Prime Minister suggests UAE-based Lulu Group open up hypermarket chain in Viet Nam
VGP - Prime Minister Pham Minh Chinh suggested Lulu Group International open hypermarket chain in Viet Nam to optimize the 100-million population market with rising middle class and increasingly improved income per capita.
Prime Minister Pham Minh Chinh (R) shakes hands with Yusuff Ali Musaliam Veettil Abdul Kader, Chairman and Managing Director of LuLu Group International, in Abu Dhabi, October 27, 2024 - Photo: VGP/Nhat Bac
The Vietnamese Government chief made the suggestion during a reception for Yusuff Ali Musaliam Veettil Abdul Kader, Chairman and Managing Director of LuLu Group International, in Abu Dhabi on October 27, as part of his official visit to the United Arab Emirates (UAE).
Pham also called on Lulu Group, with its extensive network of branches, to serve as a bridge to attract potential investors from both within and outside the UAE to invest in Viet Nam, including launching agricultural processing facilities in the Southeast Asian country.
According to Prime Minister Pham, Viet Nam has deeply integrated into the international community after joining 19 free trade agreements (FTAs) involving more than 60 foreign partners, of which 16 have come into effect.
Viet Nam boasts for a favorable geographical location and an increasingly improving logistics system. Viet Nam has numerous favorable conditions for imports and exports, and for connecting with major markets in the region as well as the world such as Japan, the Republic of Korea, China, Europe, and America.
In reply, Yusuff Ali said that Lulu has set up a representative office in Ho Chi Minh City to purchase Vietnamese products for its system of 265 hypermarkets around the world. He expected to continue receiving support from the Government to expand its presence in Viet Nam./.
