Walmart plans to expand purchase of Vietnamese goods
Walmart, the renowned retail giant based in the US, expects to turn Vietnam into a goods supply centre of Asia, Andrea Albright, Executive Vice President, Sourcing, for Walmart, has told Minister of Industry and Trade Nguyen Hong Dien.
Vietnamese officials and Walmart representatives in a group photo. (Photo: MoIT)
Hanoi (VNA) – Walmart, the renownedretail giant based in the US, expects to turn Vietnam into a goods supplycentre of Asia, Andrea Albright, Executive Vice President, Sourcing, forWalmart, has told Minister of Industry and Trade Nguyen Hong Dien.
At the meeting, which took place in San Francisco on November14, Albright stressed that Vietnam is among the five largest goods suppliers to Walmart's global supply chain, not only in the US but also inother markets like China, Canada and Mexico.
Walmart purchases billions of US dollar worth of goodsfrom Vietnam each year, mainly garments-textiles, leather and footwear, and food,she said, adding that the retailer will purchase other items from the SoutheastAsian nation in the coming time, including household utensils, electronics, andtoys of all kinds, among others.
Albright suggested the Ministry of Industry and Trade(MoIT) help the retail giant expand its operations and further stabilise itssupply chain in Vietnam, especially in the context of the increasing risk ofsupply chain disruption due to trade conflicts and geopolitical tensionsglobally.
For his part, Dien urged Walmart to step up itspurchase in Vietnam, while enhancing its coordination with the MoIT’s agenciesin raising capacity for local businesses, and popularising market informationto make it easier for local firms to put forth their production and exportstrategies when joining the global distribution, wholesale and retail system.
Vietnam is proactively and actively participating inthe global production network and value chain. Therefore, the country aims to promotesupport industries, the official said, stressing that Vietnam absolutely observesregulations on sustainable development as committed in free trade agreements,including those on environmental protection and forced labour prevention.
Dien used the occasion to invite Walmart to join VietnamInternational Sourcing, a series of events aimed at connecting internationalsupply chains, slated for June 2024.
Walmart agreed to send representatives to the eventsand suggested boosting training for Vietnamese suppliers on this occasion./.
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Vietnamese officials and Walmart representatives in a group photo. (Photo: MoIT) 
