After the merger [with the former provinces of Binh Duong and Ba Ria - Vung Tau], Ho Chi Minh City is further strengthened with a larger area, more abundant resources, and greater investment potential. Therefore, the city has significant room for corporations like H&M to expand their investments.

Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Van Dung made the statement when hosting Mr. Saed El-Achkar, President of East Asia Region, H&M Group (Sweden), on September 4.

Mr. Saed El-Achkar stated that H&M is one of the world's leading fashion retail groups, headquartered in Stockholm, Sweden. H&M was founded in 1947 and currently operates in over 75 countries and territories with more than 4,000 stores.

H&M has been present in Vietnam since 2017 with 14 stores nationwide, and in 2023, H&M established an online sales chain. In addition to retail activities, the Group has also partnered with manufacturing factories in Vietnam, creating jobs for tens of thousands of Vietnamese workers.

Mr. Saed El-Achkar expressed his desire to learn about the potential for expanding H&M's retail chain in Ho Chi Minh City, as well as to understand the procedures related to leasing locations and opening new stores in the city center.

Furthermore, the group will introduce digital transformation applications, innovation, and technology in production and trade to contribute to the development of a modern, sustainable, and environmentally friendly retail system.