Retail in Asia

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Economic alliances in Vietnam key to attracting global retail

Domestic economic alliances would be the main factor in improving the flow of international revenues into Viet Nam, Theodore Knipfing, head of retail services at Cushman & Wakefield Asia Pacific, has said.

Speaking to the media about Vietnam’s retail market during a business trip to HCM City last week, he said the collaboration between domestic retailers, property developers, consumers, and policymakers would be the main factor rather than trade deals like the Trans-Pacific Partnership.

"The vast majority of people in Viet Nam are not used to shopping malls yet, so I think the message is that yes TPP will help a lot but a lot of things have to change, not purely trade, with restrictions being lifted; it is the way people live, the way people shop, that has to also change in hand with the economic improvements," said Knipfing.

(Source: Viet Nam News)