Thai investors see super attractive opportunities from Vietnam's retail market

The Department of International Trade Promotion (DITP) under the Thai Ministry of Commerce on June 18 recommended that Thai businessmen study the possibility of exploiting Vietnam's steadily growing retail market.

Vietnam's retail market turnover is expected to reach 350 billion USD (12,130 billion Baht) by 2025.

The Nation (Thailand) newspaper quoted DITP Director Phusit Ratanakul Sereroengrit as saying that Vietnamese retailers have become modern and are especially open to investment and cooperation, bringing sales opportunities.

Citing figures from the Thai Trade Center in Ho Chi Minh City, Mr. Phusit said Vietnam's retail market turnover is expected to reach 350 billion USD (12,130 billion Baht) by 2025.

Mr. Phusit recommended that Thai businesses improve trade, implement environmentally friendly production and pay attention to the green and circular economy to promote growth in the Vietnamese retail market.

Besides, Thai entrepreneurs should also pay attention to e-commerce because online transactions are a trend in Vietnam and selling via social networks will allow them to reach Vietnamese consumers.

According to the DITP official, e-commerce is an interesting option for Thai businesses looking to expand their business in the Vietnamese market due to its low operating costs compared to opening a traditional store. However, he advised Thai businessmen who want to penetrate Vietnam’s online market to study the country’s laws and regulations related to online transactions.

Mr. Phusit also said that DITP will organize activities in Vietnam, such as sales promotion between Thai and Vietnamese retail stores from August 1-14 this year.

Source: https://baoquocte.vn/nha-dau-tu-thai-lan-nhin-thay-co-hoi-sieu-hap-dan-tu-thi-truong-ban-le-viet-nam-231398.html