Egypt, Malaysia and Vietnam Retail Report Q2 2016; New Report Launched

A continuing increase of overall economic activity will help to boost total household spending in Egypt throughout 2016. After the terrorist attacks in 2015, the country's tourism sector will suffer from a short-term decline in tourist inflows. However, improvements in the labour market will lead to higher household revenues and spending. Large retailers, such as LuLu Group and MAF Group, will continue their push into the country as its MGR sector modernises rapidly.

Key Views And Developments

• Dubai-based shopping centre developer Majid Al Futtaim Group has announced the plan to build the third City Centre mall in Egypt at an investment of above USD500mn. The new shopping centre will have 103,500 square metres (sq m) of retail area and is planned to open in Q1 2019.
• LuLu Group, an Abu Dhabi-based hypermarket operator, is moving forward with a plan to open 10 new LuLu hypermarkets in 2016-2017. The expansion will cost the retailer USD300mn.
• Saudi Arabia's Abdullah Al-Othaim Markets Company, is a large player in the MGR segment and is investing USD38mn in Egypt to open retail and wholesale stores in the country.

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In 2015, Malaysia's retail market suffered from the rapid depreciation of ringgit as well as the introduction of the Goods and Services Tax, which significantly dented sales, particularly in the second half of the year. While these factors will remain in play during the first quarters of 2016, we believe the country's retail sales will recover in 2016 on account of sustained Malaysia's economic growth, rising household incomes and accommodative monetary policy. That said, we note that precipitous household debt levels pose a downside risk to our forecasts, especially over the medium term.

Latest Updates & Developments

- CJ O Shopping Co, a home shopping unit of CJ Group, in a joint venture with Media Prima TV Networks, will launch a new shopping channel in Malaysia in the first half of 2016.

- In early 2016, GCH Retail, Dairy Farm's subsidiary in Malaysia, said it will open six new hypermarkets in 2016 and renew 28 stores. The new outlets will be situated in Setapak (Kuala Lumpur), ICangar (Kedah), Kota Baru (Kelantan) and Jeneh (Terenggam), with the final two locations yet to be announced.

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In the long term, the outlook is good for Vietnam's retail sector. Modern retail has made significant inroads into the largest cities, and as incomes rise and infrastructure improves, more people should be able to access modern retail opportunities. The government is welcoming of foreign investment into the retail industry, and those firms already in the market stand to benefit as mergers and acquisitions become more commonplace. However, the population is still largely rural, with little appetite for significant retail spending, and incomes are generally low, meaning that opportunities for retailers in non-essential segments are limited.

We forecast strong economic growth, with real GDP growth estimated at 6.4% in 2015, rising to 6.6% in 2016 before falling back slightly over our forecast period, to reach 6.2% in 2020. Increasingly strong trade links, such as the ASEAN Economic Community and the Trans-Pacific Partnership, should provide growth opportunities in coming years, and make the business environment more supportive of foreign investment. The country has seen a significant amount of foreign direct investment (FDI) from international retailers as demand for Western-style retail experiences has increased. Mass grocery retailer (MGR) has been an attractive segment of international expansion.

For more information Visit at: http://www.marketresearchreports.com/business-monitor-international/vietnam-retail-report-q2-2016