Food & Hotel Vietnam is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726

Thailand’s leading retail group announces the largest investment in Vietnam


According to the Vietnam News Agency correspondent in Bangkok, Thailand’s largest retailer Central Retail Corporation (CRC) has announced the largest investment in Vietnam, with a total value of 50 billion baht ($1.45 billion) in the period 2023 – 2027 to accelerate their presence in this market.

Ready-to-eat food counter at GO! Can Tho. Photo: Thanh Liem/VNA

According to CEO of CRC Yol Phokasub, the group considers Vietnam a high potential market with a continuously growing economy. Vietnam’s retail market is estimated to be worth $49.7 billion per year and is growing at a rate of 10 – 12% per year. With a strong foothold in Vietnam, over the years, CRC has set a 5-year roadmap to continue expanding here with an investment of 50 billion baht in the next 5 years.

CRC has invested more than 10 billion baht ($290 million) to expand its retail business in Vietnam in the period 2012 – 2022. Central Retail Vietnam has more than 340 stores with a total floor area of more than 1.2 million square meters in 40 provinces. Olivier Langlet, CEO of Central Retail Vietnam, said the company has recorded rapid growth in sales in the country, from 300 million baht ($8.7 million) in 2014 to 38.6 billion baht ($1.12 billion) in 2021. Assessing that Vietnam’s economy continues to grow despite world uncertainties, Mr. Langlet expects Vietnam’s Gross Domestic Product (GDP) growth to reach 6.7% and 7.2% in 2023 and 2024, respectively, compared with Thailand’s average of 3.5%/year over the next two years. This will make Vietnam the fastest growing market in Southeast Asia.

Mr. Langlet said, Central Retail Vietnam wants to develop the food business nationwide to strengthen its leading position in the hypermarket segment in Vietnam, by rebranding and renewing 10 GO! and expand Tops market supermarket and Mini go branch! by adding 8 to 10 outlet stores to better serve the needs of local consumers. In addition, Central Retail Vietnam is committed to strengthening its fresh food and non-food categories to drive customer traffic, as well as preparing for the launch of a new branch in the future. In addition, the company also plans to renovate 10 – 12 branches of Nguyen Kim electronics supermarket chain and open 3 – 5 new branches, including stores in the GO!

Source: CafeBiz

Share this post

Must Read


You may be interested in

Starbucks and a decade-long struggle to conquer Vietnamese consumers
By the end of 2022, the number of Starbucks stores in Vietnam has not reached 100 units,...
The company recommended not imposing a separate consumption tax on sugary beverages.
Businesses argue that sugary drinks are not related to obesity, so they recommend not including...
Having spent over 270 million USD to acquire Phuc Long, Masan only gained a meager profit of 38 billion VND from it.
Although spending billions of Vietnamese dong to own up to 85% of the shares of Phuc Long, the tea...
Vietnam Airlines resumes cooperation with Air France from March 26th
Nguyen Tien Hoang, head of Vietnam Airlines’ branches in France and Europe, said he would...
Fruit, vegetable exports rise 17.8%
Durians are sold at a market in Ho Chi Minh City. Photo by VnExpress/Hong ChauVietnam’s fruit...
Opportunities to boost export of processed foodstuff to Asia -Pacific, African markets
The Ministry of Industry and Trade (MoIT) hosted a conference with Vietnamese trade representative...
Kido establishes a subsidiary to produce fish sauce, wants every kitchen shelf to have more seasoning powder, soy sauce, fish sauce from Kido
Kido contributed 196 billion VND to TA Foods and Spices, equivalent to 98% ownership. This is a...
The battle of Thais in the Vietnamese energy drink market: “Golden bull” Red Bull fights “Green buffalo” Carabao
In the energy drink market, if Red Bull is a powerful old “Golden Bull”, Carabao is...

Subscribe to Our eNewsletters