There have been additional two big supermarkets, namely Co.opMart and Metro Cash & Carry, put into operation in Binh Duong province since September, said provincial Department of Industry and Trade (DoIT). As surveyed, the two units have achieved initial positive results.
Also according to provincial DoIT, Binh Duong is now a destination for wholesale and retail businesses. Particularly, total retail sales of commodities in the province was recorded at VND33.29trillion in 2009 and VND44.13trillion in 2010 with the annual growth rate of 30%. The province has so far lured a lot of big wholesale and retail brand names at home and abroad, including Co.op Mart, Fivi Mart, Citi Mart, Bd Mart, Metro Cash & Carry…Besides, many big groups, namely France’s Vinci construction, South Korea’s Lotte…, are now interested in the province.
Bui Hanh Thu, Deputy General Director of Saigon Co.op Mart said that Binh Duong is a locality with good investment environment for the development of supermarkets and plazas. At a recent meeting with provincial leaders, Hong Pyong Gyu, General Director of Lotte Vietnam Co.Ltd. said that Lotte has highly appreciated the position of Binh Duong and this will be also a locality that Lotte will give priority to making investment in its strategy of developing a network of 50 marts in Vietnam. Lotte will quickly select the place for investing and building Lotte Mart Binh Duong in TDM town, which is expected to put into operation in the next year.
Provincial DoIT said that making the investment of wholesale and retail businesses in the province has contributed to perfecting the local trade infrastructure, raising total retail sales of commodities and stimulating consumption demand. Their investment has also met the local resident’s demand for essential commodities on Tet and great holidays, contributing to stabilizing prices.
Such these apart, their investment will stimulate goods manufacture, promoting the development of other industries. According to Hong Pyong Gyu, General Director of Lotte Vietnam Co.Ltd., the investment of Lotte in Binh Duong will promote production development and generate jobs for many laborers. Up to 96% of products at Lotte marts in Vietnam are domestically-manufactured ones and there are 1,000 domestic producers.
Possibly speaking, many wholesale and retail businesses are now interested in Binh Duong’s investment climate. Le Thanh Cung, permanent Vice-Chairman of provincial People’s Committee said that with many advantages, Binh Duong is an attractive destination for investors in field of trade.
Reported by Trong Minh-Translated by K.T
