Photo: VietNamNet

(VOVworld)- In its August 26 issue, Thailand’s “Nation” newspaper said Thai and Japanese firms have realized the potential in the Vietnamese market. Retail business group Berli Jucket’s Vice President Phidsanu Pongwatana, said that compared to Thailand, which has fierce competition in price, Vietnam is seen as a potential market for the retail industry. In its development plan, Berli Jucket will open 100 additional “B’s mart” stores next year and 300 more in Hanoi and other big cities by 2015. Thailand's leading shopping mall developer, Central Pattana (CPN), is negotiating with a Vietnamese partner to develop its first shopping complex in Vietnam. Traditional markets still dominate ASEAN but modern retailers are quickly expanding their market. Vietnam has a potential for retail markets to grow. The convenience store industry in the Asia-Pacific region is growing at rate of 12-15% while Vietnam’s annual consumer goods growth is estimated to be around 23%.