Nearly 300 delegations in search of Vietnamese agro-product sources

On May 25, the Ho Chi Minh City Export Forum and Trade Fair 2023 with the theme "Strong Association - Green Export" was held for the first time at the Saigon Exhibition and Convention Centre (SECC).

Speaking at the opening of the event, Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan said, “In recent years, in the context of many global risks, instability, unpredictable event, global trade decline, and the Covid-19 pandemic, the world economy is struck with great forces, resulting in certain impacts on Vietnam’s economic situation as well as import and export activities of Vietnamese goods”.

In the first 4 months of 2023, the total export and import turnover of Vietnam only reached an estimated USD 211 billion, down 13.6% over the same period last year. Export decreased by 11.8%, import decreased by 15.4%.

Particularly in Ho Chi Minh City, the export of goods in the first 4 months of 2023 decreased by 21.1% over the same period, revealing a direct impact on the recovery and socio-economic development of this city.

According to Vice Chairman Hoan, this is the first time Ho Chi Minh City holds the HCMC Export Forum and Trade Fair with the aim of creating favorable conditions for businesses to meet face-to-face and find potential partners, importers, and buyers. This is also an opportunity for businesses and manufacturers to promote domestically-produced items and brands to international markets.

“HCMC Trade Fair 2023 is an opportunity for domestic enterprises to learn, compete, and approach the world's demands and trends, thereby developing the right investment orientation, improving prestige, enhancing factory quality, innovating technology, machinery and equipment, and producing quality products to serve the needs of consumers worldwide,” said the Vice Chairman.

Mr. Do Thang Hai, Deputy Minister of Industry and Trade, said, “The world economy continues to face many difficulties and challenges at present. In the context that global supply chains are still adjusting and rearranging, many countries strengthen protectionist policies, trade barriers which require us to regularly update information and forecast the situation as a basis for short-term adjustment as well as long-term solutions for production and export”.

Regarding Vietnam’s economy, opportunities - advantages and difficulties - challenges are intertwined. Inflation pressure, exchange rate, interest rate increase, production and business continue to face many challenges. Vietnam's traditional and important import and export markets are shrinking, which requires businesses to change production and business methods, diversify forms of trade promotion in line with major transformation trends in the world such as digital transformation, green transformation, technology transformation.

“HCMC Trade Fair 2023 is an important trade promotion activity, a bridge to help create and maintain sustainable cooperative relationships between domestic and international businesses, an exchange forum that brings opportunities to share, trade, cooperate and invest," said Deputy Minister Do Thang Hai.

The fair has 250 booths of more than 200 domestic enterprises, displaying items with a total turnover of over USD 1 billion such as wood and wood products, food and foodstuffs, rubber, plastic, electronics, mechanics, textiles, leather shoes, etc.

According to the Organizing Committee of HCMC Trade Fair 2023, so far, more than 3,000 visitors have registered to participate in the series of events, including 273 delegations and promotion businesses from 70 countries and territories such as the USA, Korea, Taiwan, India, Malaysia, Thailand, Singapore, Pakistan, as well as EU countries.

"This is definitely a good sign which reflects the world demand. The export market still has much room for development. There are still many opportunities for domestic manufacturers to expand the market. But apart from the opportunities, there are also ample challenges that businesses need to research and pay attention to in the process of creating export products as they must suit the specific characteristics of culture, religion, ethnicity, as well as the specific regulations of each country,” said Vice Chairman Hoan.