Co.op said Saturday it planned to open 10 new supermarkets in Vietnam this year
while also expanding its business to Cambodia.
Director Nguyen Thi Hanh said the new supermarkets, which would cost a total
VND500 billion to build, would increase the total number of Saigon Co.op outlets
nationwide to 52.
The Ho Chi
Minh City-based retailer also plans to open its first overseas supermarket in
Cambodia, aiming to bring more Vietnamese products to the neighboring market.
Co.op also announced Saturday that construction on its $300-million shopping
center in District 7 will begin this year. The project, with a total area of
70,000 square meters, is scheduled for completion after two years.
posted revenue of VND8.5 trillion last year, up 34.9 percent from 2008. The
retailer is targeting a 34 percent increase in revenue this year.