Thai retail group to invest additional 1.1 billion USD in Vietnam in 5 years
(VOVWORLD) - The Thailand-based Central Retail Corporation Public Company Limited (CRC) plans to spend as much as 1.1 billion USD on expanding its network in Vietnam over the next five years.
 Central Retail Corporation's Big C supermarket has its name changed into Go! (Photo: VNA) |
The retail conglomerate aims to expand its reach to 55 cities and provinces across Vietnam.
It said Vietnam’s service sector grew 2.34% in the last quarter of 2020 and contributed 33.5% to the national economy, with wholesale and retail taking the lead, up 7%. The sector is expected to grow robustly this year, making Vietnam one of the fastest-growing and most attractive markets in the world.
Philippe Broianigo, CEO of Central Retail Vietnam, said the five-year plan will focus on multi-sector and multi-platform development to increase its presence in Vietnam’s rural and urban areas, provide comprehensive services, and generate more jobs and income for the locals.