VCCI Organises Seminar on Positioning Retail Market

Vietnam Chamber of Commerce and Industry - HCM City Branch (VCCI-HCM) collaborated with the Vietnam Retailers Association to recently organise the seminar on “Positioning the retail market successfully - winning strategies and main effects” in Ho Chi Minh City, which was attended by senior retail consultants and specialists.

 

Mr Phan The Rue, Chairman of the Vietnam Retailers Association, said: “The Vietnamese economy kept the annual growth rate at 7 - 8 per cent while the retail and service sector’s growth has been 20 per cent for many consecutive years, bringing the total retail and service revenue to 50 per cent of the gross domestic product (GDP). In 2009, despite direct negative impacts of the global economic crisis, the retail and service revenue in the first eight months of 2009 still rose 18 per cent. In 2009, the total retail and service revenue is estimated to reach US$44 billion (or VND850 trillion) and soar to US$85 billion in 2012.

 

According to experts, although foreign retailers will not step into Vietnam this time, the Vietnamese Government should open the door to foreign retailers. The potentiality and attractiveness of the Vietnamese retail market will become a magnet for global retailers.