Vietnamese goods in Germany’s Dong Xuan Center Foreign retailers The Central Group Vietnam (CGVN) is part of a leading Asian retail and property group, Central Group. The CGVN presently operates over 181 stores nationwide. The Central Global Sourcing in Vietnam is one of the business units of the CGVN, in charge of purchasing domestically-produced goods and exporting them to markets such as Thailand, France, Italy, the US and Africa. Sales of Vietnamese goods by the Central Global Sourcing in Vietnam reached US$25.3 million in 2016 and were estimated to be higher in 2017 because many Vietnamese agricultural products have been successfully exported to Thailand through supermarket systems. Le Thi Mai Linh, executive vice president of the Public Relations and Corporate Social Responsibility Department at the CGVN, said the company promoted cooperation with the Ministry of Industry and Trade to organize Vietnamese goods weeks in Thailand. The events not only helped Vietnamese … [Read more...] about Vietnamese goods promotion carves out niche in foreign markets
Co op contract of sale
Rosy future for retail market
With a young population and growing purchasing power, Vietnam stands among the most attractive retail markets worldwide. In 2016, the Vietnamese retail market continued to expand and witnessed a number of mergers and acquisitions (M&A) as well as the growing presence of domestic and foreign retail giants. Major domestic retailers such as Saigon Co.Op, VinGroup and Satra are expanding their distribution networks. VinGroup has opened hundreds of mini-marts and convenience stores in urban areas nationwide and is determined to invest in distribution networks in rural and remote areas. Its goal is opening about 500 supermarkets and 5,000 convenience stores under the brand VinMart and VinMart+ within the next five years. In mid-2016, VinGroup signed cooperation contracts with nearly 250 local firms under its program to support and promote domestic production, which will offer food suppliers a zero percent discount. To build a nationwide distribution network, Saigon Co.Op is promoting the … [Read more...] about Rosy future for retail market
High rents hamper retail growth
Retail companies are racing to expand but are challenged by high rental costs in major cities. A Family Mart store in HCM City’s District 3. The high rent prices in Vietnamese cities are a hurdle to convenience stores’ expansion in the country. -VNS Photo Hoang Nguyen Nguoi Lao Dong (The Labourer) newspaper quoted a Jones Lang LaSalle Q1 report on the property market as saying that in HCM City the number of convenience stores exceeded 1,800 by the end of March. They now occupy a combined 270,000sq.m of floor space. Viet Nam is forecast to be the fastest-growing convenience store market in Asia until 2021 with a growth rate of 37.4 per cent, according to international grocery research organisation IGD. Competition between local and international players would therefore be “fierce”, it said. Foreign chains currently dominate the market with major brands like Family Mart from Japan, Circle K from the US and two Asian brands, Shop&Go and B’s … [Read more...] about High rents hamper retail growth
High rent hampers retail growth
Viet Nam News HCM CITY — Retail companies are racing to expand but are challenged by high rental costs in major cities. Người Lao Động (The Labourer) newspaper quoted a Jones Lang LaSalle Q1 report on the property market as saying that in HCM City the number of convenience stores exceeded 1,800 by the end of March. They now occupy a combined 270,000sq.m of floor space. Việt Nam is forecast to be the fastest-growing convenience store market in Asia until 2021 with a growth rate of 37.4 per cent, according to international grocery research organisation IGD. Competition between local and international players would therefore be “fierce”, it said. Foreign chains currently dominate the market with major brands like Family Mart from Japan, Circle K from the US and two Asian brands, Shop&Go and B’s mart, making up 70 per cent of all convenience stores. GS25, a South Korean chain, recently entered the market and targets opening … [Read more...] about High rent hampers retail growth
Vietnamese economy sees slower Q1 growth
HÀ NỘI - Việt Nam posted a year-on-year GDP growth of 5.1 per cent in the first quarter of 2017, slower than the previous two years at 5.48 and 6.12 per cent, respectively. Nguyễn Bích Lâm, head of the General Statistics Office of Việt Nam (GSO), said at a press briefing yesterday that one of the main reasons for the contraction was the slow growth of agriculture, forestry and aquaculture. He said this sector grew 2.03 per cent in the first quarter, higher than the same period in 2016, but still recording the second lowest growth rate since 2011. The sector contributed just 0.24 per cent to national GDP growth, he added. The agriculture sector was hit by repeated natural disasters like flooding in the central region, severe drought in the Central Highlands and saltwater intrusion in the south, Lâm noted. The slowdown could also be attributed to negative impacts of a global economy that was still recovering, with attendant uncertainties in financial flows, the rising US dollar, … [Read more...] about Vietnamese economy sees slower Q1 growth