At the end of the 2025 fiscal year, WinCommerce (WCM), the operator of the WinMart/WinMart+ chain, announced a report updating business performance, with growth indicators in revenue and points of sale exceeding planned targets.

2025 marked the strongest pace of new store openings since Masan Group took over the retail chain in 2019, signifying a shift in market share acquisition strategy, especially in rural areas.

According to the updated report in December, WCM posted a total net revenue of VND39 trillion ($1.48 billion) in 2025, up more than 18 per cent on-year. This result surpassed the revenue growth target of 8–12 per cent set at the beginning of the year.

The growth momentum remained stable until the last month of the year. In December alone, WCM recorded a revenue of VND3.56 trillion ($135.53 million), a 19 per cent increase on-year.

In 2025, the company not only scaled up operation, but also improved the operational efficiency of existing stores. Like-for-like revenue growth across the entire system climbed 9 per cent against 2024.

In terms of network scale, 2025 saw a surge in new store openings. WCM opened a total of 764 new stores, far exceeding its target range of 400–700 stores under both base and high-growth scenarios.

In December, the chain opened 161 new stores. This was the highest number of new store openings in a single month ever recorded. On average, a new store opened every 5 hours. As of the end of 2025, WCM operates 4,592 stores nationwide.

Data analysing the structure of new store openings reveals a shift in geography and store model. There are 602 WinMart+ Rural stores out of 764 stores opened in 2025, accounting for nearly 80 per cent of the total new store openings.

Geographically, northern and central Vietnam were the two key focus areas for WCM’s expansion strategy.

The north recorded 409 new stores, while central Vietnam added 341 stores. Together, the two regions make up for 98 per cent of all new store openings during the 2025 fiscal year.

This strategic shift is underpinned by the significant potential of rural markets. According to data from the National Statistics Office and reports from the fast-moving consumer goods industry, over 61 per cent of Vietnamese population lives in rural areas. The rural retail market is estimated to be worth approximately $50 billion. However, modern, professional retailers have yet to establish a strong footprint.

WCM’s rural store model is designed with low investment costs, a product portfolio focusing on essential goods, and competitive pricing to suit the income levels of residents.

In practice, average daily revenue per rural WinMart+ store has improved from VND12.9 million ($490) to VND15 million ($570), based on data recorded in early 2025.

Efficiency and profitability

A highlight of the 2025 report is the quality of new store openings. Rather than pursuing scale alone, WCM reported that more than 90 per cent of new stores in 2025 surpassed breakeven of earnings before interest, taxes, depreciation, and amortisation at store level. This shows that network expansion is accompanied by financial efficiency, avoiding eroding profits from new, unprofitable points of sale.

A key factor supporting expansion into remote areas is logistics capability. Supra’s internal logistics system (launched in 2022), with its dry and cold storage clusters, has helped WCM reduce transportation costs by approximately 11 per cent for both general and fresh produce.

Previously, 2024 marked a significant milestone when WCM achieved positive after-tax profit for the first time after restructuring, laying the financial groundwork for a large-scale expansion in 2025.

The rapid penetration of modern retail channels into rural areas is taking place as traditional channels, such as wet markets and small grocery shops, face growing challenges around food safety and customer experience.

Rural markets are witnessing the emergence of modern grocery stores operated by young shop owners. This group possesses a dynamic business mindset, applies technology, and has a deep understanding of local consumer habits.

According to Kantar Worldpanel Vietnam, traditional grocery stores still account for a large share of rural retail sales –approximately 72 per cent in 2024 – but this share is gradually declining as mini-supermarkets and convenience stores gain traction.

Industry experts believe that in the 2024–2026 period, modern retail chains such as WinMart focus on capturing market share in rural areas before the market becomes saturated.

In 2026, the retailer aims to open 1,000-1,500 new outlets, averaging four new stores opened daily.

WinCommerce posts net profit in third quarter WinCommerce, the retail operator of WinMart and WinMart+ stores, recorded a profit for the first time since the COVID-19 pandemic, marking a pivotal achievement for Masan Group’s retail ambitions.

Masan poised to lead Vietnam’s evolving consumer market Rising disposable incomes and evolving consumption patterns in Vietnam present multi-billion dollar growth potential for businesses operating closed-loop retail ecosystems.

WinMart unveils “Russia Corner” – a unique destination for culture and shopping WinCommerce, a member of Masan Group, in collaboration with Magnit Group and leading distributors, launched Russia Corner at WinMart Royal City in Hanoi on June 12.

The Ministry of Health (MoH) on January 21 held a meeting in Hanoi to review the licensing and renewal of pharmaceuticals and vaccines during 2025 and orientation for 2026.

The event, chaired by Deputy Minister of Health Nguyen Tri Thuc, saw the participation of representatives of departments under the MoH, council members and experts.

