,000 square metres to accommodate 500 enterprises representing various sectors within the international supply chain. The focus will be on the five main product groups of food and beverages, clothing and fashion, footwear-bag-accessories, sports equipment, and home goods and furniture.

Featuring a series of symposiums, the expo attracts unprecedented interest from major global distribution and purchasing corporations, including Japan's Aeon and Uniqlo, the US’s Walmart, Amazon, and Safeway, Chile's Falabella, France's Carrefour and Decathlon, Thailand's Central Retail, Mexico's Coppel, and Sweden's IKEA.

Paul Le, Vice President of Central Retail, said the June expo is a pivotal event in the company’s procurement activities. Currently, 95% of the goods distributed in its supermarkets are sourced from Vietnamese suppliers.

In addition to procuring goods for the Vietnamese market, the corporation aims to boost the export of Vietnamese products globally through its international supermarket network, he noted.

Yuichiro Shiotani, Director of Aeon Topvalu Vietnam, suggested the Southeast Asian nation leverage its diverse and high-quality agricultural resources to create greater value.

He said that 100% of many farm produce sold at Aeon malls, such as fresh bananas and mangoes, are now sourced from Vietnam instead of Thailand and the Philippines as previously. This year, the group will focus on expanding in categories such as garments, household items, and food.