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Vietnamese businesses among top 500 Asia-Pacific retailers
The Ho Chi Minh City Trade Cooperative Union (Saigon Co-op) won a gold award in a list of the top 500 retailers in the Asia-Pacific region.
The Saigon Jewelry Holding Company and Saigon-Nguyen Kim Trading Centre were given silver and bronze prizes respectively, at the awards ceremony held in China ’s special administrative region of Macau on Oct. 16.
Being included in the “Retail Asia-Pacific top 500” list is a criterion reaffirming the quality of service and prestige of the Saigon-Nguyen Kim Trading Centre in particular and Vietnamese retailers as a whole, the centre’s Marketing Director Pham Linh Phuong said.
The top 500 outstanding retailers among the Asia-Pacific region’s 14 economic members were rated by Retail Asia Magazine, in conjunction with Euromonitor, a market information supplier and KPMG, the world renowned financial consultants and auditors.
Retail Asia Magazine called Vietnam ’s retail market a “rising star” in the region. Meanwhile, the US consultancy firm A.T Kearney said Vietnam has replaced India to become the world’s most attractive retail market. The market will experience a further boom as of January 2009, when Vietnam fully opens its retail market in accordance with WTO requirements, the firm predicted.
According to the General Statistics Office, Vietnam earned 45.5 billion USD in total retail revenue during 2007, and this figure is expected to reach 53 billion USD in 2010, with an annual growth rate of 20 percent.
VNA
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