The higher competitive pressure gives domestic enterprises more experience and motivation to improve their business capacity, product quality, service quality, and ability to capture the market. Domestic retail businesses needed to innovate, build sustainable brands, and strictly comply with regulations in production and business, retail market expert Vũ Vinh Phú said. To create favourable conditions for retail businesses, experts said that besides attracting foreign investment, it is also important to build Vietnamese retail channels by Vietnamese people. Vietnamese businesses need to build a brand for Vietnamese retail through small things such as greetings, post-sales policies, and customer care. Vietnamese retail businesses should both compete and cooperate with foreign entities to learn experience and advanced retail technology.

Source: Viet Nam News June 19, 2023 06:44 UTC