Vietnam urged to tap young overseas Vietnamese for global trade growth

Supportive government policies are imperative to encourage young overseas Vietnamese entrepreneurs to join the Vietnamese product development ecosystem.

This recommendation came from Nguyen Hong Hue, President of the Business Association of Overseas Vietnamese. He urged organizing global startup competitions for young diaspora members focused on producing and trading Vietnamese goods to increase exports through overseas Vietnamese enterprises.

"These activities would boost exports of Vietnamese goods to high-end markets, such as Europe, the United States, and Japan, and help foster patriotism among younger generations of overseas Vietnamese," he emphasized.

Local insiders have recognized the overseas Vietnamese business community's role in promoting Vietnamese exports, noting their growing influence in raising the profile of Vietnamese goods and distributing them internationally via diaspora-owned retail networks.

Vo Van Nam, Deputy General Director of Tamda Group in the Czech Republic, hopes the government will soon focus on training second- and third-generation overseas Vietnamese by offering them internships with domestic companies. These programs would help younger diaspora members better understand Vietnam’s export promotion policies.

Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy, recommended that the authorities increase their efforts to promote trade in areas where large Vietnamese communities abroad originated. "Increasing awareness among residents about Vietnamese products can strengthen demand for these goods in key markets."

Thanh recommended Vietnam’s trade agencies facilitate partnerships between reputable exporters and the diaspora business community. He also urged the government to accelerate negotiations of more bilateral and multilateral trade agreements to help Vietnamese companies overcome technical barriers and protectionist policies. This would enable them to expand their legal export channels into new markets.

To highlight local efforts in support of these national goals, Nguyen Kieu Oanh, Deputy Director of the Hanoi Department of Industry and Trade, said that the “Vietnamese People Prioritize Using Vietnamese Goods” campaign will increase its outreach to the overseas Vietnamese community to encourage the Vietnamese diaspora to promote Vietnamese products, particularly in key markets such as the US, Russia, Eastern Europe, Japan, and South Korea.

"Hanoi will strengthen its engagement with overseas Vietnamese businesses so they can serve as direct importers or intermediaries, bringing Vietnamese products, including those produced in Hanoi, into local retail systems in foreign markets," said Oanh.

Key bridge

According to the State Committee for Overseas Vietnamese Affairs under the Ministry of Foreign Affairs, notable progress has been made after five years of implementing Project 197, which aims to mobilize overseas Vietnamese to promote and purchase Vietnamese products, as well as develop distribution channels for Vietnamese goods abroad.

Enterprises from the Vietnamese diaspora have successfully introduced fresh lychees, Cat Chu mangoes, and bananas to the European market, especially exported fresh whole durian to the EU, competing directly with established suppliers from Thailand and Malaysia.

Nguyen Thanh Tan, General Director of Mekong Corporation Europe (MCE), said the company signed an agreement with Dong Thap Province in 2022 to export mangoes to 24 European countries. Since 2021, Thanh Hung, a supermarket chain in the Netherlands, has distributed fresh lychees in the Dutch market.

Meanwhile, Hoang Dinh Toan, Chairman of the Czech Republic's Tamda Foods Group, noted that the number of Vietnamese products sold through the group's retail network has doubled or tripled since Project 197 was set in motion. This has allowed Vietnamese goods to reach over 10,000 retail stores operated by Vietnamese communities throughout the Czech Republic and Slovakia.

"We look forward to continuing our partnerships with domestic enterprises to bring Vietnamese products to European consumers. We act as a bridge between local producers and European retailers," Toan said.

The State Committee for Overseas Vietnamese Affairs noted that with growing diaspora support, Vietnamese products are being sold through overseas Vietnamese retail networks and are making their way onto the shelves of mainstream local supermarkets and major e-commerce platforms. This expansion has allowed Vietnamese brands, such as Trung Nguyen coffee and Vifon pho (instant rice noodles), as well as a variety of other processed foods, to break into the global market.