BMI Sees Plenty Of Upside Potential In Vietnam's MGR Sector

Singapore mass grocery retail operator NTUC Fairprice and Vietnam's Saigon Union of Trading Co-operatives has inked a joint venture agreement to establish a chain of hypermarkets in Vietnam as they look to ride on the exciting emerging market (EM) demand story that is expected to play out in Vietnam over the next decade. Given Saigon's local expertise and NTUC's experience in operating hypermarket stores, this is clearly a formidable-looking partnership, and their expansionary activities are likely to place considerable upward pressure on our hypermarket growth forecast for Vietnam. These retailers are expected to set up their first hypermarket in Vietnam by 2012.

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