International Retailers Eye Vietnam's Fast-Growing Retail Market

Vietnam’s retail market is growing fast, with international retailers seeking to expand into the country. According to a report by Inside Retail Asia, the country is about to see a boom in the convenience store segment, with local retailer Vinmart operating almost 700 locations and opening new stores at the rate of two each day. South Korean supermarket chain Lott Mart plans to open 60 stores by 2020, while rival Emart has opened its first hypermarket, with more planned. Faced with growing foreign competition, the Association of Vietnam Retailers is calling for government support for its members to be better able to compete.