Vietnam’s retail market in integration process
(VOVworld)- On Wednesday, the Vietnam Chamber of Commerce and Industry organized a workshop to discuss policies for retailers in the integration context of the Trans-Pacific Partnership and the EU-Vietnam Free Trade Agreement.
Photo: cafef.vn |
The President of the Vietnam Retail Association Dinh Thi My Loan said the Vietnamese retail market remains attractive though not as exciting as in previous years. Under commitments to TPP and EVFTA, tariffs will be gradually reduced, of which 65% will go to 0% when the two agreements take effect. As a result, supply sources will be diverse, potentially stimulating retail activities and benefiting consumers.
There are approximately 9,000 traditional markets, 830 supermarkets, and 150 trade centers in Vietnam. Vietnam’s retail market has been entered by both foreign and domestic investors. Foreign investors have more advantages in regard to capital and management technology posing a challenge for Vietnamese investors.