German's Metro AG Plans Second Supermarket in Hanoi

German's Metro AG Plans Second Supermarket in Hanoi

Germany's international trade and retail group, Metro AG, plans to open its second wholesale center in Hanoi this year, according to Metro Cash & Carry Vietnam Co., Ltd.

The second center is scheduled to open next to the Yen So Park in Hoang Mai District, said a corporate official at a meeting with Hanoi authorities last Thursday.

Besides selling goods, the new center will set up a division for purchasing goods and a warehouse for the north region to help meet the increasing consumer demand, said the official.

Meanwhile, Hanoi authorities will create favorable conditions for Metro to further invest and expand operations in the city.

In other news, Metro will shortly begin construction of a wholesale center in Haiphong City. It also plans to build more centers in Ho Chi Minh City and Danang City this year.

Metro Cash & Carry's wholesale centers in Vietnam secured total turnover of US$412,000 per day during the Lunar New Year Festival in early February.

Metro was licensed in 2002 to invest US$120 million in building eight wholesale centers in Vietnam. So far, four of the centers have been built, including one in Hanoi, two in Ho Chi Minh City and one in Can Tho City.

•  VNS