The Thailand-based Central Retail Corporation Public Company Limited (CRC) plans to spend as much as 35 billion THB (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)
Hanoi (VNA) - The Thailand-based Central Retail Corporation Public Company Limited(CRC) plans to spend as much as 35 billion THB (1.1 billion USD) on expanding itsnetwork in Vietnam over the next five years.
The retailconglomerate aims to expand its reach to 55 cities and provinces across thecountry.
It said Vietnam’sservice sector grew 2.34 percent in the last quarter of 2020 and contributed33.5 percent to the national economy, with wholesale and retail taking thelead, up 7 percent.
The sector isexpected to grow robustly this year, making Vietnam one of the fastest-growingand most attractive markets in the world.
PhilippeBroianigo, CEO of the Central Retail Vietnam, said the five-year plan willfocus on multi-sector and multi-platform development to increase its presencein Vietnam’s rural and urban areas.
The group openedfour shopping centres last year in the Mekong Delta provinces of Tra Vinh andBen Tre, central Quang Ngai province, and the Central Highlands province of DakLak, while renaming five Big C supermarkets in Vietnam as “GO!”.
It plans expansionsworth about 6.6 billion THB (211 million USD) this year and will open shoppingcentres in the provinces of Thai Nguyen, Thai Binh, and Lao Cai in the northand Ba Ria-Vung Tau and Tay Ninh in the southern region.
After nine yearsin Vietnam, foodstuffs have proven to be a key sector for Central Retail, contributing70 percent to total revenues.
The group has seta target of promoting its development in Vietnam’s retail sector and rollingout suitable and flexible business methods towards sustainable development.
𒐪 With 37 shopping centresand 230 stores in 37 cities and provinces, it serves an average of 175,000 customerseach day in Vietnam./.
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Central Retail Corporation's Big C supermarket has its name changed into Go! (Photo: VNA) 
