Retailers hook up on distribution network
09:08' 15/05/2007 (GMT+7)

VietNamNet Bridge - Four of Vietnam's leading retailers have banded together to invest in and develop a nation-wide distribution network that made its debut in Hanoi, on May 14.

The establishment of the Vietnam Distribution Network Investment and Development Joint Stock Company (VDA) is seen by market analysts as the start of an industry trend geared towards greater cooperation between retailers in order to increase competitiveness.

The association was formed after the Hanoi Trading Corporation (Hapro), the Ho Chi Minh City Union of Trading Cooperatives (Saigon Co-op), the Saigon Trading Corporation (Satra) and the Phu Thai Trading Company (Phu Thai Group) had earlier agreed to link up on the deal.

“VDA will set up a chain of trading centres, supermarkets and warehouses and will focus on both wholesale and retail sales to meet the increasing and diversified demands of consumers,” VDA Chairman Huynh Van Minh said.

He added that his company would also boost direct investment in foreign countries to support Vietnamese exporters and also branch out as an importer.

VDA was established with 1.5 trillion VND in capital, which is expected to increase to 6 trillion VND between 2008 and 2010.

(Source: VNA)

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