HANOI, March 3 (Xinhua) -- Vietnam's retail sector is experiencing positive growth and is projected to reach 350 billion U.S. dollars this year, contributing 59 percent of the total state budget, Vietnam News Agency cited the Ministry of Industry and Trade on Monday.
A survey by Savills Vietnam found that compared to Thailand, Indonesia and Singapore, Vietnam's retail market is still developing. However, it has made significant strides post-COVID-19.
Key growth factors include a large and young population, an expanding middle class, rising young affluent consumers, the rapid growth of e-commerce, increasing tourists and strong investment from global brands.
Experts said over the 2025-2030 period, the market is expected to post stronger growth, positioning Vietnam as a key competitor among leading markets in the region.
