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Vingroup announces plan to buy supermarket chain

Vingroup has announced it will buy a 100 percent stake in supermarket chain Maximark of Ho Chi Minh City-based An Phong Joint Investment Joint Stock Company.

The move is part of the groups plan to increase its presence in the retail sector as more foreign retailers begin to enter the Vietnamese market.

With this acquisition, Vingroup will own nine Maximark outlets and other properties which previously belonged to An Phong.

(Source: Viet Nam News)