A joint venture between G7 Mart and Ministop has just been founded after Trung Nguyen Group, Vietnam and Aeon Group, Japan had reached the deal.

Trung Nguyen President, Dang Nguyen Vu, said that the joint venture will deploy a network of small convenient marts in Vietnam.

In the first phase, the two groups will invest US$ 10 million in the joint venture, in which Trung Nguyen will hold 57 per cent of the total shares.

In the second phase, the joint venture will further be funneled in an effort to open 100 marts a year.

Under the schedule, the joint venture will open its first mart in May 2011.

In 2006, Trung Nguyen started to set up small convenient marts in Vietnam, yet the city mart chain has so far operated ineffectively.

Source: TT

Translated by Thu Nguyen