Hung Yen (VNA) – Central Retail in Vietnam has received an investment registration certificate to develop a 18.2 million USD mall under its GO! brand in Vietnam’s northern province of Hung Yen.
At a conference to announce the provincial master planning scheme and promote investment in Hung Yen on July 7, Christian Olofsson, Property President at Central Retail Vietnam, noted the retailer has recently started the construction of its GO! mall in Hung Yen. The 1.6-hectare facility is set to open in 2025, offering over 40,000 products, including local specialties and "One Commune-One Product" (OCOP) items.
Central Retail entered Vietnam in 2012 and its retail network currently covers 42 cities and provinces across the country, with over 1 million square meters of retail space and 340 stores. Its team of 15,000 employees serves over 390,000 customers daily, he added.
The retailer sees Vietnam as a key market and plans to expand its network to 58 provinces and cities, both urban and rural, the executive added.It is committed to supporting Vietnamese farmers and local products, such as Hung Yen longan, through its extensive network across the country, Olofsson stressed.
The Ministry of Planning and Investment and Hung Yen authorities also granted investment registration certificates and in-principle approvals to 24 projects at the conference. These included 19 foreign-invested projects worth 630 million USD and five domestic ones worth 10 trillion VND (393.6 million USD).
Central Retail in Vietnam posted revenue of 400.6 million USD in the first quarter of 2024, up 4.6% year-on-year, according to the firm’s financial statement./.
