Vietnamese goods less competitive because of high costs, bad designVietNamNet Bridge - A report from the World Bank released in 2017 showed that business costs in Vietnam are much higher than in other regional countries such as Malaysia and Singapore. Business costs in Vietnam are higher than in other regional countriesHigher taxes, expenses on import/export procedures, and transportation and logistics costs all contribute to the weak competitiveness of Vietnamese goods. Pham Ngoc Thanh, director of Phuc Lam Consultancy & Trade JSC, said that in order to compete with imports, Vietnamese goods need to be available at large supermarkets. “With low quality and bad design, it is understandable why Vietnamese goods are less favored,” he said. RELATED NEWSForeign chains a launchpad for Vietnam goods to reach world marketAre 70-80 percent of goods at supermarkets Vietnam-made?

Source: VietNamNet News March 16, 2018 09:56 UTC