Vingroup reduces discounts for Vietnamese businesses

This is one of the solutions to help businesses gain a firm foothold in the Vingroup retail system; increase production and consumption to compete with foreign investors.

Vingroup has just launched three solution packages to support Vietnamese businesses, including promoting the consumption of Vietnamese goods through the retail system, promoting the production and consumption of domestic goods, and directly participating in production in a number of consumer goods industries.

In the immediate future, the group has a large preferential discount policy for small and medium enterprises consuming goods through Vingroup's retail system. Particularly for fresh foodcleandistributed at the supplier's selling price for one year.

Vingroup's retail network currently has 50 Vincom shopping malls, 800 Vinmart and Vinmart+; 59 VinDS stores, 123 Vinpro and Vinpro+, and millions of Adayroi accounts.

With the joint venture model of VinMart and VinEco, Vingroup said it will purchase the entire package, organize the distribution system and control the quality to ensure safe food sources at the best prices for consumers. However, the business must ensure that the products are recognized by quality control systems and prove their origin.

A representative of Vingroup Corporation affirmed that it is ready to support small and medium-sized enterprises that need to contribute capital or provide advice on technology, management, quality control, marketing, product consumption, etc. Thanks to that, domestic businesses have the conditions to expand production, upgrade quality, and optimize competitiveness against imported goods. This unit also devotes resources to restore and rebuild the Vietnamese specialty system in the coming time.

Vingroup purchases, distributes and controls quality to ensure clean food reaches consumers.

In parallel with output support, Vingroup is promoting coordination with industry associations and agencies to research solutions to support Vietnamese enterprises. Together, the parties establish a quality level for enterprises to build trust, improve capacity, and aim to bring Vietnamese brands to the international market.

Mr. Le Khac Hiep, Vice President of Vingroup, said that the free trade agreements taking effect along with the wave of foreign enterprises entering Vietnam are creating great pressure on the retail sector in particular and domestic production in general.

"Competitive pressure is an opportunity for Vietnamese enterprises to proactively improve and upgrade product quality, ready to compete fairly and equally with foreign competitors. Vingroup commits to working together for the long term for Vietnamese goods," he shared.

Vingroup will support capital, technology, management, quality control, marketing, product consumption, etc. for domestic enterprises.

Vingroup's move aims to support and promote further development of domestic production, especially in the context of Vietnam joining the ASEAN Economic Community.The Trans-Pacific Partnership (TPP) agreement. Entering a larger playing field brings many investment opportunities, but there are also many challenges awaiting businesses.

According to VNE