Large retail firms are to gain even more market share this year as smaller competitors have been forced to exit the game after prolonged lockdowns and mobility restrictions during recent years, said industry experts.
HCM City plans to focus on the four key areas of exports, logistics, exhibitions and fairs, and wholesale and retail activities, according to Nguyen Huynh Trang, deputy director of the Department of Industry and Trade.
Telecommunications, IT and retail firms took the lead in terms of profitability last year on the list of Profit500 – the top 500 firms with the highest profits in Viet Nam.
Deputy Prime Minister Trinh Dinh Dung has asked relevant ministries and authorities to raise measures to promote the development of local retailers while better managing the operation of foreign retail firms.
The pressure from growing foreign investments into the Vietnamese
retail sector is forcing local retailers to improve their
competitiveness in order to take on foreign rivals, a conference heard
yesterday.
