Retail in Asia

In Markets

Vietnam a rising Asian retail market

Vietnam is on the way to becoming one of the most developed retail markets in Asia, a seminar heard on Wednesday in Hanoi.

The Vietnam Retailers Association (VRA) organised the Vietnam Retail Forum 2015 with the theme of "Shopping centres and their development roadmap in Vietnam". The event brought together officials, retail experts, domestic retailers as well as foreign retail firms.

According to Duong Duy Hung, Deputy Director General of the Ministry of Industry and Trade (MOIT)’s Domestic Market Department, total final consumption expenditure accounted for 70 percent of Vietnam’s gross domestic product (GDP), of which 90 percent is household consumption expenditure. Hung added that the modern retail market is increasing its role as an engine of Vietnam’s retail sector’s growth.

(Source: Viet Nam News)