Vietnam’s retail sales have grown dramatically over a long period of time, maintaining a 5-year CAGR of 17.6% (2010-2015) despite the economic slowdown in these years, to reach almost US$110bn in 2015.

In particular, modern retail is growing extremely fast, though notably in big urban areas, and is taking up an increasing portion of total retail sales. The emergence of the modern retail formats and the participation of foreign retailers have brought a breath of fresh air and greatly changed the face of retail in Vietnam, bringing more choice and convenience for consumers.

Although the modern retail channels has many advantages in attracting customers and is forecast to grow strongly in the future but in general, shopping at traditional retail market still accounts high proportion until 2015 (at least 70%). Under competitive pressure from modern retail channels, local market systems and other forms of traditional retail in Vietnam have been renewing and upgrading infrastructure as well as enhancing customer service to bring more benefits to consumers.

The role of retail flooring to retailers around the world as well as in Vietnam is obviously vital. Retail flooring has always been top a “hot” topic. The retail flooring market in Vietnam is even more difficult when not only the supply is limited but also the available ones are at high rent prices.

Since 1 Jan 2009, Vietnam has opened its doors for the retail business with 100% foreign ownership. They are authorized distributors of all products made in Vietnam and other products legally imported into Vietnam; excluding a number of long-term limits as prescribed by the Government.

How do Frank Morgan help you with establishing retail business in Vietnam? Do contact us today, our professionals with years’ experience in market intelligence/entry, corporate finance, tax and accounting Frank Morgan LLC has quickly built a strong track record with numerous major credentials. We are based in downtown Ho Chi Minh City with the ability to cover nationwide, will surely make your retail business established, running fast and profitable.

establish business retail in vietnam

13Jun 2015

Education always plays a central role in Vietnamese culture and society. Vietnamese people believe that virtues are attained through learning. More parents sacrifice to ensure that their children obtain the good education. With the Vietnam’s increasing well-being, rising disposable income, young population, and the expanding emergence of high-income and middle-income classes, the demand of a […]

30Jul 2015

Vietnam’s retail sales have grown dramatically over a long period of time, maintaining a 5-year CAGR of 17.6% (2010-2015) despite the economic slowdown in these years, to reach almost US$110bn in 2015. In particular, modern retail is growing extremely fast, though notably in big urban areas, and is taking up an increasing portion of total […]

10Jun 2016

ICT sector in Vietnam – An Overview Information and communications technology (ICT) is an extended term for information technology (IT). Vietnam’s growing economy has greatly strengthened the development of the ICT sector, especially as Vietnamese firms are increasingly integrated into the global economy. The ICT sector continues to be a key growth priority of the Vietnamese Government. Access […]

16Jun 2016

A city of more than 10-million population. A unique start-up culture, great value, a fine climate and a solid entrepreneur community; yet the hiring process can come with many pitfalls, which may put your managerial skills to the test. A real city for bootstrappers, getting your business up and running comes with limited overheads. A young, fast and vibrant country with a fierce work ethic and a strong motorbike culture.

17Jun 2016

Vietnam Logistics industry is one of the fastest growing industries in Vietnam and is estimated to grow at a greater pace than the GDP growth rate.  Logistics service revenues currently account for 15-20% of GDP in Vietnam. However, poor logistics infrastructure and inadequate transport infrastructure resulted in high costs for participants. Ha Noi, Hai Phong (North), […]

17Jun 2016

Agribusiness sector continues to play a considerable role in Vietnam’s transition to a market-based economy, despite its shrinking portion in GDP (18.1% in 2015, compared to 16.1% in 2014). Vietnam’s strength in agricultural output is built upon a large rural base where farm and agribusiness labor accounts for 44.3% of the workforce and 65.7% of […]

04Jul 2016

Overview of Vietnam taxation system With Vietnam taxation system, tax administration is regulated the Law on Tax Administration enacted in 2007, and overseen by the National Department of Taxation, which operates under the Ministry of Finance. Tax affairs are more commonly handled by local provincial (municipality) tax departments and district tax departments. All foreign-invested companies […]

04Jul 2016

Vietnam tax treaties on double taxation avoidance In an endeavor to avoid the double taxation of international income and therefore promote foreign direct investment (FDI), Vietnam tax treaties on Double Taxation Avoidance (DTAs) have been concluded with about 65 countries to date, including most major countries. Latest DTA pacts Vietnam concluded are with Estonia, United States, and […]

04Jul 2016

Foreign contractors (or any corporate parties deriving income in Vietnam) are subject to taxes on payments for work done in Vietnam based on the contracts signed between them and a Vietnamese partner(s) in the form of the foreign contractor tax (FCT), value added tax (VAT) and corporate income tax (CIT). CIT-liable income is determined on […]

06Jul 2016

After a slow start and some pessimistic predictions, Vietnam has ended 2017 with an impressive Gross Domestic Product (GDP) growth rate of 6.8%, according to the General Statistics Office (GSO). This result is 0.1% higher than the initial target of 6.7% and much higher than last year’s 6.21%. This GDP growth rate is the country’s best […]

28Sep 2016

Dietary Supplements in Vietnam The diatary supplements (also known as functional foods or food supplements) sector is one of the fastest growing food sectors over the past decade, with an average annual growth rate of 20%. In 2015 total market value was approximately $1.1 billion. Foreign brands tend to be positioned in the premium segment […]

13Feb 2017

Why tax compliance requirements Vietnam, Ho Chi Minh is your burden – no more? If you are doing business in Vietnam (with or without a legal entity), tax compliance matters deserve your due attention. Do also note that the legislation and practice at times develop in different directions, which can be very confusing. Many taxpayers […]

14Feb 2017
Payroll service vietnam

As a trusted provider of payroll services in Vietnam, Frank Morgan makes it easy for you to deliver on-time, accurate, legally compliant payroll to your employees month after month. We provide clients with a total solutions package for payroll and HR outsourcing using international standards, coupled with extensive local knowledge. Frank Morgan LLC provides payroll and employment-related […]

15Feb 2017
International expansion services Vietnam

Over time, most international companies look to expand into new geographies in a bid to grow revenues and profitability once their existing markets have matured or saturated, that’s time for looking for International expansion services in Vietnam. Vietnam has increasingly become a new destination for many global firms. Starting with Clients’ strategic objectives, Frank Morgan […]

30Mar 2018

Vietnam’s economy posted its strongest first-quarter growth in 10 years, expanding 7.38 percent annually in January-March and backed by strong growth in manufacturing and agriculture, the country’s statistics office said on Thursday.  “The first quarter growth extended strong momentum in the second half of last year, and with the normally low basis of first quarter […]

31Jul 2018

The healthcare system in Vietnam consists primarily of hospitals and commune health stations. Commune health stations mostly take care of vaccine intakes for infants and young children, and women’s birth delivery in rural areas. There is serious lack of quality hospitals (those that offer standard healthcare) leading to excessive crowdedness in top or central public […]

03Aug 2018

In highlights: Vietnam’s economy expanded 6.8% in 2Q2018 and 7.1% in 1H2018, the highest growths in years. The economy is expected to grow 6.8% in 2018 on the back of increased demand for manufacturing exports, rising domestic consumption and continued surge in FDI inflows. Inflation is expected to stay under control, below 4% for 2018. […]