Lotte Mart Plans to Invest US$5 Bln to Build 30 Supermarkets in Vietnam
Dao Thi Thanh Van, vice general director Lotte Vietnam, was quoted by the state-run Tuoi Tre newspaper as saying Lotte Mart will invest US$75 million to build the first supermarket on an area of 16,000 square meters in south of Saigon, District 7.
“Lotte Mart will construct at least four supermarkets in Ho Chi Minh City and ten others in Hanoi, Haiphong, Danang and Can Tho provinces in coming years,” Van said.
“Wholesales and retailing will be combined for farm produces, processed seafood products to meet quality standards of South Korea,” Van added.
Le Danh Vinh, Deputy Minister of Industry and Trade has said that Vietnam will not open retail market for petroleum products, pharmaceuticals, books and newspapers from Jan 1 next year.
Vietnam with a population of more than 80 million is forecast made retail sales of goods and services of VND872.56 trillion (US$54.53 billion) in Jan-Nov, up 30.9 per cent on year, state media said. (Youth, Young People)
