Vietnam to reach US$85 billion in retail sales by 2012

According to US market research consultants RNCOS, Vietnam has become an attractive destination for multinational retailers.

Despite its retail market scale being smaller than other developing economies in Asia, the rapid growth in Vietnam’s retail market has recently led to an increase in its retail turnover from US$23.7 billion in 2008 to nearly US$39 billion in 2009.

Thanks to the Vietnamese Government’s efforts to allow foreign firms to enter the Vietnamese retail market, retail turnover is expected to surpass US$85 billion in 2012 and more modern retail channels will contribute to boosting the newly emerging industry.

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