VN retail boosted by foreign support
VN retail boosted by foreign support
Viet Nam's retail sector, with help from foreign retail distributors, has initially shown a change for the better.
The total retail sales of goods and services in 2011 reached over VND2 trillion (US$90 billion), a year-on-year increase of 24.2 per cent despite economic downturn.
At present, there are 650 supermarkets in 59 out of the 63 provinces and cities across the country and 117 shopping centres in 32 provinces and cities.
The number of newly-established supermarkets and shopping centres after five years of joining the World Trade Organisations (WTO) in 2007 has surged by an average of 20 per cent and 72 per cent compared to the 2002-06 period, respectively.
In addition, thousands of speciality shops and convenience stores have joined the chain nationwide. The country's retail industry has improved its position in the national economy with a contribution of over 14 per cent of GDP and employment.
vietnamnews
