Hanoi (VNA) – Hanoi authorities have been working hard to make more Vietnameseproducts present in foreign-invested supermarket chains in Vietnam, seeing itas an efficient channel for the products to reach the global market.
Vietnam’s retail market has seen the participation of big foreign names likeThailand’s Central Group and Japanese AEON, Takashimaya, 7-Eleven and FujiMart,however, the number of Vietnamese products sold at all these supermarkets stillremain modest.
One out of ten Vietnamese suppliers have their goods showcased at the foreignsupermarkets’ shelves due to the heat of pricing pressure and high discountrate requested by the distributors, retail sale expert Vu Vinh Phu said.
According to Vice Director of the Hanoi Investment, Trade and Tourism PromotionCentre Nguyen Thi Mai Anh, many Vietnamese firms fail to provide goods that fitquality requirements of the distributors.
Describing capital limitations as one of the main challenges for Vietnamesebusinesses, Anh said that even those who satisfy requests of the modern retailsystem, they are likely to lose right in their home playground.
“Foreign retailers prefer the “sell-now, pay-later” norm of trade, and domesticsuppliers have to wait three or four weeks or even more than three months toget revenue,” she added.
She said that local firms should study consumers’ taste and market’s change aswell. They should invest heavily in advanced technologies to save costs, and paymore attention to product design as well as food safety and hygiene.
As part of efforts to bolster export to foreign distribution channels, theMinistry of Industry and Trade is implementing the “Developing DirectParticipation of Vietnamese Enterprises on Foreign Distribution System up to2020” programme, in which training courses to improve competitive capacity ofthe local firms will be held.-VNA
VNA