Image from The Nation Thailand/ANN
BANGKOK, June 18 (The Nation Thailand/ANN): Thai entrepreneurs should study the possibilities of tapping Vietnam’s retail market, which is growing steadily, the Department of International Trade Promotion said on Sunday.
Department director-general Phusit Ratanakul Sereroengrit said Vietnamese retailers have become modern, and are especially open to investment and cooperation, offering sales opportunities.
Vietnam’s retail market sales are expected to hit US$350 billion (12.13 trillion baht) by 2025, he said, citing the Thai Trade Centre in Ho Chi Minh City.
He advised Thai entrepreneurs to improve their trade, implement eco-friendly production and pay attention to the circular and green economy to boost their growth in the Vietnamese retail market.
Thai entrepreneurs should pay attention to e-commerce as well because online trading is now trending in Vietnam, he said, adding that sales via social media would enable them to access Vietnamese consumers.
He said e-commerce is an interesting choice for Thai businesses who want to expand trade in the Vietnamese market, thanks to low operation costs compared to opening physical stores.
However, he advised Thai entrepreneurs who want to penetrate Vietnam’s online market to study the country's laws and regulations related to online trading.
He added that the department would organise activities in Vietnam, such as sales promotions between Thai and Vietnamese retail stores from August 1-14 this year. - The Nation Thailand/ANN
