Việt Nam’s retail sector needs stronger autonomy, better-quality services and sustainable competitive advantages to meet long-term development goals, experts said at a recent roundtable on the Retail Market Development Strategy to 2030, with a vision to 2050. The Institute of Industry and Trade Policy and Strategy noted that global retail trends have shifted dramatically since COVID-19, with digital habits and consumption patterns becoming permanent. Although retail continues to support domestic demand amid export challenges, the sector still lags behind the Government’s annual growth target of 10–12 per cent. Weaknesses include the limited capacity of domestic distributors, capital shortages, slow digital transformation and a shortage of skilled labour. Outdated commercial and logistics infrastructure raises costs and reduces the competitiveness of Vietnamese goods, while loose market control allows fake and low-quality products to circulate. Domestic retailers also face fierce competition from foreign corporations with greater financial strength. Despite these challenges, growth potential remains high, driven by a rapidly expanding middle class and one of the world’s fastest-growing e-commerce markets. Experts stressed that potential will only be realised with a comprehensive strategy aligned with Decision 2326/QĐ-TTg, focusing on modernising infrastructure, improving logistics, strengthening market supervision and supporting SMEs. If effectively implemented, Việt Nam’s retail market could become one of the region’s most dynamic and contribute significantly to economic growth and living standards. — VNS (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News