Mekong Delta businesses should work with Vietnamese-owned counterparts in the US: Experts
Mekong Delta businesses should connect with businesses owned by ethnic Vietnamese in the US to facilitate the distribution of Vietnamese goods in that country, experts have said.
According to Viet Nam’s ambassador to the US, Ha Kim Ngoc, who spoke at an online conference to connect delta-based exporters with Vietnamese businesses in the US, the delta is renowned for its rice and other high-quality agriculture produce and it accounts for 50 per cent of the country’s food production.
Provinces there are also getting investment in traffic and logistics, and are becoming large exporters.
Demand for Vietnamese goods in the US is on the rise, and there are over 300,000 businesses owned by ethnic Vietnamese in the US, many of which focus on distributing goods to Vietnamese communities.
They could become a bridge between Vietnamese goods and the US and between Vietnamese businesses overseas and in Viet Nam, he said.
Nguyen Hoanh Nam, deputy chairman of the State Committee for Overseas Vietnamese, said overseas Vietnamese business communities were making an effort to develop distribution systems in foreign countries for Vietnamese goods, including in the US, where nearly half of all overseas Vietnamese live.
“Vietnamese businesses in the US are paying more and more attention to the Mekong Delta.”
Connecting Mekong Delta businesses with Vietnamese businesses in the US means local exporters can utilise the latter to boost exports and improve their goods’ profile in international markets, according to Nam.
Ngoc said there were however barriers to the Mekong Delta’s exports to the US, such as criteria regarding the environment, labour and origin.
US businesses also expected Vietnamese partners to do long-term business with them, provide steady supply and know their country’s regulations well, he said.
According to Vietnamese businesses in the US, there is a lot of potential for selling Mekong Delta products in the US, but logistics issues and failure of product quality to meet US standards remain big challenges.
Bui Huy Son, head of the Viet Nam Trade Office in the US, said businesses in Viet Nam needed to carefully research market demand and relevant regulations and requirements, improve their competitiveness by cutting costs and record goods information carefully.
Delta businesses needed to improve their products’ quality, make use of their regional specialties and utilise networking opportunities with overseas Vietnamese businesses, Ngoc said.
Trade between Viet Nam and the US was worth nearly US$76 billion last year, up 25 per cent year-on-year.
The conference was held by the HCM City Department of Foreign Affairs’ Foreign Service Centre, the Business Association of Overseas Vietnamese and the Vietnamese Entrepreneurs Network in the United States of America on November 12.