For a population of nearly 100 million, of which the majority is at young age and with steady growth of income per capita, Vietnam is considered a potential market for fashion retailers.

Vietnam is on track to become one of the biggest consumer markets in the world, said Japan’s richest man and CEO of Fast Retailing Tadashi Yanai.

The additional supply drives up Hanoi's retail space to roughly 1.2 million square meters in the fourth quarter 2019.

In the next five years, Vietnam's contribution will rise to 25% from the current 17% to revenue of Central Retail, said the company’s CEO.

As the occupancy rate dropped due to impacts of the pandemic, landlords rolled out supportive measures.