Da Nang is emerging as an attractive destination for retailers from both home and abroad.  Many of the world’s leading retailers are showing a keen interest in investing in the local area, presumably due to its great potential.

According to the latest report released by the CB Richard Ellis Viet Nam Company, Viet Nam is currently ranked second among the top 10 attractive locations for retailers in Asia in 2014.  Ha Noi, Da Nang and Ho Chi Minh City are also listed in the Asia- Pacific region’s top 10 cities having vibrant retail markets.

A local supermarket crowded with shoppers

Over recent years, Da Nang has seen significant annual increases in the total value of its retail sales of goods and services.  Between January and October of this year, it hit an estimate of over 65.5 trillion VND, a rise of 13.5% against the same period last year and fulfilling 91.4% of the year’s target.

Currently, Da Nang’s dynamic retail market has witnessed tough competition between large-scale domestic and foreign retail businesses operating in the city.  The city is now home to numerous general and specialised supermarkets.  The high potential of the local retail market is mainly attributed to the high purchasing demand of local residents and those from neighbouring localities, as well as the millions of foreign and domestic visitors arriving in the city every year.