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US market researcher highlights Vietnam food and drink sector   2008-11-24 - VNA

Research and Markets, a business website of US and international investors, has recently called on multinational companies to invest in the food and drink industry of Vietnam, saying that the Southeast Asian nation is one of the most attractive emerging markets in the sectors.

Hanoi, Vietnam
In the addition of the "Vietnam Food and Drink Report" offered to their clients, the wire business says Vietnam has recorded strong economic growth with personal disposable income on an upward trend. The country's large population also means that there is the potential for a sizeable middle-class to emerge, which could see spending increase on premium goods and luxury items.

The Vietnam Food and Drink Report writes: the mass grocery retail sector is still dominated by small independent retailers. However, under its WTO commitments, Vietnam will have to open its market to foreign retail and distribution firms at the start of 2009.

With the threat of giant multinationals entering the market, the larger firms already operating in the market are scrambling to increase scale and the market shares of both Metro Cash & Carry and Big C are reportedly on the rise. Soon these firms could have to compete with such US giants as Wal-Mart, Carrefour and Costco.

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