Vietnam’s retail market attracts foreign investors
(VOVWORLD) - Vietnam ranks high globally in potential for retail growth and attractiveness for retail investment, thanks to a huge, young population and household spending that grew 10% to 714 USD in 2020.
A wide variety of farm produce is sold at supermarkets. (Photo: VNA) |
The size of the market is 108 billion USD, and it is forecast to grow at 7.3 percent a year over the next five years, according to McKinsey&Company report in September 2019.
Recent studies show that Vietnam, with a high rate of smart device use, is seeing its retail market expand through rapid e-commerce growth. Political stability, an open and steadily growing economy, and effective coronavirus containment have made Vietnam an attractive investment destination. According to analysts, Vietnam has in hand a golden opportunity for massive FDI inflow that will strongly benefit its retail market.