Thai conglomerate plans to transform mom-and-pop stores in Vietnam to modern retailers
Thai conglomerate plans to transform mom-and-pop stores in Vietnam to modern retailers
BJC BigC Group, the parent company of the MM Mega Market Vietnam supermarket chain, aims to modernize traditional mom-and-pop stores as part of its expansion strategy in the Vietnamese retail market.
Leaders of Ho Chi Minh City present souvenirs to Thai investor BJC BigC Group, March 15, 2024. Photo: H.K / Tuoi Tre |
Representatives from the Thai multinational corporation unveiled their investment and expansion blueprints for the Vietnamese market in the upcoming years during a meeting with Nguyen Van Dung, deputy chairman of the Ho Chi Minh City People’s Committee, on Friday.
Aswin Techajareonvikul, chief executive officer and president of of BJC BigC Group, disclosed that the group has earmarked over US$1 billion for long-term investments in various sectors including packaging, consumer goods, healthcare, engineering, and retail subsidiaries in Vietnam.
Regarding their retail market strategy, the group intends to bolster investments to amplify the growth of shopping centers and MM Mega Market Vietnam.
It aims to establish joint ventures or franchises with state-owned enterprises and retailers.
The firm plans to leverage its successful ‘Gia Tot’ (Good Price) program in Vietnam, known as the Donjai program in Thailand, to collaborate with the Vietnamese government and the Ho Chi Minh City administration in modernizing traditional mom-and-pop stores into contemporary retail models.
The enterprise also seeks to collaborate with local authorities on market stabilization initiatives, including innovative programs to tackle inflation and encourage responsible consumer behavior.
In response, deputy chairman Nguyen Van Dung expressed the city’s commitment to supporting the group’s investment endeavors.
He pledged that relevant departments would collaborate closely with MM Mega Market Vietnam to facilitate its business operations, with a focus on fostering sustainable development.
Presently, MM Mega Market Vietnam operates 21 wholesale centers and supermarkets, along with five supply stations and two transit warehouses in Vietnam.
