The spectacular growth of Vietnam's domestic retail market in the last 5 months of the year has encouraged the country's major retailers to launch new investment projects.
According to the Ministry of Industry and Trade, national retail sales of consumer goods and services reached 25 billion euros in the past 5 months, an increase of 26.9% compared to 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 been growing rapidly, as evidenced by the number of shopping malls and supermarkets opening each year in various cities and provinces across the country.
According to forecasts, domestic retail in Vietnam by the end of the year in Vietnam there will be 850 shopping malls and supermarkets and thousands of convenience stores. At least 15 foreign retailers are present or plan to be present in Ho Chi Minh City.
Source: Vietnam News
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