Illustrative image (Source: VNA) With a market value of 110 billion USD by 2016 which isexpected to soar to 180 billion USD by 2020, Vietnam is considered one of the30 most attractive retail markets worldwide. Well-known retail chains such asJapan’s Aeon, the Republic of Korea’s Lotte and Thailand’s Central Group arenot unfamiliar to consumers in major urban areas.
Statistics from the Ministry of Industry and Trade’sDomestic Market Department showed that retail sales in foreign-invested sector was7-8 times higher than those in domestic one.
In order to improve domestic retailers’ competitiveness, Hanoihas offered preferential loans and courses on improving governance skills andadopting advanced technologies.
Deputy Director of the municipal Department of Industry andTrade Tran Thi Phuong Lan said the city is striving to accelerate the progressof building shopping malls and supermarkets, working closely with departments,agencies and authorities of communes and districts to step up investmentattraction, and develop logistics services, mostly in Soc Son and Phu Xuyendistricts.
The department will continue with bank-business communityprogramme to facilitate firms’ access to preferential loans, and offeringcorporate training courses to improve management, sales and brand developmentskills.-VNA
VNA
