Viet Nam has targeted to increase the percentage of modern retail channels to 45 per cent by 2020. By the end of last year, the country had 130 commercial centres, 700 supermarkets and more than 1,000 self-service stores.
Many famous foreign brand names now have a presence in the country such as Big C, Metro and Lotte.
Last week, Singapore NTUC Fair Price Co-operative Limited (FairPrice), which accounts for 57 per cent of the Singapore retail market, announced a joint venture with Sai Gon Co.op to create a new chain of hypermarkets named Co.opXtraplus with total investment of VND200 billion. It plans to expand nationwide.
Read the full article here at Vietnam news: http://vietnamnews.vn/economy/239597/foreign-brands-set-bar-high.html