Promoting sustainable business through supplier diversity and gender-responsive procurement
WVR - On June 20, in a significant push towards sustainable business practices, nearly 100 representatives from various departments, embassies, international organizations, business associations, and enterprises convened in Ho Chi Minh City for the Business networking Workshop.
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| Ms. Caroline Nyamayamombe, UN Women Representative in Vietnam, at the event. (Source: UN Women) |
Themed "Supplier diversity and gender-responsive procurement", the event focused on advancing inclusivity and responsibility in business procurement processes.
Organized by the Vietnam women entrepreneurs council under the Vietnam chamber of commerce and industry (VCCI) and the United Nations entity for gender equality and the empowerment of women (UN Women), the workshop is a key part of the "Creating equal market opportunities for women and women-owned enterprises through gender-responsive procurement" (WE RISE Together) program. This initiative is supported by the Australian Government through the Mekong-Australia Partnership.
The global procurement market, valued at trillions of dollars, involves the exchange of goods and services among various organizations, both public and private. Despite women owning approximately 33% of all businesses worldwide, women-owned enterprises receive a meager 1% of public and private procurement spending.
In Vietnam, the statistics reveal a similar disparity: over 20% of small and medium-sized enterprises (SMEs) are owned by women, and 51% of businesses include women in their ownership structure. However, these women-owned businesses often occupy the lower tiers of supply chains across many industries, struggling to meet the procurement standards of larger companies.
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| The workshop aimed to address these challenges by providing practical solutions to support women-owned SMEs in accessing large and potential buyers. (Source: UN Women) |
The workshop aimed to address these challenges by providing practical solutions to support women-owned SMEs in accessing large and potential buyers. Through Dialogue Sessions and Business Networking Sessions, participants explored ways to bridge this gap.
The Dialogue Session was particularly praised for its practical approach and the tangible results achieved by businesses involved in the WE RISE Together program. Over the past two years, women-owned businesses in the program have received training to enhance their capabilities in areas such as financial management, sales, marketing, product differentiation, and branding. These businesses have also benefited from regular connections with purchasing companies. Meanwhile, purchasing companies have been updated on trends in sustainable business development, gender equality, environmental, social, and governance (ESG) criteria, thereby boosting their competitiveness through gender-responsive procurement.
The Business Networking Session featured dynamic interactions between 30 potential purchasing companies and 50 women-owned businesses from four sectors: Tourism Services, Retail and Consumer Goods, Food & Beverage, and Souvenirs & Gifts. This session provided women-owned SMEs with a platform to showcase their products, improve their competitiveness, and connect with potential buyers, thereby expanding market opportunities in retail and tourism services. It also aimed to promote the implementation of Supplier Diversity and Gender-Responsive Procurement policies.
In a significant move towards gender equality, 10 Vietnamese businesses signed the Women's Empowerment Principles (WEPs) during the event, underscoring their commitment to promoting gender equality in the workplace, market, and community.
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| In Vietnam, the statistics reveal a similar disparity: over 20% of small and medium-sized enterprises (SMEs) are owned by women, and 51% of businesses include women in their ownership structure. (Source: UN Women) |
