The opening of the domestic market as committed in the EU – Vietnam Free Trade Agreement (EVFTA) will lead to the strong penetration of foreign businesses to expand their retail chains in the country.
Vietnam’s food processing and packaging industry has expanded by 15-20 percent annually over the past several years and is likely to grow further in the coming years, according to the Association of Vietnam Retailers (AVR).
The Association of Vietnam Retailers (AVR) held a business matching programme in Hanoi on August 27 to connect Russian businesses with local partners, and to introduce Russian goods to local retailers.
The rapidly growing demand for organic agricultural produce offers huge potential for businesses to invest in production and develop retail networks, experts said at a recent workshop in Ho Chi Minh City.
Against global recession and financial crisis, Vietnam’s retail industry has cemented its position in the economy as an effective bridge between producers and consumers, actively orienting buyers towards domestic products.
Vietnam’s total revenue from retail sales and services reached 2.58 quadrillion VND (114.7 billion USD) in the first eight months of this year, a year on year increase of 10.3 percent, reported the General Statistics Office (GSO).
The ninth Vietnam International Retail and Franchise Show (VIETRF 2017) kicked off at the Saigon Exhibition and Convention Centre of Ho Chi Minh City on June 1.
The total revenue from retail trade and services topped 118.4 billion USD during the first nine months of this year, surging 9.5 percent year-on-year, according to the General Statistics Office (GSO).
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