While the hypermarket segment is dominated by foreign players, key players in supermarket segment are locals.
Vietnam is a still young retail market and has lots of development potential.
No supermarket was opened in the past eight months though Lotte Vietnam Shopping Joint Stock Company has set out an ambitious plan to open more 12 Lotte Mart supermarkets in Vietnam since early this year.
Lotte has been accused of illegaly using land to build commercial center in Ba Ria - Vung Tau province, since 2014 to date, without paying land rent and owning a certificate of land use rights, according to the Government Inspectorate.
The mammoth Korean retail group, Lotte has no plan to leave Vietnam despite its current inefficient operation as the group targets to start making profit by 2020.
After 10 years investing in Vietnam, Lotte Group has opened 13 supermarkets despite continuous losses.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
Editor-in-Chief: Nguyen Cao Cuong
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