The new model is designed to simplify the administrative structure, eliminate the intermediary district level, and bring government closer to the people, said Permanent Deputy Prime Minister Nguyen Hoa Binh.

Mergers and Acquisitions (M&As) by foreign companies is the fastest way to hold stakes in the Vietnamese electronic and electrical retail market.

Mergers and acquisitions in Vietnam's textile and garment industry have increased, in a bid to take advantage of free trade agreements, especially the Trans Pacific Partnership (TPP), experts said.

Mergers and acquisitions are churning the Vietnamese retail market, with large domestic players buying out rivals and massive investment by foreign retailers.