Japan giant Aeon plans 2 new malls for Vietnam
Aeon is speeding up work to develop two new shopping malls in Vietnam, which the Japanese retail giant has described as "the most significant market in Southeast Asia".
An Aeon Mall sign used by Aeon Group. Photo courtesy of the company.
Aeon Mall Vietnam signed a memorandum of understanding (MoU) with officials of Dong Nai province on Sunday to accelerate the former’s $268 million investment for a shopping mall in Bien Hoa town, capital of the southern province that neighbors Ho Chi Minh City.
The signing took place on the sidelines of Japanese Prime Minister Kishida Fumio’s three-day visit to Vietnam to boost the two countries’ economic and security ties.
The signed MoU seeks to accelerate development of the planned mall. Aeon Mall Vietnam CEO Nakagawa Tetsuyuki said he committed to carry out procedures on investment, land use, construction and other related issues under Vietnamese laws to put the project into operation "at the soonest".
The retailer also committed to closely work with Dong Nai officials in promoting the province’s business environment among Japanese companies and investors.
Aeon had earlier planned to build two malls in Dong Nai – one for the 2021-25 period and the other for 2026-2030.
In 2020, Aeon Group said it would invest $2 billion expanding its presence across Vietnam, eyeing a total of 25 malls by 2025. It was then operating five malls in the country – two malls in Hanoi, two in HCMC and another in adjoining Binh Duong province. The Japanese group entered the market in 2013.
Also, on the sidelines of the Japanese Prime Minister’s visit, the CEO of Aeon Mall Vietnam secured Thua Thien-Hue province’s green light to build a mall in the iconic town of Hue, with a total investment of VND3,916 billion (around $170.5 million).
The detailed timelines for the project of more than 86,000 square meters have been not made known, but Aeon plans to put it into operation during 2023.
Aeon’s announced-in-2020 strategy of expanding in Vietnam is to build centers in suburban districts rather than downtown locations, shaping its offer to local communities and mixing local goods with imported products.
Aeon Vietnam already has a program in place that boosts exports of Vietnamese goods to stores it operates outside the country.
- Related News
- Read More
Hoa Binh Construction wins $5 bln contract for mega urban project in southern Vietnam
Vietnam's leading contractor Hoa Binh Construction Group has secured a contract to build the first phase of a mega urban area project in Vietnam’s southern metropolis of Ho Chi Minh City.
Real Estate - Mon, September 8, 2025 | 9:22 pm GMT+7
Vietnam's monetary policy remains accommodative: WB
Vietnam's monetary policy has remained accommodative, as State Bank of Vietnam (SBV) interventions contained foreign exchange pressures and increased credit growth, the World Bank Group said in its country economic update.
Economy - Mon, September 8, 2025 | 7:46 pm GMT+7
Property, technology, energy among sectors recording highest M&A activity in Vietnam
Vietnam’s M&A landscape in July recorded 34 completed transactions with the total disclosed and estimated deal value of $786 million, according to Grant Thornton Vietnam.
Economy - Mon, September 8, 2025 | 3:49 pm GMT+7
Vietnam's Van Thinh Phat-tied firm incurs $14 mln loss in H1 as legal woes persist
Bong Sen Corp, the hotel and property arm of troubled Van Thinh Phat Group, posted a net loss of nearly VND356 billion ($14 million) in the first half of 2025, its filing to the Hanoi Stock Exchange (HNX) showed.
Companies - Mon, September 8, 2025 | 3:24 pm GMT+7
Airport-centric urbanization - Vietnam’s new growth engine
In the past, cities in Vietnam would build airports to meet growing transportation needs, but today, airports themselves are becoming the nucleus around which new urban areas emerge.
Real Estate - Mon, September 8, 2025 | 1:36 pm GMT+7
Vietnam’s 8.3-8.5% growth target for 2025 ‘appropriate’: policy advisory council
The Vietnamese government’s GDP growth target of 8.3-8.5% for 2025 and double-digit expansion for 2026-2030 is "appropriate" in the context of favorable macroeconomic conditions and structural reforms, according to the Prime Minister’s Policy Advisory Council.
Economy - Mon, September 8, 2025 | 1:03 pm GMT+7
Enertrag SE proposes 55 MW wind power project in northern Vietnam
The Bac Ninh province People’s Committee is seeking public and ministerial feedback on a 55 MW wind power plant initiated by Enertrag Vietnam Co., Ltd, a subsidiary of German-based global renewables developer Enertrag SE.
Energy - Mon, September 8, 2025 | 11:29 am GMT+7
Southern Vietnam airport project Long Thanh on fast track, test flights set for December
Construction of the Long Thanh International Airport in the southern province of Dong Nai is progressing on schedule, with calibration flights for Runway 1 planned for September 25 and a technical test flight expected on December 19.
Infrastructure - Mon, September 8, 2025 | 11:13 am GMT+7
Why Vietnamese agricultural machinery major VEAM shares on sidelines of market rally?
While Vietnam’s stock market has surged in recent months, sending the benchmark VN-Index from around 1,090 points to nearly 1,700, state-controlled VEAM’s stock VEA has remained flat, trading sideways at around VND39,000 ($1.48) per share over the past year.
Companies - Mon, September 8, 2025 | 8:30 am GMT+7
New train helps tourists explore landmarks of Hanoi, Bac Ninh province
The Hanoi Train officially began operation on Saturday, offering visitors a new way to explore the capital’s landmarks and travel to Tu Son in Bac Ninh province.
Travel - Sun, September 7, 2025 | 8:20 pm GMT+7
Vietnam’s e-motorbike market enters stage of fierce competition
Vietnam’s electric motorbike market is entering a new phase of intense competition as domestic and foreign manufacturers are accelerating their expansion, diversify products, and invest heavily in infrastructure.
Companies - Sun, September 7, 2025 | 6:06 pm GMT+7
HCMC fast-tracks rail projects proposed by private conglomerates
The Ho Chi Minh City People’s Committee has asked municipal agencies to work with major private conglomerates to finalize investment plans for the railway projects they proposed.
Infrastructure - Sun, September 7, 2025 | 1:52 pm GMT+7
Vietnam's Finance Ministry targets 60% public investment disbursement by end-Q3
Vietnam’s public investment disbursement reached VND409.17 trillion ($15.49 billion) in the year to August 31, equal to 39.9% of the year's plan and 46.3% of the Prime Minister’s target, the Ministry of Finance (MoF) reported.
Economy - Sun, September 7, 2025 | 10:53 am GMT+7
Vietnam posts nearly $14 bln trade surplus in 8 months
Vietnam recorded a trade surplus of $13.99 billion in the first eight months of 2025, according to the General Statistics Office under the Ministry of Finance.
Economy - Sun, September 7, 2025 | 10:41 am GMT+7
S&P upgrades ratings of three Vietnamese banks, citing resilient economy
S&P Global Ratings has raised the long-term credit ratings of three major Vietnamese banks, reflecting the stronger resilience of the country’s financial system and continued above-average economic growth.
Banking - Sun, September 7, 2025 | 10:34 am GMT+7
Luong Nguyen Minh Triet appointed top leader of central Vietnam hub Danang
Luong Nguyen Minh Triet, deputy Party chief of Danang and Chairman of the municipal People's Committee, has been appointed the city's Party chief - the highest position in the locality.
Politics - Sun, September 7, 2025 | 9:53 am GMT+7
