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Vietnam Distribution Network Development And Investment Joint- stock Company (VDA) officially present itself before the public on 14 May’s morning.

VDA is established by the corporation of four Vietnam’s biggest giants in retailing business, including Hapro, Satra, Saigon Co.op and Phu Thai Group Joint stock Company.

The foundation of VDA is evaluated as a prompt event since according to the Route of WTO integration-there will be a big change in Vietnam’s retailing market at the beginning of 2009. Therefore, Groups and international investors will establish companies with 100% foreign capital instead of asking permissions or joint venting as before. It means that domestic enterprises have to directly face with multinational Groups who have strengths in finance, resources, modern management approach and huge potentials about the market.

At the present, there are some foreign retailing groups such as Metro, Big C, Parkson in Vietnam. Lottle, Carreour and especially the world biggest retailer Wal-Mart may come in the near future.

According to Ms Nguyen Thi Hong Minh, General Director of VDA, VDA’s target is to become the leading Group in Commercial Service and Logistics field. VDA will focus on investing in constructing and developing professional and modern shopping centre chain, hypermarkets at different levels and brands.

And following to Mr. Nguyen Huu Thang, General Director of Hapro-one VDA‘s founding member, the establishment of VDA is the proof of objective and unavoidable trend on the road of integration into international trade. It expresses the higher and higher professionalization in distributing field, creating competitiveness and cooperation ability, including large distribution Groups over the world.

At the foundation ceremony, the strategic cooperation contract was signed between VDA and Vietnam national shipping lines (Vinalines), Vietnam Association of Seafood Exporters and Producers - VASEP and Bank for Investment and Development of Vietnam (BIDV)

PTG

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