In early 2012, the two largest Japanese department store chains, Takashimaya Corporation and Aeon Corporation,announced their big projects at the Vietnam’s market.
In early March 2012, Aeon Corporation proclaimed its project to build the Aeon-Tan Phu Celadon shopping center in Ho Chi Minh City with the total investment of US $109 million.
Germany’s Metro Group opened eight shopping centers across Vietnam. In April this year, Metro Group planned to build a new market in An Giang Province.
Big C Supercenter also prepares to open its 9th supermarket in Hue city, Thua Thien Hue Province.
Lotte Mart also intends to set up its 2nd market in Ho Chi Minh City in the near future.
High double digit revenue in retail market
According to the US-based A.T.Kearney Global Management Consultants, Vietnam is the most attractive retail market in the world in 2008. In 2009, the retail industry also posted the highest growth rate in Vietnam (12%).
The Ministry of Industry and Trade said the total retail revenue in 2011 reached VND 1,994 billion, up 29.3% against the previous year and contributed to 15-16% of the national gross domestic product (GDP).
Experts believed the Vietnam’s retail market would be US $113 billion in 2012.
From now to 2014, the revenue for the Vietnam’s retail industry is forecast to increase around 23% per year.
In the most recent report on Vietnam’s retail market on Research and Markets, Vietnam is one of five most profitable retail markets in the world.
General Director of Dream Incubator Vietnam Shinichiro Hori revealed that Japanese investors are interested in Vietnam’s market. Thanks to young population, improvement in income and habits similar to Japanese, Vietnam’s retail market is the attractive destination for Japanese businesses.
By Thuy Dung