Vietnam-Foreign supermarkets take lions share.

VIETNAM.

OVERSEAS COMPETITION.

Local retailers in Vietnam are facing very fierce competition from overseas multi national retail chains, that have opened up the country.

These multi retailers include Metro, Casino, Lotte Mart, Circle K, Dairy Farms and Metro supermarkets who are all cashing in on the emerging economy.

Three years ago there were only 200 supermarkets, 30 shopping malls and around 1,000 convenience stores. There is expected to be 700 supermarkets, 150 shopping malls and several thousand convenience stores by the end of 2009.

The government wants to promote foreign investment and is advising local business, to get into joint ventures rather than leave the market.

Traditionally the Vietnamese prefer to shop in markets and from street vendors, a tradition that is rapidly changing.