Metro to Build Second Supermarket in Hanoi This July

Metro to Build Second Supermarket in Hanoi This July

German’s Metro Cash & Carry Group, the world's fifth-largest trading company, will start building a new wholesale center in Hanoi by the end of July this year, said Hanoi’s vice chairman Nguyen The Quang after he had talks with the company.

This will be the second wholesale "Cash and Carry" store in Hanoi, which will help develop the trade system in the city, Quang said.

The project will be located on an area of 2.7 hectares next to the Yen So Park in Hoang Mai District.

Besides selling goods, the new center will set up a division for purchasing goods and a warehouse for the north region to help meet increasing consumer demand.

The investment capital for the project has not been revealed.

The first Metro in the city, positioned in Tu Liem District’s Co Nhue, was built with total investment of US$15 million. It has created 300 jobs for local people and generated VND770 billion (US$49 million) in revenues last year.

This year, Metro Cash & Carry Vietnam plans to build two wholesale centers, the aforementioned one in Hanoi and another in northern Hai Phong City.

Metro Group was licensed in 2002 to invest US$120 million in building eight wholesale centers in Vietnam. So far, four of the centers, costing US$60 million, have been built, including one in Hanoi, two in Ho Chi Minh City and one in Can Tho City.

New Hanoi