Five leading retail groups to be formed in Ho Chi Minh city

Under the scheme, the average growth rate of total retail sales and service revenue will reach from 8.55% to 11.53% a year by 2020; from 10.89% to 14.02% for 2021-2025; and from 6.82% to 9.06% for 2026-2030.

Ms. Nguyen Huynh Trang, Deputy Director of the Department of Industry and Trade, said the city will focus on encouraging enterprises to invest in modern store chains and convenient stores to serve the daily demand of people in the suburbs, industrial parks, processing zones, and newly-built apartment blocks to replace spontaneous business locations.

The hub plans to increase retail sales at trade centers and supermarkets to at least 40% by 2020, 50% by 2025 and 60% by 2030. Specifically, for the 2025-2030 period, a minimum of five nation's leading retail groups will be formed.

In addition, it will build and realize a plan of developing the system of markets, supermarkets and trade centers from now to 2020, on the basis of balancing the demand of development and the feasibility of each project.

The network of logistics centers will provide goods for the distribution system in the inner city and develop logistics centers for goods shipment between Ho Chi Minh city and other localities./.