Retail market attracts huge foreign investment

Solid numbers: A salesperson handles fabric at Dong Xuan market in Hanoi. In the first two months of this year, Vietnam’s retail sales of consumer goods and services grew 13% over the same period in 2022 to US$42.2bil (RM187bil). — Bloomberg

HANOI: Vietnam is becoming an attractive retail market for companies from all over the world, with many recent regional and global foreign direct investments (FDIs) announcing plans to increase capital and expand distribution networks here.

According to the Industry and Trade Ministry, the Vietnamese retail market is worth US$142bil (RM628bil) and is expected to increase nearly 2.5 times to US$350bil (RM1.5 trillion) by 2025.