Vietnamese shops make up largest informal retail chain in Czechia

09-10-2019

The informal chain of small Vietnamese stores makes up the largest retail chain in the Czech Republic and possibly composes up to a fifth of the market, according to the head of the Confederation of Trade and Tourism Tomáš Prouza. Speaking to the Czech News Agency, Mr. Prouza said that a new law amendment which is currently being prepared could affect these small-retailer alliances by re-evaluating them as a significant market power.

According to him, inspectors currently have problems when dealing with the owners of such stores in part because of the murkiness surrounding their company ID. By classifying such retailers as an alliance of traders under the new legislation could help tax them more effectively.