The event was co-organised by the Ministry of Industry and Trade (MoIT)’s Domestic Markets Department and the RoK-based Reshaping Development Institute.

Illustrative image.

Speaking at the seminar, Tran Duy Dong, head of the department, said as part of a project on comprehensively developing Vietnam’s distribution industry, a group of Vietnamese and Korean researchers have published a report on the win-win cooperation policy and ways to boost competitiveness and growth of the Vietnamese sector.

According to the group, the core issue that challenges the development of the industry is a conflict between the modern and large-scale distribution system and the traditional market model.

Dong said the MoIT will continue working to modernize the distribution industry and create a balance between the modern and traditional systems.

Kang Min Ho, general director of LOTTE Mart Vietnam, said his company has signed an agreement with the Korea International Cooperation Agency to support the project, adding that both sides highly value the growth of the Vietnamese distribution market.

Nguyen Thanh, Director of the Thua Thien – Hue Department of Industry and Trade, said traditional markets face difficulties related to outdated infrastructure as well as food safety and product origin problems.

Consumers, particularly in urban areas, are switching to shopping at malls and buying products online, thus causing the system to become stagnant, he added.

Thanh said there is a need for investment in improving these markets’ infrastructure and developing professional operations and services at wholesale markets. Capacity training for market managers and the promotion of technological application among sellers are also necessary, he said.

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Source: VNA