Domestic businesses eye rural retail market

Domestic businesses are seeking to develop the rural retail market given fierce competition from foreign rivals, according to Cong Thuong (Industry & Trade) newspaper.
Domestic businesses eye rural retail market ảnh 1Vinmart supermarket (Photo: VNA)
Hanoi (VNA) – Domestic businesses are seeking to develop the rural retail marketgiven fierce competition from foreign rivals, according to Cong Thuong(Industry & Trade) newspaper.

Vietnam waslisted among the world’s 30 most attractive retail markets by the US’s ATKearney Company.

Statisticsfrom the Ministry of Industry and Trade showed that foreign-invested companies makeup about 17 percent of retail market share via trade centres and supermarketsand 70 percent via convenience stores.

President ofthe Vietnam Retailers Association Dinh Thi My Loan said the Vietnamese retailmarket has become more attractive since the country signed free tradeagreements.

Policies attracting customers and increasingcompetitiveness have been implemented, she added.

Some foreign firms have increased theirengagement in the race to dominate retail in Vietnam.

For example, Aeon – a Japanese retail giant, hasopened four trade centres in Vietnam and plans to increase this number to 20 by2020.

Japan’s 7-Elevenconvenience store chain also announced plans for stores in Ho Chi Minh Citylast February.

Other overseas groups such as Lotte of theRepublic of Korea and Central Group of Thailand have expanded their marketshare in Vietnam and plan to double and triple their number of stores in theupcoming years.

Therefore, the expansion of goods distributionin rural areas is considered a way for domestic companies to increasecompetitiveness.

Director of the Business Studies and AssistanceCentre Vu Kim Hanh said rural areas have high potential.

If domesticcompanies don’t seize the chance to dominate this segment, foreign retailerswill make use of it, she added.

Vo Van Quyen, head of the Domestic MarketDepartment under the Ministry of Industry and Trade, said the golden populationstructure and increasing local income are attractive factors of the ruralmarket.

Average purchasing power in rural areas has grown15 percent in recent years, he said, adding that Vietnamese retailers could securethe rural market by selling products at reasonable prices.

To dominatethis market, Vingroup plans to open an additional 70-80 supermarkets and 1,500stores in remote districts.

Meanwhile, the Saigon Union of TradingCo-operatives (Saigon Co.op) has built a strategy to make inroads into therural market via selling essential commodities at supermarkets and conveniencestores.-VNA








VNA

See more

An overview of the meeting (Photo: VNA)

Binh Duong works to remove obstacles facing major FDI firms

Authorities of the southern industrial hub of Binh Duong held a meeting with two major foreign direct investment (FDI) enterprises operating in the province to address challenges facing the firms in production and business operations while encouraging their further expansion.

Real estate investors eye industrial zones with strong transport infrastructure. Illustrative image (Photo:VNA)

Real estate rises with infrastructure boom

According to Savills Vietnam, a more favourable real estate investment environment is expected in 2025 as cyclical challenges subside and the market continues its recovery.

At the February 14 meeting between Lao Prime Minister Sonexay Siphandone and a delegation of Vietnamese businesses and international enterprises from various countries. (Photo: VNA)

Vietnam strengthens business and investment ties in Laos

Highlighting Laos's vast potential for trade and investment cooperation, Lao Prime Minister Sonexay Siphandone said that Laos is an attractive investment destination, particularly in agriculture, tourism, logistics, and infrastructure development.

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.