Despite macro uncertainties such as high inflation and lower consumer spending, foreign retailers still want to enter the Vietnamese retail market, which fell from the 14th to 23rd place in A.T. Kearney Consultancy Group's retail market attraction rankings this year. E-Mart, South Korea's top discount store chain, has made inroads in the local market in a joint venture with Binh Duong-based U&I Group to set up a supermarket chain with a total investment of US$1 billion. According to Mai Huu Tin, chairman of U&I Group, the E-Mart Vietnam supermarket chain has an initial investment of US$80 million with 80 percent coming from E-Mart. The joint venture will kick off its first project in 2012 and its chain of 52 supermarkets and shops in large urban areas is expected to be completed before 2020, providing fresh food and agro-seafood products for the Vietnamese market. Tin said that there were still numerous development opportunities for Vietnam's retail market in these … [Read more...] about VN’s retail market remains attractive to foreigners
Retail market
Retail market warms up
Experts say the domestic distribution market will receive more big foreign retailers. Meanwhile, the existing distribution chains in Vietnam also plan to expand their investment scale. Thoi bao Kinh te Saigon has quoted its source from the HCM City Planning and Investment Department as saying, that the Japanese leading retail group – Aeon – has applied for investment license in the distribution sector in HCM City. The retailer with more than 180 subsidiaries plans to invest more than 100 million dollars to build a trade center that serves its business in Tan Phu district. Aeon is believed to be a redoubtable rival for any retailers, because it has good experiences and big financial capability. Though the Japanese group’s project has just been put into the table of the state management agencies, Aeon is taking necessary steps in terms of the labor force to prepare to enter the Vietnamese market. Japanese Nikkei has reported that Aeon is taking hectic preparations … [Read more...] about Retail market warms up
Vietnam listed among top six most-attractive retail markets
Vietnam has been ranked sixth among the world's most attractive retail markets and named in the top 30 most lucrative retail markets this year, said Hoang Anh Tuan, deputy head of the Ministry of Industry and Trade (MoIT)'s Domestic Market Department. Illustrative photo Tuan made the remarks at the Vietnam Retail Forum 2017 which was held by the Association of Vietnam Retailers (AVR) in Hanoi on December 12.Tuan said that according to the Global Retail Development Index (GRDI), released by the US-based A.T. Kearney in June this year, Vietnam's retail market has increased significantly in recent years and attracted a large number of foreign merchants.A series of giant retailers from Japan, Thailand, the Republic of Korea, and France have boosted their investments in Vietnam, showing the allure of Vietnam's retail market with a large and youthful population of more than 90 million.However, Tuan stated that Vietnam's retail market has become more competitive, creating huge … [Read more...] about Vietnam listed among top six most-attractive retail markets
Vietnam Retail Forum reviews 10-year retail market growth
Illustrative image (Source: VNA) Hanoi (VNA) – The VietnamRetail Forum, themed “10 years of retail market and challenges in the future”, washeld in Hanoi on December 12. Speaking at the event, Chairwoman of theAssociation of Vietnam Retailers (AVR) Dinh Thi My Loan said 2017 marks the 10th founding anniversary of the AVR and 10 years since Vietnam entered the WorldTrade Organisation. Over the past decade, the AVR has strived todevelop a modern and consumer-oriented retail industry, served as a bridgebetween manufacturers and consumers and spread the campaign “Vietnameseprioritise Vietnamese goods”. Hoang Anh Tuan, deputy head of the Ministryof Industry and Trade’s Domestic Market Department, said the AVR now has 216members compared to 100 at its establishment. He lauded the AVR for connecting its memberswith State management agencies, giving feedback on retail-related laws andpolicies and refining policies on managing foreign retailers.As … [Read more...] about Vietnam Retail Forum reviews 10-year retail market growth
Vietnam’s retail market: convenience stores mushroom
VietNamNet Bridge - Vietnam is witnessing the strong expansion of small supermarket and convenience store chains applying high-tech solutions in sales, storage and customer management. Vietnam is listed among the 30 attractive retail marketsVietnam is listed among the 30 most attractive retail markets and has returned to the sixth position in GRDI (global retail development index) as announced by AT Kearney.A survey by Kantar Worldpanel found that one-third of Vietnamese households bought things at small supermarkets and convenience stores at least once and 10 times a year on average. … [Read more...] about Vietnam’s retail market: convenience stores mushroom