Central Retail to invest over 829 million USD in Vietnam in next 5 years

Central Retail is running commercial centres and stores in 40 cities and provinces across Vietnam. (Photo: VNA)

Hanoi (VNA) – Thai retailer Central Retail Corporation has unveiled a five-year plan to invest more than 30 billion THB (829.34 million USD) to expand its operations in Vietnam.

Olivier Langlet, Chief Executive Officer of Central Retail Vietnam, said between 2022 and 2026, Central Retail Vietnam aims to become a multi-channel platform and the leading food and commercial centre business in Vietnam, raising its revenue to 100 billion THB, and expanding its operations in 55 out of 63 Vietnamese cities and provinces.

Langlet said Central Retail began its investment in Vietnam in 2012 and sees the country as a key market with annual revenue rising to nearly 38.6 billion THB within 10 years, making up 22 percent of the corporation’s revenue.

Along with other business fields, Central Retail is running commercial centres and stores in 40 cities and provinces across the Southeast Asian nation.

According to the CEO, the group has contributed to local socio-economic development by creating jobs for Vietnamese people and supporting local farmers, and helped to boost cooperation between Vietnam and Thailand through various projects./.

VNA