Foreign retailers want stronger operation in VN
VGP - Foreign distributors are actively planning to expand their business activities in Việt Nam at the time when the country officially opens its retail market in January 2009 under its WTO admission commitment.
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A score of international retailers, such as Metro Cash & Carry, desire to deeply penetrate in the Vietnamese market |
Best Denki, one of Japan’s five biggest electrical machine retailers, is ready to jump into the Vietnamese retail market next month.
The largest foreign distributor operating in Việt Nam, Metro Cash & Carry, has just been allowed by the Vietnamese Government to open its 9th center in Biên Hòa City of the southern province of Đồng Nai. The corporation is planning to launch more 12 centers throughout Việt Nam.
Meanwhile, the two supermarket groups from the Republic of Korea, Lotte is training employees for the debut of its big center in the Nam Sài Gòn urban quarter in Hồ Chí Minh City and GS Retail plans to build up ten shopping centers in Bình Dương Province in the next two years.
The commitment to open retail market has create a lot of chances for both domestic and foreign enterprises to promote their investment, offering more options to consumers.
According to the Association of Vietnamese Retailers, the total retail in 2003-2007 increased 18-22%, far from 8-10% pace of the previous period. In the first three quarters of this year alone, the retail value was estimated at VND 694,000 billion, up 30% against the same period last year.
Việt Nam now has around 400 supermarkets, 60 commercial centers and nearly 2,000 user-friendly shops. Vietnamese consumers can expect to go shopping at 700-750 supermarkets, 150 commercial centers and tens of thousands of user-friendly shops by 2010.
