(DT) - Despite the financial global crisis, growth rates of the Vietnamese retail industry were on the rise in 2009 which highlighted tremendous efforts made by the enterprise community.A forum on Vietnamese retail and distribution market of potential, cooperation and development was held jointly today by the Association of Vietnam Retailers (AVR) and Vietnam Economic News under the Ministry of Industry and Trade in Hanoi.
As part of the event, opportunities and challenges of the industry were among the hot topics.
Although the economy was faced with a global financial crisis last year, the Vietnamese products and services retail market remained on the rise, growing 18.6 percent and making up 14 percent of the Gross Domestic Products.
Thanks to foreign investment stimulus policies by the government and increasing consumer demands, the industry is predicted to reach USD85 billion by 2012, according to RNCOS, a leading market research and information analysis company.
In addition, Vietnam has a young consumer population, high consumer confidence index and the consumption rate of Vietnamese people is 70 percent of their incomes, according to AVR.
Vietnamese enterprises have been aware of the important role of distribution and retail systems. Many new retail methods appeared in Vietnam such as Internet shopping, TV shopping and multi-level sales. The industry will also lean towards “green shopping” to protect the environment by using environmentally friendly shopping bags, packaging, etc.
The industry will still be faced with such challenges as weak expertise, management experience, shortage of investment, infrastructure development and IT application, according to AVR.
Other topics addressed were banking solutions for the retail industry, Vietnamese retail property market, IT application and amendment in policies of the industry.
