GO! Yên Bái launched, elevating modern trade in northern region

GO! Yên Bái launched, elevating modern trade in northern region

With an investment of VN164 billion (US$6.2 million), the project represents another step in the company’s strategy to expand modern retail infrastructure across Việt Nam.

Delegates at the opening ceremony on Wednesday morning. — VNS Photo Ly Ly Cao

Central Retail Vietnam has opened the doors to its latest commercial complex, GO! Yên Bái, marking the group’s 44th retail centre nationwide and its second in Lào Cai Province — a move signalling the company’s continued push into Việt Nam’s expanding modern retail landscape.

With an investment of VNĐ164 billion (US$6.2 million) and covering 13,000 square metres, the project underscores Central Retail’s strategy to strengthen infrastructure and stimulate economic growth through large-scale, multi-purpose developments.

At the opening ceremony, Olivier Langlet, CEO of Central Retail Vietnam, said the complex was built under the 'one-stop destination' model, combining shopping, dining, education, entertainment and sustainability.

The hub includes more than 20 well-known domestic and international brands such as Dookki, Jollibee, Mixue, Bít Tết Hương Việt, Funny Games and White Rabbit, aiming to provide a modern retail and leisure experience for residents of Yên Bái and nearby areas.

"GO! Yên Bái is more than a retail project. It brings practical economic and social value by creating over 300 direct jobs and offering new opportunities for cooperation with local businesses and suppliers," Langlet said.

"We are also proud to introduce Lào Cai’s specialities and OCOP products such as Đại Minh pomelos, Mường Khương chilli sauce, Séng Cù rice, Giới Phiên vermicelli and Hoàng Liên apple cider into our modern distribution system, helping these products reach millions of consumers nationwide."

Secretary of the Provincial Party Committee and chairman of the People’s Council of Lào Cai Province Trịnh Xuân Trường hailed the launch as a milestone in the province’s socio-economic development.

The complex is expected to stimulate consumption, boost service revenues and contribute to the modernisation of the province’s commercial sector, while creating employment opportunities for local residents.

Delegates at the opening ceremony on Wednesday morning. — VNS Photo Ly Ly Cao

Director General of the Agency for Domestic Market Surveillance and Development under the Ministry of Industry and Trade (MoIT) Trần Hữu Linh highlighted the importance of expanding retail infrastructure as part of the Government's domestic market strategy.

In recent years, many mountainous provinces have developed shopping centres, supermarkets and convenience stores, with the One Commune One Product (OCOP) programme connecting local specialities to consumers.

However, infrastructure remains limited: traditional markets are deteriorating and there is a lack of wholesale markets and storage facilities. Poor transportation increases shipping costs and reduces the competitiveness of goods.

He welcomed Central Retail's swift investment in Yên Bái, a locality that was recently merged into Lào Cai Province.

"Developing a synchronised retail system, from malls to supermarkets and convenience stores, not only enhances product quality but also supports local producers and businesses," Linh said.

He added that bringing regional specialities into modern trade would ensure quality standards and open doors for national and international distribution.

He also acknowledged Central Retail’s strong commitment to Vietnamese products, noting that 95 per cent of the goods sold at its centres are domestically produced.

"We hope Central Retail will continue to affirm its role as a leading retailer in Vietnam and support the growth of local enterprises while increasing the value of Vietnamese products," he said. 

Bizhub