MM Mega Market Vietnam proposes hypermarket project in northern Vietnam province

Thailand-invested MM Mega Market Vietnam is searching for a location in Vinh Yen town, capital of the northern province of Vinh Phuc, to build a hypermarket.

Bruno Jousselin, CEO of MM Mega Market Vietnam, made the proposal at a meeting with Tran Duy Dong, Chairman of the Vinh Phuc People's Committee, on Thursday.

Jousselin expressed high regard for the province’s geographical location, infrastructure, and investment attraction policies. He proposed that the people's committee facilitate its search for suitable investment locations and streamline project procedures in line with regulations.

During the meeting, Chairman Dong noted the significant demand for commercial transactions and shopping in the province, adding that Vinh Phuc is yet to have a commercial center at a suitably high level.

He expressed support for the company's proposal and instructed the Department of Construction, the Center for Investment Promotion and Enterprise Support, and relevant departments to collaborate with MM Mega Market Vietnam in identifying investment locations that align with the province's planning and land use plan for Vinh Yen town.

Dong also urged the company to review potential investment locations based on suggestions from provincial departments to ensure that they are suitable and convenient for site clearance.

The chairman recommended that the company consider leasing existing premises in urban areas within the province to expedite the project’s development.

MM Mega Market Vietnam, a subsidiary of Thailand's TCC Group, primarily focuses on trade and services. After 23 years of operation, the company has expanded its network to include 21 supermarkets, seven warehouses, five logistics centers, two central distribution centers, and two warehouses for fresh products. The firm employs over 4,000 people and has over 2,000 suppliers across the country.

MM Mega Market Vietnam last November broke ground on its first department store in Vietnam, signalling a strong commitment to expanding its presence in the Southeast Asian nation.

The facility, costing nearly $20 million, spans 19,197 square meters on Nguyen Sinh Sac street in Lien Chieu district of the central city of Danang and incorporates recyclable and energy-saving materials. The MM Mega Market Danang is expected to come on stream in late 2025.

SK Group’s subsidiary seeks to expand in Vinh Phuc

On the same day, during a meeting with ChairmanDong, Yoo Jin-Han, chief financial officer of SKC and CEO of ISC Company under South Korea's SK Group, asked Vinh Phuc to provide favorable conditions for ISC to expand its production capacity in the province, especially in terms of human resources, with the goal of making the ISC Vina factory a key production base for SK Group in Vietnam.

ISC Company specializes in manufacturing semiconductor test sockets and is currently investing in the ISC Vina factory project at Ba Thien 2 Industrial Park in Binh Xuyen district, Vinh Phuc. The factory spans nearly two hectares, with total registered investment capital of over $12.3 million.

The ISC Vina factory produces five main products, including plastic and synthetic rubber in primary form, metal products, electronic components, mechanical and metal processing and coating, and plastic and aluminum molds for the semiconductor industry.

The project currently employs over 900 workers, and in 2024, it is expected to generate nearly $29 million in export revenue, contributing more than $340,000 to the state budget.

Dong commended SK Group’s expansion as aligned with Vinh Phuc’s investment attraction goals.

Regarding the company’s request for assistance with human resource challenges, Dong assured that the province has plans to provide high-quality workers and social housing for employees, meeting the needs of investors.

Vinh Phuc is a manufacturing hub in northern Vietnam, together with Hanoi, Hai Phong, Hai Duong, Ha Nam, Bac Ninh, and Thai Nguyen.

Japanese keiretsu Sumitomo is keen to build its second industrial park in Vinh Phuc, a representative told local authorities in mid February.

Sumitomo-invested industrial parks in Vietnam include Thang Long in Hanoi, Thang Long II in the neighboring province of Hung Yen, and Thang Long Vinh Phuc in Vinh Phuc province,