Vietnamplus

A high proportion of products from distribution channels in Hanoi are locally made, unveiled by the Steering Committee for the campaign “Vietnamese people prioritise Vietnamese goods” at a press conference in the city on July 21.

The presence of many giant retailers in Vietnam is expected to create new distributing channels for domestic agricultural products, giving local farm produce more chances to enter foreign markets, according to the Nong nghiep Vietnam (Vietnam Agriculture) Newspaper.

Building and promoting brands is vital for Vietnamese businesses to integrate deeply and widely into the global economy, experts said.

Vietnam boasts a huge potential for the development of convenience shopping outlets, market research company Nielsen Vietnam said in its report released during a roundtable in Hanoi on May 29.

Vietnam’ retail sector, with a breath of fresh air from foreign retail distributors, has initially proved its change to better.

The number of shoppers at major supermarkets in Hanoi and Ho Chi Minh City rose between 30 and 40 percent during the New Year holiday on Jan. 1-2.

Almost every supermarket in big cities like Hanoi, Ho Chi Minh City and Da Nang are packed in the run up to the Lunar New Year (Tet) as shoppers flock to buy goods for the year’s largest festival.

Against the backdrop of industrial production value and exports plunging sharply in the last eight months, Vietnam’s retail sector saw products flying off the shelves, attaining a growth rate of 18.4 percent.

According to the latest report from the General Statistics Office, the country’s revenue from the retail and services sector totalled 743 trillion VND in the reviewed period.