Hanoi (VNA) – Foreign investors paid $9 billion to the Vietnamese retail and wholesale markets between January and November, representing 2.2% of the country’s total capital, the
Ministry of Planning and Investment noted.
The retail sector is considered the brightest aspect of the national economy, the General Statistics Office (GSO) said, noting that during the 11-month period, total retail sales of consumer goods and services reached over VND 4 quadrillion.
If the pace of growth continues, the domestic retail market will reach USD 200 billion in the next two years, experts say.
The Vietnamese retail market has therefore become a magnet for foreign investors.
Earlier this year, SK Group, one of the largest conglomerates in the Republic of Korea (RoK) with businesses in energy, chemicals, telecommunications, semiconductors, logistics and services, had invested $410 million to buy 16.26% of WinCommerce.
In November, the group went on to buy a 4.9% stake in The CrownX for $345 million from Masan Group Corporation.
Masan announced in June that it had completed a private issue of a 5.5% stake in The CrownX to a consortium led by Alibaba Group and Baring Private Equity Asia for cash consideration of $400 million.
On December 13, Masan signed an agreement for a $350 million lead investment in The CrownX by a consortium of investors including TPG, Platinum Orchid – 100% owned by the Abu Dhabi Investment Authority and SeaTown Master Fund – managed by an indirect subsidiary of Temasek Holdings. .
It marks the latest round of funding for the TCX ecosystem, which has now raised over $1.5 billion from top global investors since its launch in the first half of 2020.
This gives TCX a valuation of $8.2 billion, or $105 per share and representing a 12% increase since the previous round.
After the deal, Masan will own 81.4% of The CrownX. She intends to use the proceeds to invest in growth initiatives and conduct a stock buyback.
Dinh Thi My Loan, chairwoman of the Vietnam Retailers Association, said that to continue growing, domestic retail companies need to catch up with new retail trends and reform their business strategies.
Economist Vu Vinh Phu suggested that enterprises are upgrading themselves amid the development of digital technology to become more attractive to foreign investors./.