Vietnamplus

Vietnamese consumers are more and more interested in locally-made products and place greater trust in local retail brands, market researcher Nielsen has said.

The local retail market is forecast to grow at a double-digit rate in 2021, so domestic retailers have rushed to open new stores across the country to expand their market share since the beginning of the year.

Vietnam-Thailand trade is likely to hit 20 billion USD in 2020, but the target to keep the trade value in balance may not be met with Vietnam currently running huge trade deficit with the neighbouring country.

About 200 brands have been franchised in Vietnam over the last decade, but the franchise of Vietnamese brands is just in the initial stage at present, insiders said at a workshop in Ho Chi Minh City on May 4.