5:13:05 PM | 20/10/2010
Vietnamese producers in fields of steel, cement, milk, animal feed and chemical fertilizers are facing fierce competition from foreign rivals, the Competition Management Department under the Ministry of Industry and Trade said in a report on competitiveness of 10 economic sectors.
Several products of the five sectors, including imported powder milk and construction steel, were slammed for unhealthy competitiveness due to their misleading advertisements, the report, the first of its kind in Vietnam so far, indicated.
Five other sectors comprising aviation, banking, insurance, petroleum distribution and telecommunication, were also criticized for unhealthy competitive behaviors such as abuse of advertisements and discounts to gain market share.
This report is aimed to establish and maintain a fair and healthy competitive environment for all economic sectors in Vietnam, Deputy Director of the Competition Management Department Vu Ba Phu noted, adding that it is expected to raise awareness of competition policies and law among enterprise circles.
General Secretary of the Vietnam Retailers Association Dinh Thi My Loan said the ranking was based on the impact of price changes, consumer responses and concerns about the surveyed industries or products.
The report wording, however, remained “soft and yet fully reflecting customer worries”, Loan added.
Vo Tri Thanh, Deputy Rector of the Central Economic Research and Management Institute who shared the same view with Dr Loan said the report should be subjected to objective evaluation by experts.
During the meeting organized in Hanoi on Oct 14 to announce the report, the Competition Management Department also unveiled a plan to conduct research and supervise the competitive structure of several other economic sectors for inclusion in the annual report.
Vietnam stood at the 59th in the Global Competitiveness Report 2010-2011 released by the World Economic Forum (WEF) on September 6, up 16 levels against last year’s report. (vietnamplus.vn, Vietnam Economic Times)
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