On July 12, the Ministry of Industry and Trade hosted an event called “Connecting Trade between Suppliers in the Southern Provinces and Exporting Enterprises and Trade Promotion Organizations.”

The conference saw the participation of more than 300 businesses from 18 provinces and cities in the Southern region. Mr. Vo Van Hoan, Vice Chairman of the People’s Committee of Ho Chi Minh City, was present at the event.

During his speech at the conference, Mr. Do Thang Hai, Deputy Minister of Industry and Trade, highlighted the various difficulties and challenges the global economy has encountered since the beginning of 2023. The Russia-Ukraine conflict has been prolonged; despite cooling down, global inflation remains at a high level, and the tightening monetary policy has strongly impacted economic growth, investment, and consumption.

Many major economies, including significant trading partners of Vietnam, have witnessed a slowdown in growth, with some even slipping into recession. This situation has had a negative effect on Vietnam’s import and export operations, leading to various challenges.

Supporting this viewpoint, Vice Chairman Vo Van Hoan of the HCMC People’s Committee added that during the first half of 2023, Vietnam’s overall export revenue declined by 12.1 percent, with HCMC experiencing a substantial drop of 22.4 percent compared to the same period last year. It is forecasted that geopolitical conflicts in certain countries will continue to be complex, fuel prices will experience rapid fluctuations, and global inflation will rise, resulting in an ongoing decline in consumption trends.

Furthermore, challenges such as food security threats, climate change, natural disasters, and pandemics in various regions across the globe will adversely affect Vietnam’s export activities, directly impeding the nation’s recovery and economic development efforts.

Given these circumstances, the Ministry of Industry and Trade has instructed the Department of Trade Promotion to collaborate closely with other units within the ministry and actively cooperate with relevant agencies, organizations, and businesses to expand both traditional and modern distribution channels, actively strengthen and develop the domestic market, enhance exports, and diversify export markets through consistent and ongoing trade promotion initiatives. These efforts involve organizing regular trade connection conferences, online and offline exhibitions, and fostering connections between Vietnamese enterprises and foreign importers in key and potential export markets. This practical approach aims to help businesses overcome challenges, stimulate export growth, and maintain economic stability amidst the pandemic.

The “Connecting Trade between Suppliers in Southern Provinces with Exporting Enterprises and Trade Promotion Organizations” program in 2023 will focus on providing information and solutions that support businesses nationwide and those in the Southern provinces. The program aims to strengthen direct exports to foreign distribution networks and facilitate effective participation in global value chains.

In particular, with valuable information from localities and international organizations specializing in trade and investment promotion, the program is expected to play a role in assisting businesses to overcome recent challenges and discover solutions to enhance production and business activities in the future.

As part of the program, it is reported that an exhibition was held from July 12 to 16 at 23/9 Park in Pham Ngu Lao Ward, District 1. The Department of Trade Promotion, Ministry of Industry and Trade, collaborated with the departments of Industry and Trade from 18 provinces and cities in the Southern region to showcase and introduce outstanding products with export potential.

This program has garnered the involvement of more than 300 suppliers and manufacturing businesses to provide favorable conditions for these enterprises to directly showcase their products to domestic consumers and international tourists. By doing so, they can gain insights into consumer preferences, enabling them to develop production and business plans that align with market trends.

SGGP News