Walmart execs to discuss cooperation with Vietnam suppliers in Jan
Walmart execs to discuss cooperation with Vietnam suppliers in Jan
Vietnamese companies will have the chance to meet and discuss with Walmart executives how to become a qualified supplier for the world’s largest retailer, in an event taking place in Ho Chi Minh City next week.
Representatives from around 100 firms from the U.S. are expected to attend the Walmart Women Owned Businesses Supplier Development Conference, scheduled for January 15, according to the American Chamber of Commerce in Vietnam (AmCham).
The event will be jointly organized by AmCham, Walmart and the Vietnam Trade Facilitation Alliance (VTFA).
The conference will include discussions with Walmart executives and “explanations about how to become a qualified supplier for Walmart’s global supply chains,” the AmCham said on its website.
In the morning session, the event will feature discussions about several issues, including challenges Vietnamese suppliers usually face in meeting Walmart compliance requirements, according to the agenda seen by Tuoi Tre News.
In the afternoon, the U.S. firms will meet with some 50 Vietnamese businesses to “vet out potential women-owned-business suppliers.”
Herb Cochran, executive director of AmCham Vietnam, said the meeting will let Vietnamese suppliers know what requirements and procedures they have to satisfy and carry out to be able to put their products on Walmart shelves.
While all hurdles could not be cleared immediately after the meeting, Cochran said the event serves as “necessary initial steps” for a long journey to begin.
In November last year, the VTFA collaborated with the Vietnam Chamber of Commerce and Industry (VCCI) and several industry associations to hold two training sessions for more than 200 local businesses to prepare for the coming conference, according to The Saigon Times Online.
The training was intended to help Vietnamese firms know what Walmart expects from them, The Saigon Times Online quoted Cochran as saying in a separate statement.
The AmCham executive director said once Vietnamese companies qualify to be Walmart suppliers, they can sell their products to any retailer in the world.
Established in December 2014, the VTFA is an alliance between AmCham, VCCI and the United States Agency for International Development (USAID).
The Bentonville, Arkansas-based Walmart has maintained a presence in Vietnam through a representative office since late 2013, and has so far built relations with many local suppliers.
As of November 30, 2015, Walmart had had stores in 11,598 locations worldwide.
The company’s net profit fell to US$3.304 billion in the third quarter ended on October 31, 2015 from $3.711 billion a year earlier, according to Reuters.
Walmart’s consolidated revenue also dropped 1.3 percent to $117.4 billion, weighed down by its international operations, which have been hurt by a stronger dollar, according to a company report.
