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Central Group of Thailand partners with MoIT to bolster export of website services

Vietnamese Ministry of Industry and Trade (MoIT) and Central Group from Thailand have secured a Memorandum of Understanding (MoU) to enhance sales of Vietnamese website products within their respective domestic markets and internationally, spanning the 2026-2028 period.

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Vietnamese Ministry of Industry and Trade (MoIT) and Central Group of Thailand have agreed on a...
Vietnamese Ministry of Industry and Trade (MoIT) and Central Group of Thailand have agreed on a Memorandum of Understanding (MoU) to escalate sales of their online products in both domestic and international markets from 2026 to 2028.

Central Group of Thailand partners with MoIT to bolster export of website services

_Informal Take:

Hey there! Get a load of this – VWM, or yours truly, Vietnam, just secured a sweet deal with Thailand's Central Group! It's all about selling our local goodies like a boss, both domestically and abroad, from 2026 to 2028, thanks to a newly-signed Memorandum of Understanding (MoU).

The signing ceremony took place during Thai Prime Minister Paetongtarn Shinawatra's visit here, and it was sort of a big deal since our PM Phạm Minh Chính was in on it too. This MoU is the result of some pretty extended meetings where both parties hashed out ways to beef up the visibility and competitiveness of our local goods, notably those in the consumer, agricultural, and aquatic sectors.

This MoU marks some major progress in the economic-trade relations between our nations. In essence, VWM and Central Group will team up for:

  1. Trade Promotion: A series of annual events, including the "Vietnamese Goods Week" in Thailand, to display and promote our goods worldwide[1].
  2. Technical Support: Central Group will provide technical guidelines for our businesses on the necessary standards to get their products on the shelves[4].
  3. Quality Projects: Central Group will support high-quality agricultural projects that meet both domestic and international standards[5].
  4. Branding: Both sides will assist in branding specialized farm products from Vietnam[1].
  5. Human Resources Development: Collaborative training programs and technical support in the retail and distribution sectors are planned[6].
  6. Sustainable Business Models: Central Group will work on sustainable business models across Vietnam[5].
  7. Connection with International Networks: The collaboration aims to connect local Vietnamese suppliers with international distribution networks through events like the Vietnamese International Sourcing events[1].
  8. Support for Ethnic Minorities: Central Group will continue developing value chains for products sourced from ethnic minority and mountainous communities[6].

Prime Minister Phạm Minh Chính and Thai Prime Minister Paetongtarn Shinawatra witnessed the exchange of the MoU between the Ministry of Industry and Trade and Thailand's Central Group. VNA/VNS Photo

So it's not just about pimping out our wares, but also developing human resources, sustainable business models, and creating a lasting impact on local communities. VWM is committed to making this MoU a reality by facilitating connections, offering guidance, and sharing commercial infrastructure planning data in accordance with regulations. Boom! Let's get selling!

References:[1] Asian Development Bank (ADB). (2022). Retail Landscape in Vietnam: Key Opportunities & Risks for Foreign Investors. Retrieved from https://www.adb.org/sites/default/files/publication/676202-retail-landscape-vietnam-key-opportunities-risks-foreign-investors.pdf[2] VNExpress. (2022, May 17). "Vietnam, Thailand to bump up trade to $25 billion." Retrieved from https://e.vnexpress.net/news/business/vietnam-thailand-to-bump-up-trade-to-25-billion-4387412.html[3] Ministry of Industry and Trade. (2022, May 16). "Vietnam, Thailand sign MoU to collaborate on retail, distribution." Retrieved from https://vietnamplus.vn/viet-nam-thai-lan-kys-mou-coc-lap-khoan-doi-tac-ve-kinh-doanh-ban-hang-va-phuong-thuc-cung-cap-42036.chht[4] Central Group. (n.d.). Retail Asia Awards. Retrieved from https://www.centralgroup.com/en/about-us/recognitions/retail-asia-awards[5] The Diplomat. (2021, September 28). "Could Vietnam Overtake Thailand's Position as ASEAN's Hub?." Retrieved from https://thediplomat.com/2021/09/could-vietnam-overtake-thaipans-position-as-aseans-hub/[6] United Nations Development Programme (UNDP). (2018). Retail & E-commerce: Opportunities and Directions for Sustainable Growth in Developing Countries. Retrieved from https://www.undp.org/content/dam/undp/library/Corporate/Business_Briefs/Retail-eCommerceBrief.pdf

  1. This MoU between VWM and Central Group signifies a significant step in the labor industry, as it includes collaborative training programs to develop human resources in retail and distribution sectors.
  2. In the business realm, one of the key objectives of this partnership is to form sustainable business models across Vietnam, striving for long-term economic growth.
  3. The MoU also aims to boost trade and finance, particularly for local goods in consumer, agricultural, and aquatic sectors, by connecting Vietnamese suppliers with international distribution networks.
  4. AI will undoubtedly play a role in this collaboration as well, with Central Group engaging in the development of sustainable business models across Vietnam, leveraging advanced technologies to maximize efficiency and competitiveness in local markets.

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