Saigon Co.op strives to remain leading retailer in Vietnam
The Saigon Union of Trading Cooperatives (Saigon Co.op) is making every effort to remain a leading retailer in the country, said its General Director Nguyen An Duc at a meeting to launch the cooperative’s business tasks for 2021 on March 22.
A Co.opmart supermarket in District 10 of Ho Chi Minh City (Photo: VNA)
HCMCity (VNA) - The Saigon Union of Trading Cooperatives (Saigon Co.op)is making every effort to remain a leading retailer in the country, said itsGeneral Director Nguyen An Duc at a meeting to launch the cooperative’sbusiness tasks for 2021 on March 22.
Thisyear, it eyes sales growth of 8-10 percent, 4-5 percent growth in pre-taxprofit and 5-6 percent increase in labour productivity.
Duc said the cooperative willfocus on improving the efficiency of its retail models and improve customerservices in 2021.
It also seeks to expand its network to have at least 2,000 outlets nationwideby 2025, lead the market in terms of goods quality, food hygiene and safety andpromoting private labels to support small and medium-sized enterprises andcreate a new and modern distribution centre to help complete its supply chain.
Despite facing difficulties due to the COVID-19 pandemic last year, SaigonCo.op achieved sales of over 33 trillion VND (1.42 billion USD), equivalent tonearly 90 percent of its target and slightly down from 2019.
In HCM City, its Co.opmart supermarket chain accounted for over 45 percent ofsupermarkets’ revenues.
Saigon Co.op’s pre-tax profit was over 1 trillion VND (43.28 million USD),which meant it achieved its target.
Phan Thi Thang, deputy chairwoman of the city People’s Committee, hailed the cooperative’sachievements, saying it had contributed greatly to the city’s economicdevelopment and fight against the pandemic.
She called on the unit to restructure its cooperative model, speed upinternational integration and focus more on optimising its business./.
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A Co.opmart supermarket in District 10 of Ho Chi Minh City (Photo: VNA) 
