Central Retail commits to invest US$ 1.1 billion in Vietnam

According to Philippe Broianigo, CEO of Central Retail in Vietnam, the next 5-year plan of Central Retail will focus on multidisciplinary and multi-platform development to increase its presence from urban to rural areas, build brands in the food sector that are more closely and focus on enhancing user experience, develop non-food brands as well as multi-channel platforms.

In 2021, Central Retail continues to accelerate its expansion with a total investment of about 6.6 billion Bath (US$ 211 million) to open 4 new GO! shopping malls and hypermarkets in Thai Nguyen, Ba Ria Vung Tau, Thai Binh and Lao Cai, and a GO! mini supermarket in Tay Ninh. Besides, Central Retail will convert 8 Big C hypermarkets into GO! hypermarkets and convert 7 Big C supermarkets into Tops Markets supermarkets.

With 37 shopping malls and 230 stores with a total area of 1 million m2 across 39 provinces and cities, Central Retail in Vietnam serves an average of 175,000 customers per day. Central Retail's long-term plan is to expand its business to increase its presence in 55 provinces and cities nationwide within 5 years to provide more comprehensive services and create more stable jobs and income for Vietnamese people.

According to statistics, the service sector in Vietnam grew by 2.34%, headed by the wholesale and retail sectors with 7% growth over the same period in the fourth quarter of 2020, contributing 33.5% to the economy. This makes Vietnam one of the fastest growing and most attractive markets in the world.