The
French-invested retailer BigC last week received a heavy slap from one of its
Vietnamese partners.
Tasco Thien Truong Joint Stock Company, based
in Nam Dinh province, forced BigC to close its 4,300-square metre supermarket
in Nam Dinh city for one day by placing a 35-metre long crane at the shopping
centre’s main gate and a excavator at the auxiliary gate.
EB Nam Dinh Company Limited, on behalf of
BigC, and Tasco opened this $4 million supermarket in early January, 2011. This
BigC’s 14th supermarket in Vietnam sits on land owned by Tasco.
A source from BigC Thang Long in Hanoi said
that although the supermarket had been functioning since January 2011, some of
the procedures for the BigC-Tasco cooperative effort have not been completed
and some matters required additional negotiations.
“However, instead of negotiating, Tasco
decided to park large pieces of construction equipment at the entrances of
BigC. This was an illegal action and one that was unhealthy in terms of
business. It must be said that the provincial authorities welcome BigC’s business
presence in Nam Dinh,” the source said.
“BigC is not in the wrong and we have and will
continue to abide by all Vietnamese laws,” the source stated. The source did
not comment on when the remaining procedures would be completed. But it said
that BigC would not be intimidated by such extreme and untoward action by Tasco
because BigC is a “large business enterprise with extensive business
experience.”
“This is the second time that Tasco has
attempted to do a nasty trick to BigC. The first time Tasco attempted to do the
same thing but we stopped them,” the source said.
Local media quoted a Tasco representative as
saying that EB Nam Dinh had intentionally delayed completing necessary
procedures which would result in the supermarket site being transferred to EB
Nam Dinh. In addition, it was charged that EB Nam Dinh interjected a number of
items that were not in the original agreement between the two sides even though
the supermarket had been operating on EB Nam Dinh’s land for more than one
year.
The BigC Thang Long source argued: “Tasco
should think about why the final procedures have been delayed. It must bear
responsibility for this uncomfortable situation.” Further negotiations between
the parties would take place.
Khoi Nguyen | vir.com.vn |
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment