President Luong Cuong receives Chairman of Costco Group

According to VNA special correspondent, on the morning of September 21 local time (night of September 21 Hanoi time), within the framework of bilateral activities in Seattle, President Luong Cuong received Chairman and CEO of Costco Group Ron Vachris.

President Luong Cuong receives Mr. Ron Vachris, Chairman and CEO of Costco Group. Photo: Lam Khanh/VNA

At the meeting, Chairman and CEO Ron Vachris shared that Costco is one of the largest retail groups in the United States, operating more than 870 supermarkets worldwide, so it pays great attention to diversifying its sources of goods and expanding its international supply network. Mr. Ron Vachris expressed his desire to continue to cooperate closely with key Vietnamese suppliers to bring products suitable to the market, thereby maintaining long-term cooperation with Vietnamese partners. It is estimated that the import value of Vietnamese goods in Costco's supply chain can reach over 1 billion USD per year with key items such as textiles, footwear, wooden furniture, seafood, cashew nuts and coffee, etc.

To continue promoting development and diversifying the supply chain, Mr. Ron Vachris emphasized that Costco is interested in building a strategic cooperation framework to develop production and supply capacity; is willing to share experiences and lead in applying ESG standards (environment - society - corporate governance).

President Luong Cuong highly appreciated the business results as well as the need to increase the purchase of Vietnam's export goods to put into Costco's distribution system. The President emphasized that Costco's initiative in building a strategic cooperation framework to develop production capacity and supply chain is an orientation in line with Vietnam's strategic priority in participating more deeply in the global value chain, especially for industries with strengths such as agricultural products, seafood, textiles, footwear and light industry.

President Luong Cuong receives Mr. Ron Vachris, Chairman and CEO of Costco Group. Photo: Lam Khanh/VNA

Welcoming Costco's pioneering role in promoting ESG standards, in line with Vietnam's sustainable development orientation, the President said Vietnam is ready to cooperate in transferring green technology, supporting Vietnamese enterprises to improve production processes, reduce emissions and use renewable energy; and enhance the competitiveness of goods.

The President emphasized that with a population of nearly 100 million and constantly expanding consumer demand, Vietnam will be a destination with great potential; at the same time, he welcomed Costco's proposal to officially establish a presence and make long-term investment in Vietnam.

Stating that Vietnam is steadfast in its policy of deep integration and building an open, transparent and sustainable economy , the President said that Vietnam is committed to accompanying and facilitating Costco in implementing investment forms - from purchasing centers, warehouse systems, logistics to the ability to build regional distribution centers.

Source: https://baotintuc.vn/thoi-su/chu-tich-nuoc-luong-cuong-tiep-chu-tich-tap-doan-costco-20250922061836673.htm