AEON Mall Long Bien. (Photo: aeonmall-long-bien.com.vn)
Hanoi (VNA) - A recent flurry of foreign retailer activity�� has raised 🌳an alarm among domestic peers.
Under commitments to the World Trade Organisation, Vietnam opened its retail market in 2009. The sector has witnessed waves of international capital ever since with big names such as Metro Cash&Carry, Big C and Lotte.
Most recently, French retailer Auchan is schedule to sign a lease on the MIPEC Long Bien Shopping Mall on November 3, paving the way for the conglomerate to gain a foothold in the Hanoi market.
As such, Auchan’s Simply Mart, covering 3,700 square metres, will become operational in 2016, supplying up to 4,500 household articles. It will open in conjunction with the MIPEC Riverside project, where the mall is located.
By 2020 there will be 20 Simply Marts across the north, said CEO Gilbert Infantes, a member of Auchan’s executive board.
In the south, the firm has worked with local C.T Group to develop the S-Mart chain and is preparing to expand its Simply Mart empire in 2016.
A week earlier, Japanese retailer Aeon also opened a 120,000-square-metre mall in Long Bien after the successful operation of similar supermarkets in Ho Chi Minh City and southern Binh Duong province.
Aeon Chairman Yukio Konishi said the company aimed to build about 20 malls in Vietnam, investing approximately 1 billion USD in the country.
Meanwhile, in July, US-based Seven Eleven Inc., a subsidiary of the Japanese retail conglomerate Seven & I Holdings, signed a contract with IFB Vietnam, owner of the Pizza Hut restaurant chain in Vietnam, to open its first store in Ho Chi Minh City. The number of the establishments is set to reach 100 after three years and 1,000 after 10 years.
The Ministry of Planning and Investment said in a recent report that most Vietnamese businesses engaging in the retail market were small and had low competitiveness. They were facing high risks of being taken over by foreign peers.
Thai Berli Jucker Corporation (BJC) acquired Phu Thai Group and its Family Mart in 2013, while Aeon owns shares in two renowned domestic chains - Citimart and Fivimart.
Vingroup, however, is taking the lead in expanding shares in the home market with 125 stores and 12 shopping centres as of October. The group intends to put 40 malls into operation in 2016 and 100 in 2020. Other healthy local retailers include Co.op Mart and Fivimart.-VNA
The country's total retail sales and services revenue reached 110 billion USD, rising 9.8 percent over the same period last year, or 9.1 percent, if inflation is excluded.
Base salaries at foreign companies and Vietnamese companies show a marked difference, a survey conducted by human resources firm Mercer and its partner Talentnet Corporation has found.
The retail market in Vietnam has recently witnessed a boom in development of mini marts and convenience stores with participation of not only domestic firms but also foreign giants.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
AEON Mall Long Bien. (Photo: aeonmall-long-bien.com.vn)
