Vietnamese products hold firm position in domestic market
|Shoppers at Big C Thang Long supermarket. (Photo: qdnd.vn)|
With the Lunar New Year (Tet) is just around the corner, domestic supermarkets such as Mega Market, Big C, Hapro Mart, Saigon Co.op and Winmart have been filled with products for Tet, most of which are domestic.
According to Le Manh Phong, Managing Director of Big C & Go! in Hanoi and northern region under the Central Retail Vietnam, Vietnamese products are making up over 90% of the total products available in the supermarkets chain.
Bui Trung Chinh, Food Purchasing Manager for the southern region at AEON Vietnam, said that the majority of products sold in the supermarket are supplied by Vietnamese partners, with over 80% being domestic products.
Data from the Ministry of Industry and Trade (MoIT) showed that currently, Vietnamese products are occupying more than 90% of space at domestic distribution facilities, and 60-96% of foreign supermarkets in Vietnam. At traditional markets, the rate is at least 60%.
Particularly, since the COVID-19 pandemic broke out, 76% of Vietnamese consumers have said that they choose domestic products, especially those with trademark and high quality, it said.
Le Viet Nga, Vice Director of the Domestic Market under the MoIT, said that the ministry and domestic firms have paid special attention to material zone to ensure the quality of products, while improving the design and packaging to meet the demands of consumers. At the same time, suppliers have focused on environmental issues and communications to draw more consumers, she said.
However, experts held that with the engagement in many free trade agreements, the nearly 100-million-strong Vietnamese market is becoming an increasingly attractive destination for foreign commodities, which means fiercer competitions facing Vietnamese goods.
They advised domestic firms to raise their production capacity through the strengthening of science-technologies.
Nga said that in order to support Vietnamese firms to improve their competitiveness at the domestic market, the Prime Minister has signed a decision on the development of the market in association with the campaign to encourage Vietnamese people to use Vietnamese products, with an aim to ensure Vietnamese strong products making up 85% of modern distribution channels and over 80% in traditional channels.