Malaysia’s leading retailer group Parkson Corporation said its business in Vietnam has recorded the highest growth among markets worldwide where it is present, so it plans to further expand its investment in the country.

Tham Tuck Choy, general director of Parkson Vietnam, told reporters last week upon the opening of a new Parkson shopping complex in HCMC that “Parkson has actually gained double-digit growth since its entry into Vietnam in 2005.”

Its growth business in Vietnam this year was some 30%, while this is some 10% in China and 10-15% in Malaysia, he said at the opening ceremony for Parkson Flemington, which is the fourth Parkson outlet in the city and the sixth nationwide.

“We are very happy with our business results in Vietnam in the past years. I need to reconfirm that Vietnam is a very attractive market,” he said.

Choy said its business was higher in Hanoi, at some 40%, so the company has plans to further boost business expansion in the capital next year.

Choy clarified that his company would open two new shopping centers in Hanoi in 2010, taking to three Parkson outlets there. Besides, the company also is expected to open the first Parkson center in the central city of Danang next year or 2011.

Earlier, Parkson had planned to operate 10 retail stores in major cities like Hanoi, HCMC, Danang, Can Tho, Haiphong and Vung Tau by 2010, but Choy admitted that the plan could not be realized since “it is very difficult to find locations for opening new shopping centers in big cities like HCMC and Hanoi.”

Parkson Vietnam officially opened the first store, Parkson Saigontourist Plaza, in 2005. Up to now, the company has invested US$70 million in Vietnam.

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