Walmart supports Vietnamese businesses in expanding global reach

Sep 14th at 07:43

14-09-2023 07:43:57+07:00

With its abundant labor resources, well-developed infrastructure, and socio-political stability, Vietnam has evolved into a major producer and exporter of consumer goods worldwide.

Walmart seeks to build relationships and entice Vietnamese small and medium-sized enterprises to join its global e-commerce network of some 120 million users.

Overview of the meeting. Photos: Nhat Bac/VGP

Avaneesh Gupta, Walmart's Vice President of General Merchandise and Apparel Sourcing, revealed the plan during a meeting with Deputy Prime Minister Tran Hong Ha on September 12.

At the meeting, Deputy Prime Minister Ha warmly welcomed Gupta's visit at this time, coinciding with the establishment of a Comprehensive Strategic Partnership between Vietnam and the US during the state visit of President Joe Biden.

Ha noted Walmart has been actively involved in various investment and business ventures in Vietnam, especially in building a production and supply chain for exporting consumer goods.

Walmart Vice President Gupta emphasized that the favorable policies of the Vietnamese Government have facilitated the smooth setting up and operation of Walmart's production and supply chains in Vietnam, covering exports to global markets, such as textiles, consumer goods, and food.

He expressed the US group's interest in supporting Vietnamese manufacturers and suppliers in creating domestic sources of raw materials with the right quality and price and advancing the digitization of the production process.

They aim to boost productivity, ensure favorable working conditions for employees, and enhance product traceability, Gupta added.

Recognizing the extensive global reach of Walmart's operations, the Deputy Prime Minister acknowledged that Vietnam, with its abundant labor resources, well-developed infrastructure, and socio-political stability, has evolved into a major producer and exporter of consumer goods worldwide.

Deputy Prime Minister Tran Hong Ha (R) and Walmart Vice President Avaneesh Gupta.

According to Ha, Vietnamese manufacturers and suppliers possess the potential and capability to engage in the entire spectrum of the production process, spanning from raw materials and design to production and marketing.

"This provides an important foundation for Vietnamese enterprises to work together with leading retail giants such as Walmart to build a cohesive, comprehensive, and sustainable "ecosystem" in conjunction with leading retail giants like Walmart, characterized by a long-term commitment to sharing the benefits derived from the consumer goods supply chain," Ha said.

"We must ensure that the cooperation among all stakeholders within this ecosystem is transparent and enduring, with clear responsibilities and duties for the government, ministries, sectors, local authorities, and businesses," he affirmed.

He also emphasized that Vietnam, having signed 17 free trade agreements, fully upholds its commitments to labor and environmental standards.

Commenting on the robust growth of e-commerce in Vietnam, the Deputy Prime Minister asserted that the government continues to guide ministries and branches in developing regulations and standards that safeguard the safety and rights of consumers when they make transactions.

Hanoi Times