VOV.VN - Since the beginning of the year Japanese manufacturers and retailers have continuously unveiled plans to expand their investment in Vietnam, while foreign direct investment (FDI) inflows from the East Asian country to the country during the opening two months of the year reached nearly US$146 million.

UNIQLO has opened two new stores, UNIQLO Vincom Royal City and UNIQLO Vincom Tran Duy Hung, in Hanoi this week.

VOV.VN - Fast Retailing Group, the parent company of Japanese global apparel retailer Uniqlo, has unveiled plans to expand its business network, promote domestic production, and train talents in Vietnam, including Hanoi capital.

VOV.VN - Popular Japanese fashion retailer Uniqlo have recently announced plans to open its first Hai Phong store this summer, taking their total number of stores to 11 in Vietnam.

The increasing presence of foreign giants has put great pressure on domestic retailers.

VOV.VN - Despite the adverse impacts caused by the COVID-19 pandemic, Japanese investors have continued to inject their money into the nation, according to industry insiders.

A recent report on the local fashion market of the Vietnam Industry Research and Consultancy (VIRAC) found that Vietnamese fashion brands are losing out in the local market, which is increasingly dominated by international brands.

While fashion fanatics will welcome the ever-increasing presence of international brands, the domestic consumer base has already lost a significant portion of its purchasing power amid the influence of the global health crisis on the economy, forcing domestic brands to face increased competition with new strategies to retain their business.

A leader of Ho Chi Minh City has pledged to support the expansion of the Japanese global apparel retailer Uniqlo in the southern largest economic hub.

VOV.VN - The advantages of joining new-generation free trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA) are expected to provide a fresh impetus for the local retail market to grow following a gloomy period caused by the COVID-19 pandemic, according to insiders.