Experts and heads of leading local and international companies discussed the business outlook and strategies for development in a volatile business environment at a forum in HCM City.
Experts have urged Vietnamese retailers to enhance the quality of their
retail services, considered a decisive factor to ensure any business''
success at a time when the country is moving towards rapid integration
with regional and global economy and anticipates increasing competition.
Vietnamese retailers are facing fierce competition from several new
foreign players in the market, who also have strong financial potential
and experience.
With the growing number of smartphone users in Viet Nam in the digital
era, e-commerce is fast becoming a new shopping trend that domestic
retailers can use to their advantage.
The removal of the cap on the tax deductibility of
advertising will help Vietnamese businesses integrate into the world
economy, attract foreign investment and effectively compete in other
markets.
Vietnamese retailers risk losing the domestic market, which will soon be
dominated by foreign ones, the Lao dong (The Labour) newspaper reported
on Wednesday.