Four firms to form conglomerate to fight foreign retailersVietNamNet Bridge - The Association of Vietnam Retailers (AVR) has asked the government to establish a retail conglomerate from four big retail chains, Saigon Co-op, Phu Thai Group, Satra and Hapro, to compete with foreign retailers flocking to Vietnam. AVR’s chair Dinh Thi My Loan said the conglomerate, if established, would be a multiple ownership legal entity in the retail industry. AVR’s chair Dinh Thi My Loan said the conglomerate, if established, would be a multiple ownership legal entity in the retail industry. With a strong VDA, foreign investors would have to consider carefully if they want to take over distribution and logistics chains in Vietnam. Minh said involved parties are calling for the establishment of a retail conglomerate under a new model with features different from the old model.

Source: VietNamNet News August 12, 2017 02:03 UTC