Connecting international trade, expanding export opportunities
In the context of the world economy constantly fluctuating, Vietnam is promoting a strategy to diversify markets, products and distribution channels to adapt to new trends in global trade. One of the outstanding activities contributing to the realization of this strategy is the series of events "Connecting the international goods supply chain - Viet Nam International Sourcing (VIS)" organized by the Ministry of Industry and Trade in coordination with the People's Committee of Ho Chi Minh City from 2023 to present.
According to Mr. Ta Hoang Linh - Director of the Department of Foreign Market Development (Ministry of Industry and Trade), after two years of organization, the event series has supported more than 600 Vietnamese enterprises to connect with hundreds of international partners through more than 4,000 exchanges, contributing to boosting exports in the context of a volatile world market. Enterprises not only seek outputs but also approach suppliers of raw materials, machinery and equipment from abroad, thereby optimizing production costs and improving competitiveness.
At the same time, connecting Vietnamese enterprises with international suppliers of raw materials and machinery to serve the production and business process, helping enterprises achieve high efficiency in stabilizing input supply for production and operation, reducing costs, while increasing product value.
In addition to traditional markets such as the US, EU, Japan, and South Korea, the event is expected to welcome more purchasing groups from the Middle East, Latin America and Eastern Europe - potential emerging markets. This helps domestic enterprises effectively take advantage of the 17 Free Trade Agreements that Vietnam has signed, minimizing risks due to dependence on certain markets.
Ho Chi Minh City takes advantage, promotes trade promotion
As an export unit of the Southern key economic region, Ho Chi Minh City proactively supports businesses to improve their capacity, meet sustainable consumption trends and expand to new potential markets.
Mr. Tran Phu Lu - Director of the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) said that this is the "golden" time for Vietnamese enterprises to access international investment capital and technology and participate more deeply in the global supply chain in shortage.
Ho Chi Minh City has a great advantage in quickly updating consumer trends and commodity regulations, thereby supporting businesses to adjust production and business strategies to suit the requirements of each market, especially when the trend of sustainable consumption and green production is increasingly popular.
One of the practical activities to support exporting enterprises in Ho Chi Minh City is to create conditions for enterprises to access the international goods supply chain, connect with global buyers and distributors. Thereby, businesses have the opportunity to update the latest information on key markets, policies and regulations on import and export, thereby effectively orienting export strategies in the coming years.
