Vietnam Remains Attractive Investment Destination
Vietnam is still an attractive destination for investors despite the current world economic crisis, according to the Website “Research and Markets”, the world’s leading source for international market research and market data.
In its latest “Vietnam Food and Drink Report” released on June 26, the website said Vietnam’s outlook appeared promising in spite of the impacts of the worldwide economic slow down.
The Vietnamese economy is expected to recover more quickly than other Asian nations in 2009 and 2010 and is expected to return to rapid growth by 2011 from the forecasts of 2.9 per cent real GDP growth of this year.
The report indicated that the local retail market developed well in the second quarter of this year, adding that the canned food retail market would see an impressive growth of 81.7 per cent by 2013.
The website also said that, the Asian Development Bank (ADB) has pledged to provide a loan of US$95 million for Vietnam’s food-processing sector. The money will be used to improve the sector’s health, safety and quality requirements.
Both local and foreign retailers are expanding operations in Vietnam, according to the report.
Japanese retailer FamilyMart announced in April that it would open its first Vietnamese outlet in HCM City in September this year, in cooperation with local distributor Phu Thai Group.
Meanwhile, Saigon Co-op disclosed its plan to expand its supermarket chain from 35 stores to nearly 50 by later this year. (Vietnam & World Economy, VNS)
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