With their limitations in terms of capital, management, technologies and brand building, Vietnamese small and medium-sized enterprises need support to stay afloat amid the country’s global integration, according to the Viet Nam Retailers Association.
Local retailers do not require preferential treatment, only a level
playing field, they told a seminar on retail market development
organised by the Viet Nam Retailers Association in Ha Noi on Friday.
Domestic retailers should have specific development strategies to
compete with foreign investors whose modern retail are channeled with
high turnover, announced Vu Vinh Phu, chairman of Ha Noi Supermarkets
Association.
Despite the economic slowdown, four out of seven sectors in Viet Nam''s
technical consumer goods market generated double-digit sales growth in
the fourth quarter of last year.
The domestic retail sector expects to increase its contribution to the
Gross Domestic Product (GDP) from the current 14 per cent to 23 per cent
in 2014.