Vietnam now AEON’s leading investment destination

Giang Hoang Monday | 05/22/2023 15:06

Japanese giant has opened six shopping malls around Vietnam. Photo by VnEconomy.

As part of his working program in Japan, Prime Minister Pham Minh Chinh held meetings with leaders from the AEON Group and businesses from the central and southern regions of Japan.

Mr. Akio Yoshida, CEO of the AEON Group, said Vietnam is now the largest investment destination for AEON worldwide, with over $1.18 billion invested. It has opened six shopping malls in cities and provinces such as Hanoi, Ho Chi Minh City, Hai Phong, and Thua Thien-Hue.

According to the Prime Minister, Vietnam possesses five important foundational factors that allow AEON and other investors to expand their investments and businesses: identifying consumption as a driving force for growth; over 100 million people, with a young population and an increasing number of middle-class individuals, and striving to have high average incomes by 2030; the developing and thriving Vietnam-Japan relationship; Vietnamese people favoring Japanese goods; and itself offering a diverse range of goods, with strengths in agriculture, food, textiles and garments, and footwear, etc., which are aligned with global consumer trend towards sustainability.

Therefore, the Prime Minister proposed that the AEON Group consider Vietnam as a global business destination and continue investing in expanding shopping malls in cities and provinces with high per capita incomes, dense populations, and significant service and tourism centers, such as Quang Ninh, Ba Ria-Vung Tau, Thai Nguyen, Nghe An, Khanh Hoa, and An Giang provinces and the central highlands.

The Prime Minister also suggested that AEON enhance its imports and include Vietnamese goods in its global supply chains, focusing in particular on goods in which Vietnam has strengths.

“AEON will develop approximately 20 shopping malls in Vietnam, with a focus on supermarkets and entertainment venues,” said Mr. Yoshida. “Additionally, we will expand imports of Vietnamese goods and distribute them in over 20,000 commercial centers in Japan. AEON will also allocate scholarships to support Vietnam in human resources training.”

On the same day, the Prime Minister had a working session with representatives from Hiroshima University, the Satake Corporation, the Balcom Corporation, and the leaders of seven businesses from the central and southern regions of Japan.

The Prime Minister affirmed that the governments of both countries support cooperation, including the increasingly substantial and effective cooperation between businesses. He suggested that businesses from the central and southern regions of Japan continue to closely coordinate with Vietnam to promptly realize ideas in cooperation and investment and contribute to further deepening and substantiating the strategic partnership between the two countries.

Source: VnEconomy

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