Economic competitive index made public

Cement, steel, chemical fertilisers, feeds and milk have been recognised as having relatively healthy competitive behaviours by the Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade for the first time.

The assessment came in a report released in Hanoi on October 14. However, it criticized some products of the above-mentioned five industries, including imported powder milk and construction steel, for unhealthy competitiveness due to their misleading advertisements. 

The report, which covered 10 economic sectors, slammed five other industries, namely aviation, banking, insurance, petroleum distribution and telecommunication, for unhealthy competitive behaviour, citing abuse of advertisements and discounts to gain market share. 

VCA Deputy Director Vu Ba Phu emphasised that the report aimed to establish and maintain a fair and healthy competitive environment for all economic sectors in Vietnam. It was expected to increase awareness of competition policies and law among enterprise circles.

Dr Dinh Thi My Loan, General Secretary of the Vietnam Retailers Association, said the ranking was based on the impact of price changes, consumer responses and concerns about the surveyed industries or products. 

The VCA unveiled a plan to conduct research and supervise the competitive structure of several other economic sectors for inclusion in the annual report.