Vietnam: AEON to invest US$2bn

Soo-Eng Tan
Senior Retail Analyst

Date : 06 March 2020

AEON will continue to expand across Vietnam with the goal of building 20 more shopping centres.

Commitment to the market

AEON launched its first mall, Celadon City, in 2013 in a suburb of Ho Chi Minh City. In a visit last August, chairman of AEON Japan, Hiroshi Yokoo, named Vietnam as “the most significant market of the company in Southeast Asia”. Its board members also toured the Celadon City mall and held a meeting in Ho Chi Minh City.

Fifth shopping centre opened in Hanoi

In December 2019, AEON Vietnam opened its fifth shopping centre in the Duong Noi commune at Ha Dong. It covers 150,000sqm, has about 220 tenant stores and the AEON hypermarket as anchor. The general director of AEON Mall Vietnam, Iwamura Yasutsugu, says the company is planning 25 malls across the country. AEON’s strategy is to build shopping centres in suburban districts, shaping its offer to local communities and mixing local goods with imported products. It also has a program to boost exports of Vietnamese goods to stores it operates outside the country.