Aeon Vietnam under Japanese retailer Aeon signed a memorandum of understanding on Friday with Hai Duong province People’s Committee to build a mall in the northern province.
The mall will be located in the southern urban area of Hai Duong town near Vo Nguyen Giap boulevard.
Tran Duc Thang, chief of Hai Duong's Party Committee, said Hai Duong, also an agricultural hub, can supply the retailer various farm produce.
Aeon currently has six malls in Vietnam, including two in Hanoi, two in Ho Chi Minh City, one in the southern province of Binh Duong, and one in the northern city of Hai Phong.
The retailer is scheduled to commence construction on Aeon Mall Hue in Hue town, central Vietnam, with an investment of VND3,916 billion ($157.5 million), in December this year. The giant also plans to build its second mall in Hai Phong.
Another heavyweight retailer, Thailand’s Central Retail, plans to build a VND432 billion ($17.42 million) commercial center in the Mekong Delta province of Bac Lieu. The center is set to open in December 2023.
Central Retail representatives recently made visits to the central provinces of Binh Thuan, Nghe An and Quang Binh, and the Mekong Delta province of Dong Thap to deliver investment proposals.
In July, the Thai giant announced its plan to pump 30 billion baht ($828 million) into Vietnam from now until 2026 to expand its presence in the country.
Hai Duong, a manufacturing hub in northern Vietnam, is 55 kilometers from the Cat Bi airport and 48 kilometers from the Hai Phong seaport, both in Hai Phong city.