Vietnam seeks to green retail sector

The outlet for Vietnamese products at Lan Chi Ly Nhan supermarket (Ly Nhan, Ha Nam province) attracts a large number of shoppers. (Source: VNA)

Hanoi (VNA) – With a high growth rate but also extremely competitive, Vietnam’s retail sector needs to strive to improve products in the “race” to green its brands and towards sustainable production, in order to maintain its share in the domestic territory and reach export markets.

According to Nguyen Anh Duc, Chairman of the Vietnam Retailers Association, thanks to the great efforts of enterprises to constantly improve production and product quality, along with the guidance and support of the State, especially after nearly 15 years of implementing the “Vietnamese people give priority to using domestic products” campaign, the number of people using domestic products has increased dramatically from 73% to over 85%.

At the same time, through domestic and foreign trade promotion activities, new-generation Free Trade Agreements (FTAs) and a series of bilateral and multilateral FTAs ​​have created a large market network and become a driving force for Vietnamese enterprises.

With positive results, Vietnam continues to be considered a bright spot in the landscape of building and developing a National Brand with the fastest value growth rate in the world (up to 102%) in the period 2019-2023.

Vietnam’s brand value reached over US$498 billion last year, up 15.6% compared to 2022, ranking 33rd out of 121 countries assessed.

Pham Phu Ngoc Trai, Founder and Chairman of Vietnam Packaging Recycling Alliance (PRO Vietnam), shared that in the current period, Vietnamese enterprises are in the “race” to improve product quality and brand building not only to enhance competitiveness but also to comply with legal regulations.

According to statistics, currently in the national standards system, Vietnam has created around 750 standards aimed at promoting green growth, including standards relating to environmental, air and water quality, waste management and organic farming rules.

However, many companies say that the biggest challenge they face in both the domestic and export markets is green trade and this trend is creating certain barriers to joint production and business activities.

“One of the ways for companies to have a sustainable brand and reach the global market is to green the brand, in addition to constantly improving quality. Because compliance with green standards helps Vietnamese companies access demanding markets,” reiterated Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Business Association./.

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