Lotte Mart retailer increases investment in Vietnam

Lotte Mart retailer expects to soon open its third outlet in Vietnam. Currently it has two retail centres in HCM City.
On September 23, Korea-based retailer Lotte Mart revealed that it will increase investment in Vietnam.
According to Lotte Mart, Vietnamese government allowed the Korean retailer to increase its general investment capital by $50 million.
Lotte Mart, an affiliate of Lotte Shopping giant retail group in Korea, contributed $40 million, or 80% stake for its investment increase and the remaining will be made up by the local firm Minh Van.
Lotte Mart set up Lotte Vietnam Shopping, a joint venture with Vietnam-based Minh Van Co, in 2008 with an initial chartered capital of $15 million. If necessary, Lotte Mart may increase its investment in Lotte Vietnam Shopping.”-Source:Vietbiz24.com”

Tags: Lotte Mart retailer, the Korean retailer, Vietnam housing market, Vietnam Property market, Vietnam property sector, vietnam real estate market

Posted by quynhdn on Sep 27 2011. Filed under Investment, Retail. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry