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International wholesale market project in the offing
Wednesday,  May 16, 2018,22:01 (GMT+7)

International wholesale market project in the offing

HCMC – An international wholesale market will be set up in the southern region with an estimated investment of US$2 billion, Nguoi Lao Dong newspaper reports, citing the operator of a wholesale market in Dong Nai Province.

Nguyen Hong Long, director of Proton One-Member Liability Limited Company, which manages the Dau Giay wholesale market, said his company has clinched a deal with a European partner to build an international wholesale market in southern Vietnam in the next three years but a location is undecided.

Long said that the international wholesale market is a multi-purpose business complex of commerce, logistics and tourism, which will help promote Vietnamese farm produce, expand exports, and connect producers and consumers.

The new wholesale market, which is projected to cost some US$2 billion or more, is drawing much interest from foreign investors, who should pour 70% of the capital into the project.

Long stressed that under the pressure of competition from modern distribution and e-commerce channels, it is necessary for wholesale markets to diversify business activities.

He revealed that the Dau Giay wholesale market, which entered operation last year, has been more efficient than expected, with some 300 tons of vegetables consumed per day.

Covering 55 hectares Dau Giay is the largest wholesale market in Dong Nai Province, with a total investment of VND1.4 trillion.

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