Lotte Mart rejects loss reportsLotte Vietnam Shopping Joint Stock Company (Lotte Mart Vietnam) has written to the Ministries of Information and Communications and Finance and the media dismissing the false reports in some newspapers that it has made losses of VND2.3 trillion (US$100.87 million) in its 11 years in Viet Nam. A Lotte Mart store in HCM City. Viet Nam is the most promising Asian retail market, and therefore it had come to Viet Nam for long-term investment and opened malls around the country, it said. Jeong Seong Won, chief financial officer of Lotte Mart Vietnam, said: “We expect that by 2020 we will start to make a profit. This is the strategic vision and long-term investment commitment of Lotte Group as well as Lotte Mart in Viet Nam.” — VNS

Source: VietNamNet News May 22, 2018 04:30 UTC