Vietnam Retail Sales, Services Revenue to Rise 18%-20% This Year

Vietnam’s total retail sales and services revenue in 2009 is forecast to increase between 18% and 20% from VND968.067 trillion ($54.15 billion) in 2008.

General Secretary Dinh Thi My Loan of the Vietnam Retailers Association, released the estimate at a seminar on consumption trends and prospects of the retail market during the 2009-2010 held in Hanoi mid November.

The general secretary also forecast the country’s total retail sales and services revenue will reach $85 billion in 2012.

Speaking at the seminar, Director of the European Chamber of Commerce and Industry (EuroCham) Hanoi Office Matthias Duehn said prospects for Vietnam’s retail market will be bright as the country becomes “an attractive destination for businesses in Asia.”

The EuroCham and the Vietnam Chamber of Commerce and Industry (VCCI) organized the seminar.

The General Statistics Office estimated Vietnam’s total retail sales and services revenue rose 18% from a year earlier to VND958.27 trillion ($53.6 billion) in the first ten months of this year. (Vietnam & World Economy)

Tags: Vietnam business news, Vietnam retail market