Business

Thai retailers advised to effectively exploit Vietnamese market

The Department of International Trade Promotion (DITP) of Thailand has recommended local retailers to adapt their businesses and tap into the fast-growing Vietnamese market, which shows a highly promising growth trend.
Thai retailers advised to effectively exploit Vietnamese market ảnh 1Vietnam’s retail market is expected to reach 350 billion USD in 2025 (Photo: baodautu.vn)
Bangkok (VNA) - The Department of International Trade Promotion (DITP)of Thailand has recommended local retailers to adapt their businesses and tapinto the fast-growing Vietnamese market, which shows a highly promising growthtrend.

The country’s The Nation newspaper quoted DITPdirector-general Phusit Ratanakul Sereroengrit as saying Thai retailersinvesting in Vietnam must focus on developing clean and environmentallyfriendly production, as well as aim for a circular economy and green labelling.

These efforts will contribute to their growth in theVietnamese market, Phusit said, advising them to give attention to social mediaplatforms in Vietnam, such as selling their products through Facebook Live andTikTok, making it easier to reach Vietnamese customers.

E-commerce is an interesting channel for businesses lookingto expand their trade into the Vietnamese market, as it requires lower costs comparedto opening physical stores and also allows access to the target consumers, hesaid.

However, the government has been making improvements to laws related to onlinecommerce. Businesses seeking to enter the online market in Vietnam should studythe laws and regulations related to e-commerce in the country, he suggested.

Vietnam’s retail market is expected to reach 350 billion USDin 2025, which will account for 59% of total domestic product sales, Phusitadded.

DITP's activities in Vietnam include promoting Thai productsales in collaboration with retail chains in Vietnam, such as Go! and TopsMarket, from August 1-14./.
VNA
#Department of International Trade Promotion #Thailand #retailers #Vietnamese market #Vietnam #Vietnamplus #Vietnam News Agency
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