How Does Hu Zhiming Develop The Retail Market?

Vietnam reported that the Hu Zhiming municipal government is urgently looking for ways to help local authorities.

They maintain their competitiveness in the face of foreign competitors and domestic manufacturing recession.

Occupancy rate.

Nguyen Thanh Phong, chairman of the Hu Zhiming Municipal Committee of the people's Republic of China, delivered a speech at the end of the 2016 Conference on social and economic performance in 2016 of May 30th (2016), calling for the completion of a business service development plan and development of the city by the chamber of Commerce and industry.

And confirm the main products of the city.

The canal said that if the city lacked the retail market development policy, local retailers would be replaced by foreign retailers. They said they would host a meeting to discuss how to develop the retail market.

Canal said that the main retailers in South Korea think Vietnam is a market with great potential, so canal will promote the export of small and medium-sized enterprises in South Korea to Vietnam.

Thailand retail enterprises are looting the local market in Vietnam. Metro's retail chain store in Vietnam has been sold to a Thailand enterprise and renamed as Mega Market Vietnam. Besides, Robins, Nguyen Kim, Zalora and Big C Vietnam also have foreign equity.

Aeon department store in Japan is also striving to become the second largest Asian retail market in Vietnam, second only to Thailand. Foreign retailers in Hu Zhiming account for 51% of the total retail market in Hu City.

Phong chairman stubborn tune, if now do nothing, the future retail market will be entirely occupied by foreign investors.

Vo Van Hoan, director of the office of the municipal government, said that local manufacturers are facing difficulties, which can be clearly seen by the May industrial production index 3.4%, which has dropped by 8.5% compared with May (2015).

After the signing of the FTA in Vietnam, it may be more difficult.

Therefore, it is suggested that the municipal government hold a meeting in June to discuss measures to improve investment and business environment and enhance the competitiveness of local enterprises.

Prior to that, HCMC Business Association said that its member companies had encountered difficulties in supplying their products to supermarkets with foreign participation. According to news reports, the ratio of locally manufactured products in such supermarkets has declined. Hu Zhiming said.

According to the association's data, Vietnam's manufacturing products used to account for 80-90% in supermarkets, but surveys show that foreign products have increased rapidly in supermarkets with foreign investment.