Sustainable supply chains to help reinforce foothold of Vietnamese goods
Sustainable domestic supply chains help businesses improve competitiveness against foreign rivals and retain consumer trust, thus sustaining growth in domestic and foreign trade of Vietnamese goods.
A space for Vietnamese goods at a supermarket (Photo: VNA)
HCM City (VNA) ꧑– Sustainable domestic supply chains help businesses improve competitiveness against foreign rivals and retain consumer trust, thus sustaining growth in domestic and foreign trade of Vietnamese goods.
Vu Van Phuong, a representative of the organising board of the high-quality Vietnamese goods survey 2024, said survey results show that traditional retail channels, especially specialised shops, groceries, and authorised stores, still dominate the supply of most consumer products. Distribution channels are flexible to new selling methods like via social media as well as to non-cash payment via e-wallet or online money transfer.
Online shopping has continued to grow strongly in Vietnam’s retail market, he said, noting that to meet demand, sellers have boosted livestream selling – a method expected to boom in the time ahead.
The Ho Chi Minh City Department of Industry and Trade reported that with a growth rate of 37% in e-commerce revenue, this city boasts the largest and fastest-growing e-commerce market in Vietnam.
In 2023, HCM City posted the biggest e-commerce sales – 6.2 billion USD, equivalent to 29% of the total nationwide. Meanwhile, the sales as calculated according to stores’ locations reached 4.7 billion USD to account for 23% of the total, statistics show.
E-commerce revenue increased, but the number of online sellers declined 18.52%, indicating that the e-commerce market is becoming more selective and witnesses fiercer competition as consumers prioritise reputable sellers. Therefore, it will be hard for those without appropriate strategies to survive in the market, the department said.
Tran Kim Yen, President of the Vietnam Fatherland Front Committee of HCM City and deputy head of the local steering board for the “Vietnamese people prioritise Vietnamese goods” campaign, said that one of the focal measures the steering board is promoting is to develop sustainable Vietnamese goods supply chains that must be truly modern, transparent, safe, and efficient.
The businesses involved in those supply chains must uphold the spirit of transparency, responsibility, honest production, and honest distribution, she noted.
The formation of such supply chains for Vietnamese goods will provide a prerequisite for building proper production orientations and improving goods quality so that made-in-Vietnam products will become able to compete with imports and enter demanding foreign markets./.
Amid global uncertainties, the continued maintenance of macro-economic stability will form an important foundation for Vietnam to achieve next year’s growth target, said General Director of the General Statistics Office (GSO) Nguyen Thi Huong.
After successfully conquering international markets, many businesses have returned to conquer the domestic market as more and more customers choose to buy Vietnamese products.
A week-long event to honour Vietnamese products was launched at the Carrefour hypermarket in the Westfield Carré Sénart shopping centre in Seine-et-Marne province, Île-de-France, on February 7.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
A space for Vietnamese goods at a supermarket (Photo: VNA)
