The Vietnamese Government was considering a project to build a wholesaleagricultural market worth billions of US dollars, said an official ofthe Korea Chamber of Commerce and Industry (Korcham Vietnam).
Accordingto Hong Sun, Secretary-General of Korcham in Vietnam, farm productswere the key exports of Vietnam, but their distribution faced manydifficulties, including the lack of wholesale markets to have auctionsand distribute products everywhere, Bizlive newspaper online reported.
Thedisadvantage would create a barrier for Vietnamese enterprises to gainfrom the Vietnam-Republic of Korea free trade agreement and increaseVietnam's exports of farm products, he said.
Therefore, Korchamhad proposed to build a wholesale market for farm products on an area of300ha in Hanoi, six times larger than the similar market in Seoul, henoted.
Vietnam needed a modern distribution system to improve thecompetitive ability of its local farm products because the cost ofdistribution of Vietnamese farm products at present accounted for 20percent of the cost of trading, 10 percent higher than other countries,he pointed out.
The key structure of the market would beconstructed in 2-3 years, on a total investment of 300-400 million USD,he said, adding that the construction of the entire market needed 1-2billion USD.
Hong Sun noted that the investment will come from foreign investors, including major capital from the Republic of Korea.
Themarket would have wholesale and retail sections and its operation wouldbe supported by modern information technology system to ensure fairauctions, he added.
Korcham is currently looking for space for the market in Hanoi as it needs a large area.
Themarket would gather farm products to be exported to the Republic ofKorea and, may be, to some other neighbouring markets such as Hong Kong,Singapore, and Japan, he said.
During the initial period,Korcham might employ experts with experience from the Republic of Koreaor other countries to support Vietnam in developing the market becausethe management of the market would be based on a modern software system,he added.-VNA
Accordingto Hong Sun, Secretary-General of Korcham in Vietnam, farm productswere the key exports of Vietnam, but their distribution faced manydifficulties, including the lack of wholesale markets to have auctionsand distribute products everywhere, Bizlive newspaper online reported.
Thedisadvantage would create a barrier for Vietnamese enterprises to gainfrom the Vietnam-Republic of Korea free trade agreement and increaseVietnam's exports of farm products, he said.
Therefore, Korchamhad proposed to build a wholesale market for farm products on an area of300ha in Hanoi, six times larger than the similar market in Seoul, henoted.
Vietnam needed a modern distribution system to improve thecompetitive ability of its local farm products because the cost ofdistribution of Vietnamese farm products at present accounted for 20percent of the cost of trading, 10 percent higher than other countries,he pointed out.
The key structure of the market would beconstructed in 2-3 years, on a total investment of 300-400 million USD,he said, adding that the construction of the entire market needed 1-2billion USD.
Hong Sun noted that the investment will come from foreign investors, including major capital from the Republic of Korea.
Themarket would have wholesale and retail sections and its operation wouldbe supported by modern information technology system to ensure fairauctions, he added.
Korcham is currently looking for space for the market in Hanoi as it needs a large area.
Themarket would gather farm products to be exported to the Republic ofKorea and, may be, to some other neighbouring markets such as Hong Kong,Singapore, and Japan, he said.
During the initial period,Korcham might employ experts with experience from the Republic of Koreaor other countries to support Vietnam in developing the market becausethe management of the market would be based on a modern software system,he added.-VNA
