Business

Seminar helps boost retail market

The Ministry of Industry and Trade and the Multilateral Trade Assistance Project III (EU-Vietnam MUTRAP III) co-organised a seminar on good trading activities by foreign-invested businesses in Vietnam in Hanoi on August 24.
The Ministry of Industry and Trade and the Multilateral Trade AssistanceProject III (EU-Vietnam MUTRAP III) co-organised a seminar on goodtrading activities by foreign-invested businesses in Vietnam inHanoi on August 24.

According to experts,Vietnam ’s distribution network is mainly through traditional retailchannels. Modern retail channels have been slowly developed and are yetto change local consumers’ habits.

They stressed the need to encourage and create favourable conditions for businesses to develop modern retail channels.

Hoang Thi Tuyet Hoa, Deputy Head of the Planning Department under theMinistry of Industry and Trade, said that to help the retail marketeffectively operate, Vietnam has put distribution on the list ofconditional investments applied to foreign investors.

Since it joined the World Trade Organisation (WTO), Vietnam hasstep by step allowed foreign investors to export, import and distributegoods in order to ensure the adaptability and harmonious development ofthe domestic market.

By the end of 2009, therewere 445 supermarkets operating in Vietnam , up 62 compared with2008. Domestic enterprises opened 60 of these new supermarkets andforeign businesses established two./.
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