Photo: MoH

The advisory council for the term of 2023-2026 operates according to the principles on regulating the registration of drugs and drug raw materials for circulation, as well as traditional medicines and medicinal herbs.

According to the council, in 2025 it reviewed nearly 9,500 applications, including more than 5,900 fresh applications, 2,400 renewal applications, and about 1,190 applications for amendments or additions.

The number of applications granted marketing authorisation in 2025 included more than 3,600 drugs, of which 43 were vaccines and biological products, the highest number since 2020.

Council members acknowledged that professional expertise is important, but legal issues are equally crucial. Therefore, any policy and institutional obstacles related to licensing, renewal, or issues related to the council’s operations, such as the low remuneration for experts reviewing and evaluating dossiers, need to be addressed promptly.

It was also suggested that the application of IT should be promoted to make it easier for council members to review and read clinical records.

Deputy Minister of Health Nguyen Tri Thuc. Photo: MoH

Deputy Minister Thuc highly appreciated and acknowledged the important contributions of teachers, and experts as members of the council for helping the management agency ensure the supply of medicines, vaccines, and biological products to serve the needs of epidemic prevention and control as well as exam and treatment.

He expressed his hope that in 2026, based on the increasing practical needs in people’s healthcare, the members of the council will continue to leverage their experience and dedication in performing the council’s functions and tasks to improve the quality of dossier evaluation.

“The intelligence and dedication of teachers and experts are valuable and worthy of respect. They act as a rigorous filter for the Drug Administration of Vietnam (DAV) and the Traditional Medicine Management Department before granting or renewing registration certificates for drugs, vaccines, and medical biological products,” he said.

The deputy minister requested the leaders of the DAV and the department to take note of the issues, promptly develop a plan to resolve them, and report to the ministry’s leadership.

Takeda’s partnerships to deliver innovative medicine and vaccines Global biopharmaceutical company Takeda is deepening collaboration with stakeholders to deliver innovative healthcare solutions in Vietnam, underscoring its commitment to creating sustainable values for the community.

Sanofi brings world’s first modular concept manufacturing facility to Singapore Sanofi announced on December 4 the inauguration of its state-of-the-art manufacturing facility, Modulus, in Singapore, marking a significant milestone in its commitment to delivering innovative healthcare solutions globally.

Promoting technology transfer for drug and vaccine production in Vietnam The Health Strategy and Policy Institute (HSPI) under the Ministry of Health held a conference on December 25 to promote technology transfer for drug and vaccine production in Vietnam.

How does AstraZeneca Vietnam’s (AZVN) corporate culture reflect its core mission of pushing the boundaries of science to deliver life-changing medicines?

It is a vivid reflection of its mission to push the boundaries of science for life-changing medicines, embedding a sense of purpose into the employee experience.

The 2024 AZVN Pulse Survey Results captured a workforce that feels strongly connected to the idea of being patient-oriented, highlighting a shared commitment to improving lives through scientific innovation. This mirrors the global value of putting patients first, where every decision is guided by patient needs, and underscores a culture where employees are motivated to contribute to transformative healthcare outcomes

This mission is further brought to life through an empowering environment, where employees feel inspired to exceed expectations and align with the goal of advancing science. With over 30 years in Vietnam, AZVN has consistently advanced healthcare solutions, supported by talent initiatives that cultivate future innovators.

How does the company maintain a culture of innovation while operating within the strict regulations of the pharma industry?

AZVN does this by creating an environment that encourages creativity and adaptability, even under constraints. The aforementioned Pulse Survey underscores a strong commitment to personal development, reflecting AZVN’s focus on empowering employees with the skills and mindset to pioneer new ideas while adhering to compliance standards, both within the company and to local Vietnamese law.

This aligns with the global emphasis on learning and development and the value of being entrepreneurial, promoting bold yet ethical approaches to challenges. Furthermore, AZVN’s sustainability strategy reinforces this balance by emphasising how the company does business, guided by values, investing in people, and operating responsibly with robust governance and ethics to build long-term value, resilience, and trust, ensuring innovation respects regulatory and ethical boundaries.

This spirit is supported by initiatives like leadership mentoring and open dialogues with leaders, which likely encourage the exchange of fresh perspectives while maintaining regulatory integrity.

AstraZeneca has been recognised as a top place to work multiple times. What specific aspects of the company culture do you think contributes most to this recognition?

AstraZeneca’s repeated recognition in this area, including the recent Best Place to Work in Asia 2025 by HR Asia, is rooted in a culture that champions inclusion, wellbeing, and an inspiring workplace environment.

Employee wellbeing is central to our culture, demonstrated through comprehensive programmes that support physical and mental health, ensuring staff feel holistically cared for. The LEED Gold-certified office in Hanoi, a pioneering achievement for a pharmaceutical company in Vietnam, exemplifies this by offering a sustainable, health-focused workspace that enhances morale.

