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WTO membership unlock opportunities for foreign retailers

30
Jan '07
Trade restrictions on Vietnam were eased with its WTO accession on January 11, and foreign companies found business prospects in the country.

The Metro Cash & Carry from Germany is planning to open four more outlets with the investment of US $17 million for each one.

The company is already operating with its six outlets and has annual revenues of $259.5 million.

Metro Group Buying (MGB) has established a procurement office in HCMC, which will distribute textile, garment, footwear, furniture globally through Metro's network in 28 countries.

Another player from Malaysia Parkson retail group, plans to open 10 commercial stores in Hanoi, Danang, Can Tho, and Ba Ria-Vung Tau with an investment of about $70 million.

The group has recently opened its second outlet in Hai Phong.

Vindemia the leading European retail group will open superstore in Danang during this year.


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