Vietnam listed among top six retail markets with most foreign investment

Vietnam has been ranked among the world’s top sixth retail markets that attract the largest sum of foreign investment and named in the top 30 most lucrative retail markets this year, said Hoang Anh Tuan, deputy head of the Ministry of Industry and Trade’s Domestic Market Department.

Tuan made the remarks at the Vietnam Retail Forum 2017 in Hanoi on Tuesday, adding that giant retailers from Japan, Thailand, and France have recently boosted their investments in Vietnam, creating huge challenges for domestic enterprises.

Dinh Thi My Loan, chairwoman of the Association of Vietnam Retailers, said: Vietnam’s retail sector should promote its growth through innovation and competitiveness. But a clear strategy is needed to survive in the current market. Vietnam needs to apply technology to retail distribution and help domestic retailers bring Vietnamese goods to regional markets. The sector needs to accelerate to meet the 2020 target set by the government of gaining a 40% market share. Currently the sector has less than 30%.

Source: VOV5