Hiway launches new capital superstore
Hiway launches new capital superstore
Local company Hiway Vietnam launched its second supermarket in Hanoi last week after its first, the Ha Dong Hiway Supercenter, launched in October last year.
Nguyen Bao Loc, deputy director of Hiway Vietnam, said the expansive Ngoc Khanh Hiway Supercenter was a modest addition to Hanoi’s Ba Dinh district.
The company is a joint venture between the Son Ha Group and strategic shareholders. Son Ha put $45 million into the complex.
Hiway Vietnam is expected to open one more store in Hanoi in the near future, the Tu Liem Hiway Supercenter.
Although it entered Vietnam later than some competitors, Loc said they are confident that there is plenty of room for new investors, adding “We clearly see that current supermarkets and other facilities are not meeting market demand.”
Hiway stores are located on main traffic routes and feature food courts, fashion and game centres along with their more traditional supermarket facilities.
From now through 2016, Hiway plans to open 20 more retail supercenters throughout the capital and country.
Dinh Thi My Loan, general secretary of the Vietnam Retail Association, said the participation of foreign retailers has changd Vietnam’s retail industry and brought more competition that will ultimately benefit consumers.
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