Japan will promote bringing goods into Vietnam through convenience stores.

Japanese convenience store chains are developing rapidly in Vietnam and are identified as an important sales channel for the consumption of goods by small and medium-sized enterprises in this country in the coming time.

This information was shared with reporters by Mr. Hirotaka Yasuzumi, Chief Representative of the Japan External Trade Organization (JETRO) Office in Ho Chi Minh City, during a visit to Family Mart and Mini Stop convenience stores in Ho Chi Minh City by Japanese Minister of Economy, Trade and Industry (METI) Hayashi Motoo on the evening of March 20.

Japanese Minister of Economy, Trade and Industry (METI) Hayashi Motoo (top) and Japanese businesses surveyed goods sold at a Family Mart store in District 2, Ho Chi Minh City on the evening of March 20.

Accompanying the Minister of METI on this visit to Vietnam were representatives of four major retail corporations in Japan, along with 16 enterprises operating in the fields of production of vegetables, fruits, household appliances, confectionery, agricultural products, beef, seafood, stationery and cosmetics, to survey the possibility of bringing their products to Vietnam.

These four retailers are owners of four famous 24-hour store chains in Japan and many countries around the world, including Family Mart, Mini Stop, 7 Eleven and Lowson. They came to Vietnam this time to survey the possibility of expanding their chains or starting to open retail chains in Vietnam. These convenience store chains are considered very important places that the Japanese side has determined to support bringing goods from Japanese small and medium-sized enterprises into business, Mr. Yasuzumi said.

"For a long time, large Japanese manufacturing corporations have expanded their international markets such as the Vietnamese market on their own, but small and medium enterprises, especially small businesses, need support from the government or trade promotion organizations such as JETRO to expand their markets," Mr. Yasuzumi shared.

Although Japan has a number of retail corporations opening large supermarket chains and shopping malls in Vietnam, according to Mr. Yasuzumi, through assessment, convenience store chains are considered important and suitable business locations to bring Japanese goods into business. Therefore, JETRO has coordinated with the operators of the above convenience store chains to consider the possibility of bringing Japanese small and medium-sized enterprise goods into the system in Vietnam.

The head of the JETRO office in Ho Chi Minh City noted that Japanese convenience store chains are different from those in Vietnam and other countries, because this is not only a place where Japanese businesses research what consumers like to buy, but can also develop other services such as financial services, electronic payments, as well as other social public services...

Mr. Ishige Hiroyuki, Chairman of JETRO, said that Japanese convenience store chain owners have a lot of experience and creativity in business, retail circulation... These convenience store owners are developing chains, expanding business systems in Vietnam, creating a platform for small and medium enterprises to bring goods into exploitation.

So far, only Family Mart and Mini Stop have opened convenience store chains in Vietnam and it is expected that by November, these two chains will reach about 200 points of sale so that they can open test counters to sell Japanese products for the first time in the Vietnamese market. It is expected that about 50-60 product lines will be introduced during this period.

Mr. Yasuzumi said that Vietnam is currently considered the largest and most potential retail market in the region, so JETRO has implemented a program to support Japanese businesses in bringing Japanese goods to Vietnam. On the other hand, the Trans-Pacific Partnership Agreement (TPP) is also getting closer, which will open up opportunities for Japanese goods entering Vietnam to be exempted or have their tariffs greatly reduced to be more competitive, and customs procedures for importing goods into Vietnam will also be simpler...

Currently, the number of Family Mart and Mini Stop convenience stores is not large (about 130 stores), but according to Mr. Yasuzumi, the two business chain owners have plans to expand and will likely multiply the two systems to thousands of stores. For example, Mini Stop alone aims to develop 800 stores in Vietnam.

Meanwhile, a world-famous brand of this business model, 7-Eleven, according to previous information in the world press, also plans to open its first store in Vietnam in 2017. The goal of this business is to develop 100 stores after three years in Vietnam. The owner of the Lowson store chain is also observing the Vietnamese market to calculate the business.

According to Saigon Economic Times