Conference on Vietnam’s retail sector - opportunities or challenges
Experts provide assessment of sector for the benefit of investors.
The “Vietnam’s Retail Flat World - Opportunities or Challenges” conference was held at the Ho Chi Minh City Stock Exchange (HoSE) on March 28 with sponsorship from HoSE and the Vietinbank Securities JSC, market researchers GfK, and Mobile World (MWG).
The conference heard assessments of Vietnam’s retail market from experts at HoSE, Vietinbank Securities, GfK, and MWG, and on Vietnamese enterprises’ preparations for globalization. A Q&A session was included for investors to learn more about Vietnam’s retail market.
Experts from GfK, MWG, and Vietinbank Securities also shared their knowledge of and experience in Vietnam’s retail market to assist investors in make investment decisions in the right sectors.
“Electronics retail has always been an attractive investment environment, especially mobile phones,” said Mr. Huynh Phuoc Cuong, Director of the Retail Department at GfK Retail and Technology Market Research Vietnam Limited.
The telecoms sector, including mobile phones, accounts for 40 per cent of the electronics and electrical appliances market and records the highest growth, of 30 per cent.
Mr. Tran Hai Dang, Deputy Director of Vietinbank Securities’ Analysis Research Center, pointed to the BMI Index, which shows that Vietnam’s retail market earned $102 billion in 2015 and may reach $179 billion annually within the next five years, growing 7.3 per cent and 11.9 per cent in 2015 and 2020, respectively.
The Ministry of Planning and Investment has set a target for modern retail to grow 45 per cent by 2020 from the current 25 per cent, which will create huge potential for the market.
Along with the opportunities Vietnamese retailers must also face the risk of being acquired by foreign partners, the conference was told.
The conference was the first of a series of seminars to be hosted by HoSE and Vietinbank Securites this year, following on from previous successes.