IPPG and China Duty Free to open 3 duty-free outlets in Vietnam

This first store will open in Quang Ninh Province this year.

Vietnamese conglomerate Imex Pan Pacific Group (IPPG) signed a deal with state-owned China Duty Free to open three duty-free shops in Vietnam targeted at Chinese tourists.

In a statement, IPPG Chairman Jonathan Hank Nguyen said the first store will be launched in Mong Cai in Quang Ninh Province this year.

The second store will open next year in Nha Trang in Hkan Hao Province, whilst the third will open in downtown HCMC with no date yet.

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IPPG said Vietnam targets 18 million foreign arrivals this year, at the same level in 2019, with tourism revenues of $34b. China was the largest tourist source before COVID-19, comprising 30% of foreign arrivals in 2019.

In the first quarter, Vietnam recorded 890,000 visitors from China, surging by 635% year-on-year.