The global management consulting firm A.T. Kearney said he reason why Vietnam is in the Top 6 is that its investment laws are open and promote its attraction among foreign retailers.

 The government has permitted foreign retailers to own 100 per cent of capital in the country’s retail sector and has adopted priority policies to attract them.

This is reflected in a 12.5 per cent increase in foreign investment in 2016. The recent free trade agreement signed with the EU is expected to push investment even higher.

Retail sales have also increased significantly in recent times, reaching $118 billion in 2016, up 10.2 per cent against 2015.

According to forecasts to 2020, modern retail channels will increase up to 45 per cent, the country will have about 1,200-1,300 supermarkets, the number of trade centers will also increase to over 300, and convenience stores will number in the thousands.-VNA