Local retailers do not require preferential treatment, only a level playing field, they told a seminar on retail market development organised by the Vietnam Retailers Association in Hanoi on October 3.
The chairwoman of the association, Dinh Thi My Loan, said Germany's Metro entered Vietnam as a wholesaler but its 19 outlets operate as retailers.
Local retailers face difficulties in competing with these "wholesale giants," she said.
Local retailers do not require protection only equal and transparent policies, Tuoi Tre Online quoted her as saying.
Nguyen Tien Vuong, Deputy General Director of Hanoi Trading Corp (Hapro), said many foreign investors want to establish joint ventures with his company, but always on the condition that they would hold a 51 percent stake.
They were rejected because "we do not like the Hapro brand name to be changed into a foreign name," he said.
Many Vietnamese retailers like Saigon Co.op, Phu Thai, HC, and Nguyen Kim have proved highly successful.
But they face intense competition from foreign giants like E-Mart, Big C, Lotte, and Lock & Lock who have entered the local market over the past several years.
Tran Nguyen Nam, Deputy Head of the Ministry of Industry and Trade's Domestic Market Department, said the Vietnamese retail market is worth 125 billion USD a year.
Pham Dinh Doan, Chairman of Phu Thai Group, said a number of large foreign wholesalers in Vietnam are seeking to expand their operations.
Japan's Aeon Group has a large mall in HCM City and plans to opens another big one in Hanoi next year, he said.
An investment of 100,000 USD is required to open a 24-hour shop, but to be profitable 300 outlets need to be set up, he said.
To succeed, local retailers should seek to set up joint ventures with foreign partners, he added.-VNA
The chairwoman of the association, Dinh Thi My Loan, said Germany's Metro entered Vietnam as a wholesaler but its 19 outlets operate as retailers.
Local retailers face difficulties in competing with these "wholesale giants," she said.
Local retailers do not require protection only equal and transparent policies, Tuoi Tre Online quoted her as saying.
Nguyen Tien Vuong, Deputy General Director of Hanoi Trading Corp (Hapro), said many foreign investors want to establish joint ventures with his company, but always on the condition that they would hold a 51 percent stake.
They were rejected because "we do not like the Hapro brand name to be changed into a foreign name," he said.
Many Vietnamese retailers like Saigon Co.op, Phu Thai, HC, and Nguyen Kim have proved highly successful.
But they face intense competition from foreign giants like E-Mart, Big C, Lotte, and Lock & Lock who have entered the local market over the past several years.
Tran Nguyen Nam, Deputy Head of the Ministry of Industry and Trade's Domestic Market Department, said the Vietnamese retail market is worth 125 billion USD a year.
Pham Dinh Doan, Chairman of Phu Thai Group, said a number of large foreign wholesalers in Vietnam are seeking to expand their operations.
Japan's Aeon Group has a large mall in HCM City and plans to opens another big one in Hanoi next year, he said.
An investment of 100,000 USD is required to open a 24-hour shop, but to be profitable 300 outlets need to be set up, he said.
To succeed, local retailers should seek to set up joint ventures with foreign partners, he added.-VNA
