Vietnams First Intl Retail & Distribution Fair to Open in Late August

The Vietnam Retailer Association and the National Committee for International Economic Cooperation will co-organize an international retail and distribution fair from Aug 28 to Sept 3 in Hanoi, said Vu Vinh Phu, representative of the association.

 

This will be the first of its kind to be held in the country, aiming to promoting images of Vietnam’s distributors and retailers to foreign partners, Phu said.

 

With a population of 86.5 million, ranking 13th worldwide, Vietnam has become the most attractive emerging market for retail investment, lifting from the fourth in 2007, said the 2008 Global Retail Development Index (GRDI), an annual study conducted by AT Kearney of retail investment attractiveness among 30 emerging markets.

 

Vietnamese consumers are among the youngest in Asia, with 79 million under 65, and increased their consumer spending by more than 75 per cent during the 2000-2007 period, the study noted.

 

Vietnam has great retail market potential with strong competitors such as giant distribution groups like BigC, Metro Cash & Carry, Parkson, Co.op Mart and MaxiMark.

 

Competition among retailers is forecast to be fiercer after January 1, 2009 when the country completely opens its distribution market for foreign partners in compliance to the WTO commitments.

 

Vietnam’s total retail sales of goods and services are estimated at VND527.5 trillion (US$33 billion) in the first seven months of 2008, representing a growth of 30 per cent on year, the GSO reported July 28. (Investment)