Vietnam Food Market Sets New Record for Cash, $1.1 Billion
Hanoi — Vietnamese food market Vietnam Food Markets Inc. on Thursday set a new record for the amount of food it sold, with $1,201 billion in sales in the second quarter of this year.
The Vietnamese market, which is one of the fastest growing in Asia, has surpassed a previous record of $1 trillion in the third quarter of last year.
Its gross profit for the year was $1 billion, according to Vietnamese media reports.
Vietnamese President Tran Dai Quang said in a statement that Vietnamese people had been fed up with long lines and low prices, and the new record was an important milestone.
“Today Vietnam is on the right path,” he said.
The Vietnamese Food Markets is one in four firms in Vietnam, and it is the largest private company in the country.
The market was hit by the coronavirus pandemic, with the number of people who have recovered from the disease on its list of priorities increasing.
Last year, the Vietnamese government said that it would invest $4 billion to help the market recover from the pandemic.