Wal-Mart Will not Enter Vietnam, Metro Cash & Carry CEO Says

The U.S. leading Wal-Mart group will unlikely enter Vietnam unlike many Vietnamese guessing, Chief Executive Officer of Metro Cash & Carry Vietnam, Randy Guttery who used to work for Wal-Mart before has just assured.

 

Opening the retail market [Vietnam will do in early 2009 under its WTO commitments], will benefit local consumers and businesses, however, it is wise to open the market door in accordance with the current infrastructure networks and the size of the economic, Randy Guttery is cited by the Saigon Economic Times as warning.

 

“Vietnam should take into consideration impacts of a giant supermarket on transportation systems and other problems,” the CEO of Metro Cash & Carry Vietnam said.

 

Wal-Mart will only enter one market that ensures to bring a total revenues of US$700 million, the Vietnamese market does not have such a rapid growth rate, he noted.

 

Randy Guttery also added that Metro Cash & Carry Vietnam will open an additional two outlets in suburban areas.

 

Competition among retailers in Vietnam will become fiercer with participation of Tesco and Diary Farm, he predicted. (Saigon Economic Times, cafef.channelvn.net)