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The event, also known as “Vietnam International Sourcing 2024”, aims to support Vietnamese companies by enabling them to integrate more deeply into global production and supply chains. This initiative is in line with the growing trend of Vietnam's international economic integration, and responds to the needs of local companies to diversify and expand their markets.
What makes this event particularly exciting is the participation of many renowned players in the distribution and retail sector. Among them, MINISO, a Chinese retail chain, is making its debut at the event. MINISO is an impressive company with over 6,400 stores in 105 countries, serving over a billion customers worldwide. They are looking for new Vietnamese suppliers for a wide range of products, including household goods, cosmetics, food, toys, furniture and handicrafts.
MINISO, however, is not the only large-scale company looking for opportunities in Vietnam. Japanese retail giant AEON will also be sending teams of buyers from five countries to attend the event. Their aim is to discover new Vietnamese products for their supermarkets, thus increasing the presence of Vietnamese products on international markets.
For Vietnamese companies, this event represents a unique chance to connect with international buyers and distributors. The Ministry of Industry and Trade's Europe-America Market Department reports that many foreign distribution networks and companies have expressed interest in taking part in the event. Distributors from all continents have high expectations and hope to find Vietnamese flagship products to introduce into their networks.
One example of this dynamic is the interest shown by Nordic companies, who developed a very positive perception of the Vietnamese market after the 2023 edition. Companies such as IKEA and Scanesia signed several contracts immediately after last year's event, introducing new products to their respective markets. In 2024, these companies will be looking to further expand their partnerships in sectors such as food and wood, while meeting the European Union's strict food safety and sustainability standards.
Sustainability is a central theme of this event. According to Nguyên Thi Hoàng Thuy, Vietnam's trade advisor in Sweden and Northern Europe, the trend towards more sustainable and responsible production and trade is becoming increasingly important. This includes aspects such as working conditions, water use, waste management and emissions reduction. Products from Vietnamese companies will be accepted by Nordic buyers if they comply with sustainability initiatives.
The event is not limited to a single sector. Distribution and retail companies are looking for products in a variety of fields. For example, Falabella, the largest retailer in the Latin American region, attended the 2023 event to seek partners in apparel and sports equipment. This year, they hope to extend their purchases to textiles, footwear, sportswear, electrical appliances and household goods.
Vietnam International Sourcing 2024 will be twice as big as the previous edition, with a surface area of 10,000 m² and 500 participating companies. During the three-day event, specialized seminars and business meetings will be organized, with the participation of giants such as AEON, Uniqlo, Walmart, Amazon, Safeway, Carrefour, Decathlon, Central Group, Coppel, IKEA, and LuLu, among others.
This event is part of a larger project to promote the direct participation of Vietnamese companies in foreign distribution networks by 2030, a project approved by the Vietnamese Prime Minister. The aim is to strengthen the capabilities of local companies and give them the tools they need to succeed on the international stage.
This event represents an invaluable opportunity for Vietnamese companies to position themselves on the global market. With the participation of major names in distribution and retail, the event promises to facilitate strategic partnerships, promote sustainable business practices and strengthen Vietnamese exports. Local companies have a unique chance to shine, build lasting relationships and make a significant contribution to the global economy.
