Japanese retailers have started to expand their business in Vietnam as localities loosen social distancing restrictions and accelerate vaccination against Covid-19.
Coffee chain %Arabica, which currently has over 100 outlets in 18 countries, has announced it will open its first shop in Vietnam on walking street Nguyen Hue in District 1, HCMC.
Late last month, casual wear producer and retailer Uniqlo opened a new store in Hanoi’s Ha Dong District, its 10th outlet in Vietnam. In early November, it had inaugurated an online store in the country.
Beauty brand ReFa has announced it will open three stores in HCMC late this year before expanding to Hanoi by mid-2022.
Retail group Aeon, which has invested $1.18 billion in Vietnam, plans to double the number of shopping malls across the country in the coming time. It also plans to list shares on the Vietnamese stock market, and facilitate export of Vietnamese seafood, garments and other products to Japan.
According to the Ministry of Industry and Trade, Vietnam’s total goods retail sales and service revenues in October rose 18.5 percent over the previous month.
Some Vietnamese securities companies, including VCSC and VNDirect, have predicted that the retail sector would grow late this year, when vaccination is stepped up, more economic activities resume and many festivals take place. The sector’s profit would increase over 20 percent this year.