Thailand’s Central Retail plans to build a VND432 billion ($17.42 million) commercial center in the Mekong Delta province of Bac Lieu.
The 25,000-square-meter center, per Go! format, will include a supermarket, cinemas, restaurants, entertainment facilities, among others.
Set to open in December 2023, the center is expected to employ hundreds of locals, increase sales of local farm produce and boost socioeconomic growth.
Bac Lieu authorities granted the investment certificate for the center at an investment promotion conference held Monday.
It also granted investment certificates to seven other investors for 13 projects worth VND16,700 billion ($673.4 million).
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.
At the conference attended by more than 500 businesses and potential investors, Bac Lieu called for investments of VND182,000 billion ($7.34 billion) in 10 major projects.
The Mekong Delta province, which borders the East Sea (South China Sea), has identified aquaculture, particularly shrimp farming and high-tech agriculture, as key economic sectors, Bac Lieu Chairman Pham Van Thieu said at the conference.
So far, the province has attracted 167 domestic investment projects with a total registered capital of VND53,000 billion ($2.14 billion) and 17 foreign direct investment projects worth $4.5 billion.