VN’s retail market shows positive points

VGP - Việt Nam has become one of five most lucrative retail markets in the world, according to the newest report released by the Research and Markets website.

April 09, 2012 6:48 PM GMT+7

In its " Việt Nam Retail Market Forecast to 2014", Research and Markets revealed that retail networks will make crucial contribution to the country’s consumption market in the future.

According to the report released on April 5 by Savills Việt Nam, at the end of the first quarter of 2012, the total area reserved for retail sale activities in Hà Nội reached nearly 660,000 sq. m square, up 50% compared to the same period last year.

In the next three years, the capital will have around 1.6 million sq. m for retail activities from 90 projects.

The growth rate of Việt Nam’s consumption market is higher than other countries in the region, as stated in the Taylor Nelson Sofres research. From now to 2014, Việt Nam’s retail revenue will increase 23% per year.

Professionals estimated that the country’s retail market can attain US $113 billion in 2012.

According to the Ministry of Industry and Trade (MIT), the total retail revenue in 2011 reached nearly VND 2 trillion or approximately US $90 billion, an increase of 29.3% in comparison with the previous years, contributing 15-16% of the Gross Domestic Products (GDP).

By Thùy Dung