Modern retailing represented by foreign and domestic powerhouses iscatching on in Vietnam, taking the place of brick-and-mortar businesses,according to experts.

The home retail market is now full ofconvenience stores, supermarkets and shopping malls. Foreign giantsWalmart, Auchan and Robinson are eyeing or even starting theiroperations here, said Deputy Director of the Ministry of Industry andTrade’s Domestic Market Department Tran Nguyen Nam at a forum in Hanoion October 13.

In her view, Chairwoman of the Vietnam Retailers’Association Dinh Thi My Loan warned that more and more foreignretailers will vie for the lion’s share in Vietnam. The trend will bringalong both opportunities and challenges, forcing domestic rivals tostrengthen their edges.

The association’s position is thatauthorities must carefully consider granting license to retailers. Inthe meantime, it is unnecessary to protect domestic distributors, butthere should be transparency when it comes to draw foreign investment,Loan said.

According to the ministry, Vietnam recorded 724supermarkets, 132 trade centres of various kinds, around 9,000 marketsand 1 million family-run outlets by the end of 2013.

By 2020, as many as 1,200-1,300 supermarkets, 180 trade centres and 157 shopping malls are predicted to operate in the country.-VNA