Japanese retailer Aeon ready to open its first central Vietnam mall in Sept
Japanese retailer Aeon is set to launch a mall in Thua Thien Hue province, its first in central Vietnam and seventh in the country, on September 16.
A delegation of the project’s contractors made the statement to Phan Quy Phuong, Vice Chairman of Thua Thien Hue province, while Phuong conducted an on-site visit to check the project’s progress on Monday.
Thua Thien Hue Vice Chairman Phan Quy Phuong (center) makes an on-site check at Aeon Mall Hue, in Thua Thien Hue province, central Vietnam, on July 15, 2024. Photo courtesy of Aeon Mall Vietnam.
At the construction site, Phuong hailed the project’s progress and asked relevant authorities to facilitate the investors to fulfill tasks related to fire prevention, licenses for shops within the mall, and others.
The construction of the facility, called Aeon Mall Hue, with an investment of VND3,916 billion ($167 million), kicked off in February 2023. The mall, located in Hue town, covers 8.6 hectares. This will become the biggest service and trade center in Vietnam's central region, adding values to Hue as a top tourist attraction.
Aeon is operating six malls in the country - two in Hanoi, one in Hai Phong city, two in Ho Chi Minh City, and one in nearby Binh Duong province.
Aeon earned an operating income of JPY1,332 million ($8.44 million) in Vietnam in the first quarter of its fiscal year 2024 (March-May 2024), up 21.9% year-on-year. The retailer recorded operating revenues of JPY4,013 million ($25.42 million) in the three-month period, up 13.8% year-on-year.
In January 2024, Aeon Vietnam, a joint venture between Japanese retailer Aeon and local business Viet Phat Group JSC, kicked off construction of a 13-hectare mall with an investment of VND5,200 billion ($214 million) in the northern province of Quang Ninh. The facility, located near the famous tourism destination of Ha Long Bay, is expected to employ about 2,500 people and serve 10 million customers a year.
In May, Aeon Vietnam began building the Aeon Tan An shopping center with an investment of over VND1 trillion ($39.3 million) in the southern province of Long An. This will be its first in the Mekong Delta of Vietnam. Covering 2.1 hectares, construction is set for completion in August 2025, and the shopping center is expected to employ 600 locals.
- Related News
- Read More
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7
Indonesia's economy grows faster than expected
Indonesia's economy expanded by 5.12% year-on-year in Q2/2025, up from 4.87% in the previous quarter, exceeding the forecasts of many economic organizations, which had previously projected a rate of less than 5%, according to Statistics Indonesia (BPS).
Southeast Asia - Thu, August 7, 2025 | 8:07 am GMT+7
Philippine energy group eyes investment in Vietnam’s power sector
AboitizPower wants to invest in Vietnam’s electricity industry, especially in transmission infrastructure, said Danel Aboitiz, executive director of the corporation.
Energy - Wed, August 6, 2025 | 11:11 pm GMT+7
Vietnam seeks 8.3-8.5% economic expansion for 2025
The Government has requested the State Bank of Vietnam to proactively adjust the credit growth aim for this year in line with a GDP expansion target of 8.3-8.5%.
Economy - Wed, August 6, 2025 | 10:41 pm GMT+7
Japanese investment in Vietnam shifts toward service, trade, and technology: bank exec
Japanese investment in Vietnam is seeing a notable shift, with sharp increases in the services, trade, and technology sectors, while investment in manufacturing has slowed, said Abe Ryota, a senior economist at Sumitomo Mitsui Banking Corporation (SMBC).
Economy - Wed, August 6, 2025 | 4:06 pm GMT+7
