In recent years the retail market in Vietnam has developed rather strongly, reaching a growth rate of over 20% and is expected to reach 25% this year. The retail turnover was about 37.5 billion USD in 2006, increased to 42.5 billion USD in 2007 and will reach 53 billion USD by 2010. On January 1, 2009, Vietnam will fully open its retail market, which will provide a great opportunity for foreign retail groups to do business in Vietnam, at the same time pose challenges to domestic businesses.