Vietnam and RoK share experiences in distribution sector

A seminar highlighting the policy of a win-win cooperation in the distribution sector between Vietnam and the Republic of Korea was held in Hanoi on September 4.

Illustrative image (Photo: VNA)
Illustrative image (Photo: VNA)

The event was jointly organised by the Domestic Market Department under the Ministry of Industry and Trade of Vietnam and the Re-shaping Development Institute (ReDI) of the Republic of Korea.

Speaking at the seminar, Director of the Domestic Market Department Tran Duy Dong said that Vietnam's retail market is growing stronger thanks to the advantage of a large population of over 90 million people.

Besides, Vietnam's retail market is also becoming more competitive and attractive with the emergence of new trends such as online sales, omni channel sales, he added.

Remarkably, in 2018, Vietnam's total retail sales and service revenue reached about US$190 billion, an increase of 11.7% compared to 2017.

Participants at the seminar agreed that Vietnam has huge potential to develop its retail market and the development of chains will help companies promote their brands, enhance their competitiveness, increase their revenue, and reduce risks.