8:58:50 AM | 20/10/2008
Four Vietnamese retailers have been listed in the 2008 Retail Asia-Pacific Top 500 co-rated by Retail Asia Magazine - a regional trade magazine, Euromonitor - a market information supplier, and KPMG - the world renowned financial consultants and auditors, local media reported.
Among the four, Ho Chi Minh City Commercial Cooperative Union (Saigon Co.op), Vietnam’s leading chain store operator and the owner of Co-op Mart chain, wins gold award, the fourth to date.
Meanwhile, the Saigon Jewelry Holding Company (SJC) and the Saigon-Nguyen Kim Shopping Center get the silver and the bronze, respectively, the awarding ceremony held in China’s special administrative region of Macau October 16 was told.
The award covers seven retail formats – convenience stores, department stores, health & beauty specialists, hypermarkets, specialty outlets, supermarkets, and other retailers from 14 economies – Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Taiwan, and Vietnam.
Recently, Retail Asia Magazine has called Vietnam’s retail market a “rising star” in the region. Meanwhile, the US consultancy firm A.T Kearney said Vietnam has replaced India to become the world’s most attractive retail market. The market will experience a further boom as of January 2009, when Vietnam fully opens its retail market in accordance with WTO requirements, the firm predicted.
The Vietnamese Ministry of Industry and Trade has forecast total retail sales revenues will likely jump 20.5 per cent on year to VND975 trillion (US$54.3 billion) and will account for 15 per cent of the country’s GDP value this year. (VNA, Vietnam Economic Times)
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