Many foreign retail distributors, promoting strategies to diversify their supply chains and ensure a sustainable and resilient supply, have chosen Vietnam as a strategic location in the global supply chain, according to Ta Hoang Linh, Director of the European-American Market Department under the Ministry of Industry and Trade (MoIT).

The Vietnam International Sourcing 2023, which will be hosted by the Ministry of Industry and Trade (MoIT) from September 13 – 15 in Ho Chi Minh City, is expecting to attract about 150 business delegations from 30 countries and territories worldwide.

VOV.VN - Foreign retail giants such as Central Retail, AEON, and MM Mega Market have set their sights on capturing a larger share of the Vietnamese market, according to industry insiders.

Vietnam is becoming increasingly more and more attractive in the eyes of foreign retail giants.

The expected dominance of foreign retailers in the Vietnamese market has not occurred. Many foreign giants have left and Vietnamese retailers are controlling the market.

Foreign retail businesses are adopting a multi-channel sales strategy as well as improved operations and delivery services to expand Vietnam operations despite pandemic impacts.

The increasing presence of foreign giants has put great pressure on domestic retailers.

VOV.VN - Standard Chartered Bank has identified the nation as one of the priority destinations among emerging economies due to its development potential and open-door policy.

The export of Vietnamese goods via the distribution networks of foreign retailers has proven to be an effective and sustainable channel, Deputy Minister of Industry and Trade Do Thang Hai told a conference in Hanoi on December 17.