According to a report by SSI Research, tightening the control of counterfeit goods in Vietnam will create opportunities for tax-compliant businesses like Mobile World (MWG), FPT Retail (FRT), and Digiworld (DGW) to increase market share. Recent crackdowns have caused consumers to shift towards more reliable modern retail channels. The draft Decree 70/2025/NĐCP requires larger businesses to issue invoices, enhancing tax collection and improving competitiveness between traditional and modern channels. However, some small businesses may have to suspend operations due to difficulties in adapting. Additionally, the revised decree on gold trading is also being implemented, allowing private enterprises to enter the market. However, PNJ may face pressure from inspections of gold trading activities in the short term.
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