Central Retail to expand business in Vietnam
Hanoi (VNA) - The Thailand-based Central Retail Corporation Public Company Limited
(CRC) plans to spend as much as 35 billion THB (1.1 billion USD) on expanding its
network in Vietnam over the next five years.
The retail
conglomerate aims to expand its reach to 55 cities and provinces across the
country.
It said Vietnam’s
service sector grew 2.34 percent in the last quarter of 2020 and contributed
33.5 percent to the national economy, with wholesale and retail taking the
lead, up 7 percent.
The sector is
expected to grow robustly this year, making Vietnam one of the fastest-growing
and most attractive markets in the world.
Philippe
Broianigo, CEO of the Central Retail Vietnam, said the five-year plan will
focus on multi-sector and multi-platform development to increase its presence
in Vietnam’s rural and urban areas.
The group opened
four shopping centres last year in the Mekong Delta provinces of Tra Vinh and
Ben Tre, central Quang Ngai province, and the Central Highlands province of Dak
Lak, while renaming five Big C supermarkets in Vietnam as “GO!”.
It plans expansions
worth about 6.6 billion THB (211 million USD) this year and will open shopping
centres in the provinces of Thai Nguyen, Thai Binh, and Lao Cai in the north
and Ba Ria-Vung Tau and Tay Ninh in the southern region.
After nine years
in Vietnam, foodstuffs have proven to be a key sector for Central Retail, contributing
70 percent to total revenues.
The group has set
a target of promoting its development in Vietnam’s retail sector and rolling
out suitable and flexible business methods towards sustainable development.
With 37 shopping centres
and 230 stores in 37 cities and provinces, it serves an average of 175,000 customers
each day in Vietnam./.