It is expected to be a critical 12 months for Vietnam when it comes to attracting more retailers from abroad. Nguyen Ngoc Van, representative in Ho Chi Minh City for a major Chinese retailer, said the Fortune 500 company may invest in Vietnam with major projects worth up to hundreds of US dollars this year. The company also works in logistics services. "It is expected that when the group enters Vietnam, the country's online retail and logistics landscapes will see big changes and bigger competition," Van said. The group wishes to venture into the Vietnamese e-commerce market to take advantage of the huge population and rising middle class. Vietnam's average per capita income stood at $3,700 last year and is expected to rise to $3,900 by 2025. However, also according to Van, Vietnam and other ASEAN nations have also been cementing their digital cooperation, paving the way for businesses with digital solutions to operate better in the region. "This will enable our company to deepen its cooperation with partners not only in Vietnam, but also in other regional markets," Van said. According to the General Statistics Office, 60 per cent of the 98.6 million population in Vietnam are under 35… Read full this story
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