Wednesday, 07/06/2017 06:35 (GMT+7)
Vietnam has jumped 5 grades to sixth place on the 2017 Global Retail Development Index (GRDI), which is conducted annually and published by the US’s consulting firm A.T. Kearney.
Photo for illustration
This year, Vietnam only followed big markets such as India, China, Malaysia, Turkey and the United Arab Emirates. The country surpassed populous market like Indonesia (8
th) and famous retail markets like Thailand (30
th), the Philippines (18
th), Kazakhstan (16
th), and Saudi Arabia (11
th).
This proves that the domestic retail market is becoming attractive to foreign investors, because Vietnam slid out of the GRDI in 2012 while it even topped the list in 2008, ranked 6th in 2009, 14th in 2010 and 23rd in 2011.
“Vietnam moves ahead and is emerging as an important market for retail expansion with its liberalized investment laws,” said A.T. Kearney.
According to the firm, a recent free trade agreement signed with the EU is expected to further speed up investment in the country.
The 2017 GRDI, titled “The Age of Focus,” names India as the top developing country for retail investment.
“India’s strong GDP growth and growing middle class coupled with a more favourable regulatory environment over the past few years have played significant roles in attaining this ranking,” finds the study.
China was ranked in second place. Despite its slower overall economic growth, the market’s size and the continued evolution of retail still make China one of the most attractive markets for retail investment.
The GRDI ranks the top 30 developing countries for retail investment worldwide. The Index analyzes 25 macroeconomic and retail-specific variables to help retailers devise successful global strategies to identify emerging market investment opportunities./.
BTA