Business

Japan’s retailers interested in Vietnamese market

The Japan-based Aeon Group is expected to inaugurate its first trade centre in Ho Chi Minh City early next year in a bid to establish an extensive retail system in Vietnam in the time to come, according to Investment newspaper.
The Japan-based Aeon Group is expected to inaugurate its first tradecentre in Ho Chi Minh City early next year in a bid to establish anextensive retail system in Vietnam in the time to come, according toInvestment newspaper.

The Japanese retail giantwill open its second shopping centre in southern Binh Duong provincenext October and another centre in Hanoi by 2015.

The group, with its representative office opened in Vietnam in2009, worked out its plan to invest in the Vietnamese retail marketsince 2011 and took steps right after that to realize its scheme.

FamilyMart is another Japanese investor that invested in Vietnam’s retail market.

The Japanese convenience store chain plans to launch a total of 20stores in Ho Chi Minh City by the end of 2013 and expand itsoperation to Hanoi by late 2014.

It is currently seeking domestic partners to create a joint business for the expansion of the convenience store system.

In addition, last year, Japan ’s Sojitz Group purchased 51 percentof the shares of Huong Thuy Manufacture Service Trading Corporationthat provides food and drinks for around 4,000 stores nationwide.

The move is considered as part of Japanese investors’ trend to shift their investment portfolios in Vietnam .

Japan now ranks first among 100 countries and territories investing in Vietnam.

As of the first 11 month of this year, Japanese businesses invested more than 5.6 billion USD in the country.-VNA
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