08:33 | 09/03/2016 Trade
(VEN) - Vietnamese goods accounted for 70 percent of the goods sold at Hanoi’s wholesale Dong Xuan Market compared to the dominance of Chinese goods some four years ago.
Vietnamese producers account for a large proportion of the shoes sold at the Dong Xuan Market
Dong Xuan is the largest wholesale market in Hanoi, providing goods for northern provinces with 2,316 traders including fabrics, clothes, bags, footwear, food and foodstuff.
Chinese goods accounted for a large proportion of the goods sold at the Dong Xuan Market four years ago. In response, the Dong Xuan Market Management Board organized many meetings and seminars to seek solutions in order to increase the presence of Vietnamese goods in its market. Great efforts have brought positive results for the Dong Xuan Market.
Dong Xuan Joint Stock Company General Director Do Xuan Thuy said that Vietnamese seafood, agricultural products, footwear, fabrics and clothes have accounted for 100 percent, 80 percent, 70 percent, 45 percent and 40 percent of the goods sold at the Dong Xuan Market, respectively.
These items are originated from trade villages and domestic businesses such as Thai Tuan and Phuoc Thinh textile companies, Hanoi Textile and Garment Joint Stock Corporation and Vien Thinh Shoes Co., Ltd.
Nguyen Thi Quy from the Dong Xuan Market said, “I was one of the earliest traders at the Dong Xuan Market. Vietnamese goods have won consumer trust thanks to their better quality compared to Chinese goods. Therefore, my store’s revenues have annually reached around VND3-4 billion.”
The presence of Vietnamese goods in the Dong Xuan Market has been poor. Do Xuan Thuy said that competitiveness of Vietnamese goods remained weak and designs were old-fashioned, while Chinese goods were better designed and better value.
Domestic businesses have not yet paid special attention to traditional markets and their mechanisms and policies have largely been untried. Chinese partners usually deliver their items to the Dong Xuan Market’s stores and collect money after goods are sold. Meanwhile, traders must sign contracts with domestic businesses which include strict conditions and must buy goods in bulk and immediately implement payments.
According to the Ministry of Industry and Trade’s Domestic Market Department, to help Vietnamese goods enter traditional markets, long-term solutions are needed. Domestic businesses should pay attention to traditional markets and establish distribution channels in order to improve consumer awareness about Vietnamese goods. Promoting links between businesses and traders were also mentioned as necessary to help Vietnamese goods maintain their position in the domestic market.
Dong Xuan Joint Stock Company General Director Do Xuan Thuy said that domestic businesses should pay attention to traditional markets as they are a main distribution channel with higher sales compared to shopping centers and supermarkets.
Quynh Nga & Lan Anh