Hanoi will build three shopping malls, ten supermarkets, and 100 convenience stores, with the aim of turning the trade industry into a high-quality and high-value-added trade-service sector.

Big C Thang Long supermarket in Hanoi. Photo: Thanh Hai

This is one of the highlights of the Hanoi People's Committee's latest plan to overcome weaknesses in business infrastructure investment and development, which was pointed out at the 2021 city review conference.

The purpose of the plan is to improve the quality of the retail industry, making it consistent with the objective of turning the city into an international trade center for the region and the country.

To accomplish this goal, Hanoi will promote the involvement of the private sector in investment, business management, and exploitation of local markets.

The capital city will support expanding the scale, diversifying types as well as speeding up investment procedures to build a number of trade centers in the western districts, namely Tay Ho and Hoang Mai according to current regulations.

Over the years, the city People's Committee has taken specific solutions to remove obstacles in the development of the commercial infrastructure in the city, including improving the system of markets, trade centers, shopping malls, and convenience stores. However, the results have not met the set goals so far.

Obstacles are mainly related to mechanisms, policies, planning, land, investment capital and incentive mechanisms, and the impact of the Covid-19 pandemic.

In 2021, two markets, two shopping centers, two supermarkets, and 100 convenience stores were put into operation.