The agreement came following the signing of a Memorandum of Understanding (MoU) between the two sides in Hanoi in an effort to develop the domestic market, campaign Vietnamese people to prioritise Vietnamese goods, and facilitate Vietnamese producers to participate in foreign distribution channels.
In his remarks at the event, Deputy Minister Do Thang Hai said the MoU aims to promote the distribution of Vietnamese products in MM Mega Market’s retail chains in Vietnam and facilitate them to access retail stores of TCC Land International (Singapore) Pte, Ltd and other firms of the TTC Group outside Vietnam.
Under the deal, the ministry will support MM Mega Market to seek partnership with reputable Vietnamese producers, raising the rate of Vietnamese goods in the Thai-owned retail chains to 90 percent.
The two sides will also work closely together in organising Vietnamese goods weeks, seminars and training courses to popularise and promote the Vietnamese products to TCC Group’s foreign distribution channels. At the same time, they will help Vietnamese businesses and producers improve their product quality to the standards and requirements of the distributors.
The agreement follows the success of cooperation between the MoIT and other major foreign retailers in Vietnam, such as AEON from Japan, Central Group from Thailand and Lotte from the Republic of Korea, in supporting Vietnamese manufacturers develop the domestic market and enter foreign ones.
The MM Mega Market exported Vietnamese agricultural products to Thailand for the first time last year. The products include frozen tra fish, squid, star apple, pink flesh grapefruit and dragon fruit.
The firm will join hands with the HCM City Department of Industry and Trade to hold a Vietnamese goods week in Thailand this October.