Business

Saigon Coop to be in top 100 world cooperatives: Chairman Phong

SGGP
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong believed that the country’s leading retailer Saigon Union of Trading Cooperatives, known as Saigon Co.op, will enter the world top 100 cooperatives.

Chairman Phong speaks at the meeting (Photo: SGGP)

Chairman Phong speaks at the meeting (Photo: SGGP)

He made the statement while attending Saigon Co.op’s delegation congress for the tenure 2020­ - 2025. He wanted Saigon Co-op to make more efforts to become leading retailer of Vietnam.
Speaking at the congress, Chairman Phong highly appreciated and praised the cooperative’s achievement proving the Party’s good role in implementing Saigon Co.op’s political mission.
Mr. Phong also pointed out the remaining and shortcoming of the cooperative such as low growth compared to the goal. Moreover, Saigon Co.op has been slow in carrying out major projects including IT investment project and the construction project of a distribution center in the Southern Province of Binh Duong.
In the next time, Chairman Phong said, city authorities has approved the plan to develop its commerce sector to 2025 with the vision to 2030. In the plan, HCMC will become one of the Southeast Asian region’s important center of trading, commerce, finance and service. Accordingly, the retail proportion in the distribution channel must reach to 50 percent by 2025 and 60 percent by 2030.
When it comes to the mission in the period 2020 – 2025, Chairman Phong emphasized that the cooperative must keep its nature. From the first retail supermarket Co.opmart in Cong Quynh Street in 1996, it has had 849 retail outlets in 43 cities and provinces across the country after 30 years.
Generally, Saigon Coop must maintain to be leading retailer in the Southeast Asian country especially in the fierce competition with other multinational retailers such as Aeon, Lotte, Big C, Mega Market. This is also the mission Saigon Coop must undertake, Mr. Phong stressed.
He suggested Saigon Co.op taking heed of sustainable growth for supermarket chains Co.opmart and the open of more retail stores in railway stations and construction sites, the construction of the An Phu commercial and residential complex center, the Sense City Commercial center and commercial centers in cities and provinces countrywide.
Simultaneously, according to Mr. Phong, Saigon Co.op needs to connect with international cooperatives to join in the global value chains. He believed that Saigon Co.op will enter the top 100 world cooperatives to become the city’s pride.
He affirmed that city authorities will facilitate to help Saigon Co.op arising to the international level. He asked the Saigon Co.op Party to develop the cooperative’s role in market stabilization program.

By Manh Hoa - Translated by Dan Thuy

Other news