Vietnam is in the group of 5 countries that export the most goods to Walmart’s system, mainly textiles, household appliances, electronics and ready-to-eat foods.
Within the framework of his business trip to accompany the Prime Minister to attend the ASEAN-US Special Summit, Minister of Industry and Trade Nguyen Hong Dien had working meetings with key partners as well as American businesses, including leader of the Walmart retail group.
According to the information posted on the website of the Ministry of Industry and Trade, at a meeting with Walmart retail group, Mr. Paul Dyck, Vice President in charge of global government relations, said that the retail group has invested in a direct retail and distribution system in 24 countries, has trading activities, and purchases goods with more than 100 other countries. In particular, Vietnam is currently in the group of 5 countries that export the most goods to Walmart’s system, focusing on supplying textiles, household appliances, electronics and ready-made foods, etc.
According to Mr. Paul Dyck, the emergence of the Covid-19 pandemic, trade conflicts and global geopolitics have increased the risk of supply chain disruptions, posing a requirement to enhance stability and diversify the Group’s supply chain. This is also an issue Walmart wants the support of the Ministry of Industry and Trade, according to the website of the Ministry of Industry and Trade.
Also according to this website, Minister Nguyen Hong Dien shared and highly appreciated Walmart Group’s strategy of ensuring supply, and thanked Walmart for choosing Vietnam as a long-term partner.
The Minister suggested that in the coming time, Walmart needs to strengthen coordination with the Ministry of Industry and Trade in training and improving business capacity, helping businesses understand the requirements of the market and grasp the needs of all kinds of goods, products and proactively source raw materials for production and export; at the same time expanding the list of goods purchased.
At the same time, the Minister also suggested that this retail group needs to build a database system with connectivity, helping to provide multi-dimensional information for businesses; helping to connect with capable US businesses in the fields of supporting industries, materials, processing… in order to build a stable supply of raw materials as well as make good use of Vietnam’s existing Free Trade Agreements is a member to help bring Vietnamese goods into the Group’s retail system into markets around the world.
Vice Chairman Paul Dyck said that in the coming time, the Group will direct the Representative Office in Vietnam to strengthen cooperation with the Ministry of Industry and Trade, sending delegations and purchasing groups to Vietnam to increase the import volume of goods of Vietnamese origin of the Group.
@ Saigon Times
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Source: Vietnam Insider