What is the company’s future corporate culture strategy to foster inclusion, belonging, and safety?

We are building on a foundation of trust and empowerment, aiming to deepen these cultural elements through visionary initiatives.

The many internal initiatives that we are currently carrying out in the company (like sport initiatives, coffee chat with leaders, sharing your ethical stories, and hackathon challenges, for example) reflect a workplace where employees feel encouraged to express their opinions freely and are valued for their diversity, pointing to an existing culture of openness and acceptance that AZVN seeks to enhance.

This mirrors the global Inclusion and diversity mission to create an equitable space where everyone feels they belong, a core principle guiding all efforts.

AZVN is committed to focusing on programmes to sustain an inclusive and inspiring environment while nurturing future talent, as shared by leadership.

Initiatives like the recent updated and inclusive employee insurance policy represent a tangible step towards fostering belonging and safety, offering an environment that prioritises employee health and connection, aligning with broader goals of environmental and community impact. This holistic approach ensures employees feel secure to contribute and grow.

With the new development strategy themed “Cook Happiness Through Innovation”, the company is opening a new chapter, committed to bringing comprehensive happiness to consumers, employees, and the community. This is a breakthrough step, demonstrating the mettle of a pioneering and constantly innovating business.

In 1995, Acecook Vietnam started with Highclass Noodles packs with beef pho and chicken pho flavours, and quickly dominated the market with the Hao Hao brand, a product closely associated with the culinary life of Vietnamese people.

To date, Acecook Vietnam is a top enterprise in instant noodle market share with a distribution system of nearly 160,000 points of sale nationwide, and also a prestigious brand that brings Japanese-standard instant noodle production technology to Vietnam.

Entering the 30-year milestone, Acecook Vietnam announced a new vision with the goal of becoming a sustainable, global food supplier, aimed at expanding the product portfolio and building a comprehensive culinary ecosystem to meet the diverse needs of modern consumers.

Kaneda Hiroki, general director of Acecook Vietnam, said, “Acecook is confident that it has the necessary resources to transform strongly. Stemming from the desire to enrich the meals of Vietnamese people, we aim to build a comprehensive culinary ecosystem, fully meeting the increasingly diverse needs and consumer behaviours.”

In this expansion strategy, Acecook will gradually expand into product lines such as convenient spices, ready-to-eat foods and snacks that can replace main meals, Hiroki added. “All products will still maintain the core spirit that has made Acecook famous: rich taste, optimal convenience, safety and reliability, nutrition for health, and environmental friendliness, while contributing to solving social problems and improving the quality of life,” he noted.

Acecook Vietnam’s products are now exported to more than 40 countries

A business for society

In line with its development vision, Acecook Vietnam identifies its people as the guiding principle for building a sustainable corporate culture, inspiring creativity and accompanying the development of each individual. The company has implemented a new set of values with six core spirits: innovation, excellence, cooperation, integrity, autonomy, and responsibility.

In terms of products, the company is constantly innovating to meet the healthy lifestyle and the trend of living green and healthy. Improvements such as adding calcium in Hao Hao, vitamin B12 in Phu Huong noodles, and using real meat and vegetables in pho and instant noodles show a serious investment in public health.

Acecook Vietnam also implements many social programmes associated with spreading happiness. These include the Happy Noodle Packs programme, which donated millions of noodle packs to people in difficult circumstances, as well as students in remote areas and people affected by natural disasters.

The other is the Happy Trip project, taking disadvantaged children to visit big cities, broadening their horizons. In addition, the company also accompanies scholarship funds as well as medical and sports sponsorships, contributing to creating positive impacts in the community.

By the end of 2024, Acecook Vietnam had allocated a budget of more than $3.8 million for corporate social responsibility activities, according to data for 2021-2024.

Aiming to become a sustainable enterprise, currently, 54 per cent of Acecook’s factories use biomass fuel. The company targets to increase the rate to 80 per cent by 2030, aiming for green production and reducing emissions. It is also improving packaging, with 90 per cent of cup noodles, bowls, and trays using environmentally friendly paper materials.

It also nurtures an ambition to conquer the international market. Currently, the company’s products are present in more than 40 countries, with sales in 2024 reaching 239 million packs, an increase of 23 per cent over the previous year.

In the coming period, the company will focus on further expanding in key markets such as North America, Europe, and Asia, through cooperation with large-scale distributors. In addition, the firm is focused on developing products that suit local tastes: from Ippin cup noodles and Hello Pho bowls with pure Asian flavours, to Siukay with South Korean spicy noodles.

To meet the increasingly stringent requirements of the international market, Acecook has made products that meet many global standards, such as gluten-free certification, RSPO palm oil, and Halal certification for Muslim countries.