Japan’s AEON to build US$300-million shopping mall in Hanoi
AEON set to double its goods imports from Vietnam to US$500 million by 2020, and US$1 billion by 2025, especially when Vietnam could potentially become a high quality food supplier to Japanese consumers.
Japan’s retailer group AEON plans to build a new shopping mall with investment capital of US$280 million in the south of downtown Hanoi, according to Yasutsugu Iwamura, CEO of AEON Japan and AEON Mall Vietnam.
Prime Minister Nguyen xuan Phuc (r) and Yasutsugu Iwamura, CEO of AEON Japan and AEON Mall Vietnam (l). Source: VGP.
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By 2025, the retailer group expected to complete the construction of 20 shopping malls in Vietnam, Iwamura continued.
As of present, AEON has four shopping malls in operation and two under construction in Vietnam.
Iwamura expressed hope AEON would contribute a significant part in the Vietnam – Japan strategic partnership, while expanding its investments in the country’s retail sector and boosting Vietnam’s exports to Japan, particularly agricultural products.
According to Iwamura, AEON set to double its goods imports from Vietnam to US$500 million by 2020 and US$1 billion by 2025, especially when Vietnam could potentially become a high quality food supplier to Japanese consumers.
In 2018, AEON imported goods and products worth US$250 million from Vietnam to insert them in its distribution network in Japan, he added.
At the meeting, PM Phuc highly regarded AEON’s business in Vietnam, including its efforts to bring Vietnamese products to Japan’s market.
Phuc supported AEON’s plan to build a modern shopping malls in Hanoi and considered it an necessary move, requesting local authority to create favorable conditions for the group.
The success of AEON n Vietnam would be a symbol of the friendship between Vietnam and Japan, Phuc stressed.
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