Legal corridor needed to develop a fast, sustainable modern retail system
(VOVWORLD) - Vietnam's retail system is facing great opportunities and challenges as the nation integrates into the global economy, according to participants at a forum in Hanoi on Wednesday on policies and laws for trade development in 2024.
 Forum on policies and laws for domestic trade development in 2024 in Hanoi on December 4, 2024 (Photo: VOV) |
They stressed the importance of creating a legal corridor that will encourage retail businesses to develop and encourage investment in modern retail models like e-commerce, smart supply chains, and retail operations technology.
Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Research, said that as the retail system is competitive, dynamic, and market-oriented, it’s necessary to take into account the cost of conversion to become more competitive and reduce the negative impact of the conversion process.
“The conversion process requires policies on training and dispute resolution, so the State must play a key role in this process,” Thanh noted.
The annual forum promotes effective implementation of the Prime Minister's decision on a strategy for domestic trade development until 2030 with a vision to 2045.