World retailers find Vietnam more attractive than China, says Italian daily

Italy’s leading business daily, Il Sole 24 Ore (literally meaning ‘the sun 24 hours’), has praised Vietnam as one of the most magnetic economies in the world and a leading destination for world retailing groups.

Vietnam still has a great potential for development and attracting foreign investment despite certain declines in its economy due to the global economic crisis, the newspaper said.

Il Sole 24 Ore quoted the latest research conducted by the market research company AT Kearney and affirmed that Vietnam has surpassed China and India to top the list of countries which are the most attractive to leading global retailers. This is thanks to the country’s advantages such as increased consumption, low costs in infrastructure and low competitiveness between retail groups.

The Italian daily  added that Vietnam’s improved attractiveness also comes from its high growth of GDP and its far-reaching industrialization and modernization process, and many businesses have been shifting their investment from China to Vietnam because of lower labour costs.

VOV

>   Finding ways of attracting Japanese investors (07/08/2008)

>   Northwest calls for investment (07/08/2008)

>   Swiss President praises Vietnam's potential (07/08/2008)

>   Dak Lak leads country in honey exports (07/08/2008)

>   Tightening measures to promote socio-economic development (07/08/2008)

>   Local businesses seek opportunities in the US (07/08/2008)

>   VND282,000 billion invested in Kon Tum Economic Zone (07/08/2008)

>   US$8.9 million for new business reforms (07/08/2008)

>   Switzerland helps consolidate metrology capacity (07/08/2008)

>   Seafood exports rise almost 18 percent this year (07/08/2008)