Vietnam remains one of the important corporate retail markets and can compete against other countries in the region during the next three years, according to a seminar in Ho Chi Minh City .

The Oct. 19 seminar on the current situation and future directions of Vietnam ’s retail sector in 2015 said that the development of the country’s retail system was being facilitated by the expansion of joint ventures between domestic and foreign businesses.

However, a recent survey revealed that the market share of Vietnam ’s corporate retail system remained smaller than that of other countries in the Asia-Pacific region and was not yet developed as strongly as Japanese, Indian and Indonesian markets.

The seminar also pointed out many challenges faced by the country’s retail market in maintaining stable growth in the remaining months of the year and in 2012.

Experts said promotions and discounts were effective measures for retailers to attract customers and increase their turnover.

Representatives from the Metro Cash and Carry chain emphasised the need for businesses to overcome challenges in the management of food hygiene safety and food supply as well as put forward solutions to assist farmers’ production activities.

At present, Vietnam has almost 1,000 supermarkets./.