The competition between domestic and foreign goods in accessing modern distribution channels has become tougher, according to economic experts.
This is being put down to the fact that goods coming from ASEAN countries into Vietnam enjoy a tariff of zero percent as a series of Free Trade Agreement (FTAs) take effect, which puts pressure on Vietnamese goods in terms of their quality and price.
Le Viet Nga, deputy head of the Ministry of Industry and Trade (MoIT)'s Domestic Market Department, said the MoIT project to develop the local market and connect supply and demand have helped local enterprises strengthen the presence of their products in modern distribution channels.
In addition, the Law on Support for Small and Medium-sized enterprises (SMEs) has been submitted to the National Assembly, which helps SMEs operating in the country to grow and catch up with Vietnam’s process of deeper integration into the world economy, said Ms Nga.
Ms Nga emphasized the need to seek solutions for SMEs to survive in the context of fierce competition with multinational businesses that have strengths of technology, management skills and capital sources.
VOV
