MoIT, Central Retail Boost Cooperation to Promote Vietnamese Goods Globally

The Ministry of Industry and Trade (MoIT) and Thai retail giant Central Retail Corporation (CRC) are stepping up cooperation to promote Vietnamese goods globally. This collaboration aims to accelerate the international expansion of Vietnamese products and boost export growth. Central Retail has received an investment registration certificate to develop a US$18.2 million mall under its GO! brand in Vietnam's northern province of Hung Yen. The company plans to invest over 45 billion THB (US$1.38 billion) through 2027 to expand its mainstream markets and accelerate growth across Southeast Asia, with Vietnam being a key focus. This enhanced cooperation with a major retailer aligns with the Vietnamese government's strategy to strengthen export growth amidst persistent global commercial uncertainty. Measures include expanding overseas markets through economic diplomacy, maximizing FTA benefits, streamlining administrative procedures, reducing logistics costs, improving access to credit, and helping businesses overcome trade barriers. Authorities are also encouraging deeper processing, official cross-border exports, and greater market diversification to enhance the competitiveness of Vietnamese products. Vietnam's continued selection as a sourcing destination by global buyers reflects its growing position in international supply chains. However, future growth cannot solely rely on expanding production capacity. Meeting this year's export target of US$48 billion will require greater productivity, higher value addition, stronger domestic sourcing, broader market diversification, and faster digital and green transformation. Furthermore, Vietnamese businesses are accelerating the adoption of circular economy practices to improve competitiveness, reduce emissions, and meet increasingly stringent sustainability standards. Experts emphasize the need for Vietnamese exporters to strengthen their capacity to meet international standards and optimize logistics and distribution networks to safeguard their position in markets like the Middle East.