|
WTO helps local retailers make profit
Most local retail outlets have performed well and achieved a high growth rate after more than two years of membership in the World Trade Organisation (WTO), according to a HCM City official.
The Deputy Chairwoman of the municipal People’s Committee, Nguyen Thi Hong, said revenue at HCM City-based shopping centres and supermarkets had risen dramatically compared to the figures before WTO membership.
This trend defied the expectation and fear of retailers that WTO membership would have a negative impact, Hong added.
Local retailers have upgraded their facilities and logistical capabilities as well as quality of their services and goods.
They have expanded their outlets to better serve customers and compete with foreign rivals.
The Deputy General Director of Saigon Co-op, Nguyen Thanh Nhan, said: “In the last few years, we have focused on consolidating existing supermarkets and building new ones in an attempt to expand market share.”
Saigon Co-op Chairman Nguyen Ngoc Hoa said 3 million USD had been spent on training Co-op Mart’s management and staff.
“Thanks to good preparation, our business has developed very well,” Nhan said.
Compared to foreign rivals, most Vietnamese businesses are small, lack funds and have poor distribution networks, substandard equipment, according to the Department of Industry and Trade’s Deputy Director Tran Vinh Nhung.
Nhung said domestic supermarket chains should join forces to increase the local distribution’s competitiveness against foreign giants.
They should improve business strategies and join hands with producers to enhance product quality and develop distribution networks and brands, he added.
The city now has 88 shopping centres compared to the 2006 figure of 73.
vietnamplus
|
