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VIETNAMESE BIZ URGED TO HAVE EFFECTIVE RETAIL STRATEGIES.

AsiaPulse News

| November 03, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

HANOI, Nov 3 Asia Pulse - Domestic businesses need to rapidly improve their competitiveness and formulate suitable and effective business strategies as the deadline for Vietnam to open its retail market under WTO commitments looms, according to a senior government official.

Speaking at discussions regarding the opening of the distribution market, which took place in Hanoi on October 31, Deputy Minister of Industry and Trade Nguyen Cam Tu predicted that the opening of the retail market from January 1, 2009 will create favourable conditions for many foreign distributors who possess greater financial muscle and modern distribution methods to penetrate deeper into the Vietnamese market, thus having the knock-on effect of helping to develop domestic distribution systems.

However, domestic businesses will also face an increasing number of difficulties and challenges as foreign groups will be permitted to establish wholly foreign-invested companies, increase their investments ...

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