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| Vietnam's retail industry has a market size of USD142 billion USD (Photo: congthuong.vn) |
According to the Ministry of Industry and Trade, Vietnam's retail industry has a market size of USD142 billion, which is forecasted to increase to USD350 billion by 2025, and continues to be one of the high potential sectors. Therefore, more and more international businesses are interested in and invested in the Vietnamese retail market. Typically, recently, Israeli and Brazilian delegations came to Vietnam to explore investment opportunities.
Specifically, on May 29, the Israeli delegation led by Mr. Gal Saf, Commercial Counselor of the Israeli Embassy in Vietnam, worked with the Association of Vietnam Retailers (AVR) to explore investment opportunities and expand cooperation in the retail sector in Vietnam.
Israel is known as an innovation power, with more than 500 retail technology startups providing solutions for a wide range of applications, from supply chain logistics to customer experience in the store. In recent years, multinational companies such as Nike, Alibaba and Walmart are increasingly interested in Israeli solutions.
Mr. Gal Saf, Israel's Trade Counselor in Vietnam highly appreciated the potential of the Vietnamese retail market and highlighted the important role of AVR in connecting and orienting the Vietnamese business community for both operating effectively in the country and gradually expanding to regional and international markets.
Working with the Israeli delegation, Mr. Nguyen Anh Duc, AVR President, said that from now until the end of the year, the AVR will organize many activities to connect and share market information to practically support domestic enterprises to maintain their domestic market share and increase exports to potential markets.
Notably, two big events planned by AVR include Vietnam Retail Forum to share global and regional retail trends, services, technology, innovation, and modern retail service solutions; and the strategic cooperation forum related to import-export cooperation and processing of private label products between Vietnam and other countries, including Israel.
At the same time, the Brazilian delegation led by Mr. Marco Farani, Brazilian Ambassador to Vietnam, has also worked with the AVR to discuss trade promotion activities between the two countries./.