Lotte mart dong nai

Lotte Mart turns 100% foreign owned, raises capitalQuoc Hung By Quoc Hung - The Saigon Times Daily Lotte Mart supermarket in HCMC’s District 7 - Photo: Quoc Hung HCMC – Lotte Mart, an affiliate of South Korea’s leading retailer Lotte Group, has got approval to become a 100% foreign-owned enterprise and increase its charter capital to expand business in the country, said the HCMC Department of Planning and Investment on Monday. Lotte Mart has gained approval to acquire an entire stake of Minh Van Commercial and Production Company, Lotte Mart’s partner in the Lotte Vietnam Commercial Center Co. Ltd. The joint venture as per the investment license granted to Lotte Mart in 2006 had a charter capital of US$65 million, of which Minh Van Company held a 20% stake with a US$13-million contribution and Lotte Mart held an 80% stake with US$52 million. The joint venture up to now has launched two commercial centers into operation … [Read more...] about Lotte Mart turns 100% foreign owned, raises capital

New Lotte Mart to go up in Vung Tau Hung Le By Hung Le - The Saigon Times Daily HCMC – Lotte Vietnam has got approval to set up a new Lotte Mart shopping mall in the southern coastal city of Vung Tau, where two other store chains – Co.opMart and Metro Cash & Carry – have established a market presence. Ba Ria-Vung Tau Province has handed over an investment certificate to Lotte Vietnam to implement the Lotte Mart Vung Tau project worth more than VND721 billion. The development will cover over 10,000 square meters at the intersection of Ba Thang Hai and Thi Sach streets in Ward 8. Like other projects in HCMC and elsewhere in the country, the Vung Tau project will comprise a supermarket, a goods processing and retail section, restaurants, and entertainment facilities like children’s playground, billiards and bowling areas, gaming section, fitness center, and cinema. The company is expected to begin work on the project in the first quarter this year and put … [Read more...] about New Lotte Mart to go up in Vung Tau

Lotte Mart expands to Mekong DeltaLe Hoang By Le Hoang - The Saigon Times Daily HCMC – South Korean retailer Lotte Mart plans to expand its network to the Mekong Delta following the successful opening of stores in HCMC, Hanoi, Danang and the southeastern region. The retailer will open its first outlet in Can Tho City. According to the city’s Department of Planning and Investment, local authorities have given the nod to the investor to set up Lotte Can Tho commercial center on over 15,700 square meters in Ninh Kieu District. The company plans to invest more than US$31 million in the project. However, the local government will have to consult the Ministry of Industry and Trade as retail is a conditional business field for foreign investors. Can Tho has become an attractive destination for local and international retailers due to rising consumer spending and higher living standards than other localities in the delta. Many distributors such as Metro Cash & Carry, … [Read more...] about Lotte Mart expands to Mekong Delta

Lotte Mart to sell Vietnam goods in S.Korea Vu Yen By Vu Yen - The Saigon Times Daily HCMC – South Korean retailer Lotte Mart is proceeding with plans to sell aquatic and seafood products, cashew nuts, coffee, apparel, footwear and other Vietnamese goods at its 107 stores in South Korea this October. The plans to promote Vietnamese goods at Lotte Mart’s stores in South Korea were unveiled by Hong Won Sik, country director of Lotte Mart Vietnam, at the opening day of a Vietnamese goods exhibition last week. The 10-day program is taking place at the Lotte Mart stores in Saigon South, Binh Duong and Dong Nai provinces until August 3. The event showcases as many as 100 Vietnamese products, including foods and beverages, household appliances and clothes among others. Hong said the program was aimed to build strong links between South Korean importers with local suppliers and survey Korean consumers’ demand for Vietnamese products in order to find appropriate items for … [Read more...] about Lotte Mart to sell Vietnam goods in S.Korea