Deputy Prime Minister Vuong Dinh Hue (R) and AFS Chairman Masaki Suzuki (Photo: VNA)

Hanoi (VNA) – The AEON Financial Service (AFS) Co. Ltd., the owner of Japan’s AEON retail chain, wants to expand its financial services in Vietnam through merge and acquisition activities, said AFS Chairman Masaki Suzuki.

In a meeting with Deputy Prime Minister Vuong Dinh Hue in Hanoi on February 25, the AFS leader pledged long-term investment in Vietnam to contribute to the country’s consumer finance market.

He said that AEON considers Vietnam a key investment destination in the region with the group planning to pour some 5 billion USD into shopping malls around the country, raising the total to 30 malls and creating jobs for 50,000 local labourers.

The host, for his part, applauded the firm’s strategy to expand investment in Vietnam, saying that besides bolstering exports, the Vietnamese Government is also interested in developing the domestic retail market.

The total retail sales of goods and services in Vietnam in 2018 rose 12 percent year-on-year, he said, adding that the AEON shopping mall model has been widely preferred by Vietnamese consumers thanks to its integration of business activities and many other services.

He also lauded AEON for bringing Vietnamese products to its shelves and shipping local goods to AEON chains worldwide, and described it as a sustainable development strategy that AEON should pay more attention to.

Hue voiced his support for AEON’s plans to expand investment in the financial sector in line with market regulations, helping to improve the capacity and business efficiency of both AEON itself and payment methods in Vietnam.–VNA