Regional retailers run fast, Vietnamese inch forward

VietNamNet Bridge – While other regional countries have made big leaps in developing their retail industries, the achievements gained by Vietnam have been modest in the last 10 years since Vietnam joined the WTO. Vietnam is an attractive retail market The chair of the Vietnam Retailers’ Association Dinh Thi My Loan said Vietnam is known as a target market for the world’s leading retailers with attractive profits. According to GSO (General Statistics Office), total retail revenue in 2017 reached $130 billion, increasing by 10.9 percent compared with 2016. However, Vietnamese retailers cannot make big money from the market.Loan, who returned to Vietnam after attending the 18th APRCE (Asia-Pacific Retailers Convention & Exhibition), said she is worried about Vietnam’s retail industry.“We have been admiring the strong development of Singapore. The other countries in South East Asia including Malaysia, Thailand and the Philippines have been developing rapidly in the retail industry,” she said.“Vietnam is taking small steps forward in the development path. But other regional countries are running,” Loan said.From Japan, the Aeon Mall, Family Mart, Ministop, Takashimaya and 7-Eleven have come to Vietnam with ambitious plans to open many retail points in the promising market.In late 2017, Aeon Mall announced the opening of its fifth shopping center in Ha Dong district with investment capital of $200 million. The giant is moving ahead with the plan to own 20 shopping malls in Vietnam by 2020.Coming to Vietnam in June 2017, 7-Eleven has opened 11 shops in HCMC, which was part of its plan… [Read full story]

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