Vietnamese goods make up high proportion of domestic supermarket system Local products account for over 90% of domestic enterprises’ distribution systems, while they account for between 60% and 96% for foreign supermarkets, according to figures released by the Ministry of Industry and Trade (MoIT). The data was given during a recent conference held by the MoIT aimed at reviewing plans to develop the domestic market in association with the “Vietnamese people give priority to using Vietnamese goods” campaign for the 2014 to 2020 period. In terms of traditional retail channels, the proportion of locals products at markets and in convenience stores makes up 60% or more, with key products reaching over 80% of the target set out in the plan. Most notably, beginning early this year amid the spread of the novel coronavirus globally, many businesses have witnessed their export markets become disrupted, resulting in installed raw materials sources and orders. Indeed, the domestic market is viewed as a significant enough playground for local businesses to exploit whilst overcoming the various difficulties and challenges they face. Statistically, despite the total retail sales of goods and services during the first seven months of the year falling by 0.4% in comparison with… Read full this story
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