Foreign business associations have urged the Vietnamese government to loosen and make more transparent the economic needs test (ENT) that foreign retailers have to pass to establish their second and subsequent outlets.
With a population of nearly 90 million, rapid economic growth, and a youthful population eager to keep up with the latest trends, Vietnam is a potential gold mine for retailers, Hong Sun, secretary general of the Korea Chamber of Business in Vietnam, told a consultation and dialogue held with businesses on ENT criteria in HCM City last Friday.
"But foreign distribution companies have not been able to fully penetrate the market due to the ENT process – an effective tool the Vietnam Government has used to control the development of foreign distribution networks in Vietnam," he said.
(Source: Viet Nam News)