Walmart to meet local suppliers
Executives of American retail giant Walmart are expected to meet around 50 domestic suppliers in the textile, footwear, furniture and food industries in HCMC next week to look for products for its stores.
According to the American Chamber of Commerce (AmCham), about 100 enterprises, including foreign-invested ones, will attend a conference on the development of supply firms owned by women in Ho Chi Minh City on January 15. The event is jointly organized by Walmart and the Vietnam Trade Facilitation Alliance (VTFA).
On the same day after the conference, Walmart will have meetings with 50 Vietnamese companies to search for potential suppliers.
The Vietnam Chamber of Commerce and Industry (VCCI) said that to support enterprises to meet requirements of Walmart, VTFA joined hands with VCCI and partner associations to hold two training sessions for more than 200 companies on November 25 and December 11 last year.
The associations comprised the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), the Ho Chi Minh City Association of Women Entrepreneurs (HAWEE), the Vietnam Textile and Apparel Association (VITAS) and the Investment and Trade Promotion Center of Ho Chi Minh City (ITPC).
Herb Cochran, executive director of AmCham Vietnam in Ho Chi Minh City, said the training sessions aimed at helping firms know the requirements of Walmart and that they can become suppliers of any company in the world once meeting those requirements.
He added that large companies like Walmart or small and medium firms in the US have sourcing procedures that potential suppliers should understand and observe. For example, most US buyers require suppliers to have Dun & Bradstreet (D&B)’s Data Universal Numbering System (DUNS) numbers and electronic data interchange (EDI).
In particular, DUNS numbers are nine-digit identification numbers which are issued to enterprises that have passed the verification of D&B company and will be added to its global database. This code enables easy access to business information and helps global trade become more favorable.
In June 2013, Walmart opened a representative office in Ho Chi Minh City and is looking for local suppliers.
VFTA founding members include the United States Agency for International Development (USAID), VCCI and AmCham.