Japanese retail giant AEON to open 3 new outlets in Vietnam

Tezuka Daisuke, CEO and chief representative of AEON Vietnam, revealed the plan at a recent press conference in Ho Chi Minh City.

One of the three new projects is AEON Tan An Shopping Center, with a gross floor area of 26,700 square meters in new Tay Ninh Province, which was formed after a merger with Long An Province, and a total investment of more than VND1 trillion (US$38 million), according to Dien Dan Doanh Nghiep (Business Forum) magazine.

Scheduled to open on October 4, AEON Tan An will be AEON Group’s eighth shopping center in Vietnam and the first in the Mekong Delta.

In addition, AEON Vietnam will launch two general merchandise stores this year, one in northern Hung Yen Province and another in Ho Chi Minh City.

“We see Vietnam as a dynamic market with stable growth. That's why we are expanding here,” Daisuke said.

He added that AEON Vietnam expects revenue to grow 30 percent this year, fueled by rising consumer demand.

Since opening its first mall in Vietnam, AEON Tan Phu in Ho Chi Minh City, the group has invested about $1.5 billion in the country, which the CEO noted is AEON’s second-most important market after Japan.

Daisuke revealed that the group plans to triple its investment in Vietnam by 2030 through new developments, partnerships, and acquisitions.

“While the current average growth of domestic retail sales is around 7.5 percent, we forecast it could reach 12 percent in the near future,” he added.

The CEO further noted that food products sold through modern retail channels currently account for only 12–13 percent of the market in Vietnam, far below levels in other regional countries, leaving significant room for expansion.

According to the latest report from the Ministry of Industry and Trade, Vietnam’s retail sector is projected to reach $350 billion by 2025, contributing 59 percent to the country’s GDP.