Magazines Archives - 2007 April

Vietnam to modernise in hopes of generating higher retail sales
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VIETNAM has announced aggressive plans to revamp its retail market in a bid to entice shoppers to spend more,especially in the supermarkets.

According to local reports,Prime Minister Nguyen Tan Dung has approved a plan to make the state’s commercial markets more modern. The Ministry of Trade is projecting that the modern sales systems in place under the programme will generate up to 20% of total retail sales by 2010, and 40% by 2020.

Although the target is seen as ambitious, with current modern systems accounting for only 5%-6% of overall sales, the government is positive that modernisation will help build a strong and stable domestic economy, and has forecast revenues of VND160 trillion (US$10.4 billion) in 2010 and VND800 trillion in 2020 from the segment.

The new plan, which includes the modernisation of infrastructure around trade centres, supermarkets, industrial zones and border areas, is expected to register an 11% annual sales growth until 2010, the local media reported.

The government is also confident that domestic trade will form 14.5% of Vietnam’s GDP in three years, and reach 15% by 2020. It also plans to develop conglomerates strong enough to compete with foreign companies as the country opens its doors to the world economy,said local reports.


2007 April Stories:

Developing economies spearhead retail sales growth in the region

Seiyu expects to recover from the red with gains

Tangs to make regional forays, beginning with KL

Vietnam to modernise in hopes of generating higher retail sales

Metro to build largest store in China

Daimaru’s purchase of Matsuzakaya will create largest Japanese store chain

Shoppers’ Stop to buy 19% of HyperCity

FJ Benjamin acquires exclusive rights to retail Celine in South-east Asia

edc takes first bow outside Europe in S’pore

Li & Fung buys Tommy Hilfiger’s sourcing operations

Sweden’s H&M opens in Asia

Landmark embarks on growth path in Kolkata

China sees fastest sales rise in 2 years

Aeon buys a stake in flagging Daiei

7-Eleven cash exchange round the clock

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