Hanoi promoting supply-demand connectivity

Exhibiting essential and strong goods of 50 provinces and cities on the sidelines of the November 3 trade exchange seminar

Opportunities for consumers and business

According to the Hanoi Department of Industry and Trade, the 10 million residents of the greater Hanoi area have high demand for farm produce, which is expected to increase 5-20 percent during the 2018 solar and Lunar New Year holidays. Hanoi enterprises are capable of meeting only 60 percent of the demand so the city is promoting supply-demand connectivity with other provinces to better satisfy its consumers’ demand.

Since early this year, the department has worked with authorities of Bac Giang, Hung Yen and Son La provinces to hold trade fairs and exhibitions, providing opportunities for businesses from those provinces to introduce and sell their products. A seminar on trade exchange between Hanoi and other provinces and cities took place on November 3 within the framework of Hanoi’s 2017 Vietnamese goods fair, through which 27 distributors and supermarkets in Hanoi signed with 80 producers from 25 provinces memorandums of understanding on product sales.

Nguyen Doan Toan, Deputy Chairman of the Hanoi People's Committee, said at the seminar that supply-demand connectivity and trade exchange have helped businesses take the initiative in production output and sales control, ensure market stability, and prepare production plans, including plans for safe product development.

More efficient supply-demand connectivity

Trade promotion and supply-demand connectivity activities between Hanoi and other provinces and cities have contributed to promoting production and sales and better satisfying the Hanoi market demand.

However, Toan said connectivity between producers and distributors needs to be regular, while the promotion of localities’ potential, strong products and market information remains poor.

Deputy Minister of Industry and Trade, Do Thang Hai, suggested that provincial and city people's committees continue to closely work with the Ministry of Industry and Trade in implementing the Buy Vietnamese Goods campaign. A goal is for all cities to hold supply-demand connectivity meetings for related businesses and organization by 2020. Localities need to realize specific solutions to achieve this target. Producers should attach importance to improving product quality and design, while distributors should have preferential policies for domestic goods and measures to assist producers to create standard products, Hai said.