Foreign retailers become more interested in Vietnamese markets
Many foreign distributors are eagerly implementing their plans to expand their operations in the promising Vietnamese market at a time when the country is preparing to fully open its retail market in January 2009, pursuant to its WTO commitments.
One of Japan’s five largest electronics retailers, Best Denki, is preparing to establish a joint venture in Vietnam this November.
The group has previously selected Ben Thanh Marketing Company, which owns the group’s Best Carings brand, as its partner for franchising.
According to Best Denki’s Singapore-based Regional Marketing and Business Development Director, C. J. Raj, the group has plans to open 10 more electronics supermarkets in several major cities in Vietnam, in addition to the ones now in Hanoi and the southern city of Can Tho. The move is aimed at winning 5 percent of Vietnam ’s electronics market, worth US$3 billion annually, by 2012.
Vietnam’s largest foreign distributor, Metro Cash & Carry, was granted permission to open its ninth outlet in Bien Hoa city, in the southern province of Dong Nai, in August. The group has announced plans to open a further 12 outlets in Vietnam.
Since it began operations in Vietnam six years ago, Metro Cash & Carry has invested US$120 million in eight wholesale centres in five cities and provinces.
The Republic of Korea (RoK)-based supermarket group, Lotte, is preparing to open a trading centre in Ho Chi Minh City ’s South Saigon area, while another RoK group, GS Retail, plans to build 10 shopping centres in southern Binh Duong province over the next two years.
Meanwhile, Thai Charoen Pokphand (CP) Group, famous for producing fresh and processed food, has moved quickly to open a chain of Fresh Mart outlets in Ho Chi Minh City.
According to the Vietnam Retail Association, domestic retail sales for the 2003-2007 period increased by 18-22 percent per year, far exceeding the 8-10 percent figure recorded in the previous period. In the first nine months of this year, the country’s total retail sales value reached VND694 trillion, a year-on-year increase of 30 percent.
Vietnam is home to 400 supermarkets, 60 trade centres and 2,000 convenience stores. The country expects to have 700-750 supermarkets, 150 trade centres and thousands more convenience stores by 2010. (VOVNews/VNA )
The group has previously selected Ben Thanh Marketing Company, which owns the group’s Best Carings brand, as its partner for franchising.
According to Best Denki’s Singapore-based Regional Marketing and Business Development Director, C. J. Raj, the group has plans to open 10 more electronics supermarkets in several major cities in Vietnam, in addition to the ones now in Hanoi and the southern city of Can Tho. The move is aimed at winning 5 percent of Vietnam ’s electronics market, worth US$3 billion annually, by 2012.
Vietnam’s largest foreign distributor, Metro Cash & Carry, was granted permission to open its ninth outlet in Bien Hoa city, in the southern province of Dong Nai, in August. The group has announced plans to open a further 12 outlets in Vietnam.
Since it began operations in Vietnam six years ago, Metro Cash & Carry has invested US$120 million in eight wholesale centres in five cities and provinces.
The Republic of Korea (RoK)-based supermarket group, Lotte, is preparing to open a trading centre in Ho Chi Minh City ’s South Saigon area, while another RoK group, GS Retail, plans to build 10 shopping centres in southern Binh Duong province over the next two years.
Meanwhile, Thai Charoen Pokphand (CP) Group, famous for producing fresh and processed food, has moved quickly to open a chain of Fresh Mart outlets in Ho Chi Minh City.
According to the Vietnam Retail Association, domestic retail sales for the 2003-2007 period increased by 18-22 percent per year, far exceeding the 8-10 percent figure recorded in the previous period. In the first nine months of this year, the country’s total retail sales value reached VND694 trillion, a year-on-year increase of 30 percent.
Vietnam is home to 400 supermarkets, 60 trade centres and 2,000 convenience stores. The country expects to have 700-750 supermarkets, 150 trade centres and thousands more convenience stores by 2010. (VOVNews/VNA )
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