The Department of International Trade Promotion (DITP) of Thailand has recommended local retailers to adapt their businesses and tap into the fast-growing Vietnamese market, which shows a highly promising growth trend.

The country’s The Nation newspaper quoted DITP director-general Phusit Ratanakul Sereroengrit as saying Thai retailers investing in Vietnam must focus on developing clean and environmentally friendly production, as well as aim for a circular economy and green labelling.

These efforts will contribute to their growth in the Vietnamese market, Phusit said, advising them to give attention to social media platforms in Vietnam, such as selling their products through Facebook Live and TikTok, making it easier to reach Vietnamese customers.

E-commerce is an interesting channel for businesses looking to expand their trade into the Vietnamese market, as it requires lower costs compared to opening physical stores and also allows access to the target consumers, he said.

However, the government has been making improvements to laws related to online commerce. Businesses seeking to enter the online market in Vietnam should study the laws and regulations related to e-commerce in the country, he suggested.

Vietnam’s retail market is expected to reach 350 billion USD in 2025, which will account for 59% of total domestic product sales, Phusit added.

DITP’s activities in Vietnam include promoting Thai product sales in collaboration with retail chains in Vietnam, such as Go! and Tops Market, from August 1-14./

Source: Vietnam News Agency