AmCham Vietnam’s HCM City office and the American Apparel and Footwear Association on November 15 organised a seminar on product safety and compliance for supply-chain-related companies.

Product safety, responsible sourcing, compliance, and transparency are the backbone of successful and respected supply chains, experts told the seminar.

Dr Monica Gorman, vice president of global compliance, New Balance Athletics Inc., shared her company’s experience in building a culture of compliance, creating strong partnerships between buyers and suppliers and having zero tolerance for corruption and lack of transparency.

Compliance is the right thing to do and helps reduce risks, she said.

Speakers at the seminar also focused on utilising a restricted substances list for AAFA’s supply chain, chemical compliance in the European and the US markets and social compliance requirements to drive profitability.

Viet Nam is now a leading global supplier of apparel and footwear. This year it has accounted for 25 per cent of the US’s imports from ASEAN members and could achieve a one-third share by 2020.

The seminar heard that Viet Nam would benefit by joining global supply chains and reforming customs procedures to meet commitments under its FTAs, thus enabling companies to reduce costs, stay competitive and crack new markets. — VNS