Growing number of domestic retailers in Vietnam

The spectacular growth of the domestic retail market in Vietnam in the last 5 months of the year has encouraged the country's largest retailers to launch new investment projects.

According to the Ministry of Industry and Trade, domestic retail sales of consumer goods and services reached 25 billion in the past five months, an increase of 26.9% over last year. The value is estimated to increase by 20% to 57.6 billion by the end of 2010.

Dinh Thi My Loan, vice president of the Viet Nam Retailers Association, said the domestic retail market has grown rapidly, as evidenced by the number of shopping malls and supermarkets being opened each year in various cities and provinces across the country.

Domestic retailers in Vietnam are projected to have 850 shopping malls and supermarkets and thousands of convenience stores by the end of the year. At least 15 foreign retailers have a presence or plan to have a presence in Ho Chi Minh City.

Source: Viet Nam News

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