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Business trends

In Vietnam's nearly untapped market, foreign retailers dream big

Convenience store chains battle to modernize a sector built on small business

The first Vietnamese outpost of South Korea's E-Mart superstore chain has proven to be a hit with shoppers, and several more locations in Vietnam are expected. (Photo by Atsushi Tomiyama)

HANOI -- Retailers from across Asia are flooding into Vietnam as the country loosens restrictions on foreign companies, racing to bring convenience stores and supermarkets to a market dominated by small business.

Among foreign companies, manufacturers such as South Korea's Samsung Electronics have long seen the value in Vietnam, despite the country lagging behind its Southeast Asian peers in economic development. Now retailers are following suit.

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