Vietnam and EU seek to strengthen ties in transport infrastructure and urban development
Vietnam and the EU will enhance cooperation in transport infrastructure and sustainable urban development in the future, a meeting has heard.
Convenience stores boom: "Game" of foreign businesses
GS25, a leading convenience store chain in the Republic of Korea operated by GS Retail, has simultaneously opened its six first stores in Hanoi, marking its move to expand northward after establishing a solid foothold in southern Vietnam.
 |
| The rate of opening convenience stores and mini supermarkets in Vietnam has increased by up to 200% per year. (Photo: vnbusiness.vn) |
Present in Vietnam since January 2018, it has to date run over 200 stores, mainly in the southern region such as Ho Chi Minh City, Can Tho, Binh Duong, Ba Ria-Vung Tau, Dong Nai and Tien Giang.
At the beginning of this year, 7-Eleven, the world's largest convenience store chain, hinted at its plan to launch in the capital city of Vietnam. From its first store opened in Vietnam in 2017, there are currently around 80 7-Eleven stores in the country.
If 7-Eleven is present in Hanoi, the convenience store market will be more vibrant than ever. The capital city’s market has been for years dominated by Circle K which has attracted a large number of young people thanks to its 24/7 business model.
As one of the fastest developing among Vietnam’s modern retail types, the revenue of convenience stores is forecast to increase by 226.4 billion USD, with a compound annual growth rate of over 13% from 2023 to 2028.
A representative from the Winmart supermarket chain said that it sets a target of upgrading its existing supermarkets and opening hundreds of new WinMart+/WiN stores in various provinces and cities, with focus on new urban areas and rural areas.
Economist Vu Vinh Phu, former Deputy Director of Hanoi’s Trade Department and former Chairman of the Hanoi Supermarket Association, said that in order to operate effectively in Vietnam, these brands should make thorough preparations in terms of locations, scales and personnel.
It is necessary to grasp the continuously changing consumption trends of consumers, particularly youths, he added./.
Bài liên quan
Dành cho bạn
Đọc thêm
Warburg Pincus eyes participation in Vietnam International Finance Centre
Global private equity firm Warburg Pincus is keen on participating in the Vietnam International Finance Centre, according to a conference held on March 23.
Novatek eyes expanded LNG cooperation in Vietnam
As Vietnam races to secure its energy future and meet the demands of its surging economy, a new partnership with a Russian energy giant is taking shape, signalling a deepening of the nations' long-standing ties.
EU to mobilise over $1 billion for major infrastructure projects in Vietnam
The European Union has launched a $46.4 million Sustainable Transport Development Fund to support large-scale infrastructure projects in Vietnam, with plans to mobilise additional financing from banks and private partners.
NIC partners with TU Berlin to boost Vietnam innovation ties
The National Innovation Centre has partnered with a leading technical university in Berlin to strengthen innovation and startup linkages between Vietnam and Germany.
ACB proposes $20 million non-life insurance subsidiary
Southern lender ACB has unveiled a formal proposal to establish a non-life insurance subsidiary as part of a strategic pivot to evolve into a comprehensive financial services provider by 2030.
New regulations create more transparent corporate bond market
A new draft decree on corporate bonds seeks to enhance transparency, tighten accountability, and strengthen oversight to rebuild investor confidence, and support capital market development.
Visa launches contactless payment system across Hanoi metro network
A fully interoperable open-loop payment system has been launched across Hanoi's metro network, enabling Visa cardholders to tap and go on all metro lines in Vietnam.
