Thai giant Central Retail eyes mall investment in Binh Thuan

Thailand's Central Retail is seeking opportunities to build malls and supermarkets in Binh Thuan province.

Nguyen Thu Hien, head of government relations, central and southern regions, of Central Retail Vietnam, said the retailer is looking for locations in Phan Thiet town, La Gi township and other localities in Binh Thuan.

"Central Group also wants to add more special products from Binh Thuan to its supply chain in Vietnam," Hien added at a meeting with provincial authorities Thursday.

In reply, Nguyen Van Phong, Vice Chairman of Binh Thuan, asked Central Retail to work directly with authorities of Phan Thiet town and La Gi township to survey locations for its projects, in line with provincial planning.

Phan Thiet is the political and economic center and La Gi is a popular tourism destination of the south-central province.

Central Retail had announced in July that it plans to invest 30 billion baht ($828 million) in Vietnam until 2026 to expand its operation. The same month, the company launched a new outlet brand, Tops Market, in Ho Chi Minh City.

Earlier this month, the giant met with authorities of Dong Thap province, an agriculture hub in the Mekong Delta, to seek locations for a local mall.

Central Retail Vietnam now operates 340 stores in 40 localities, serving more than 390,000 customers a day. The total floor area of its retail stores in Vietnam exceeds one million square meters.

Binh Thuan is calling for investment in industrial parks, renewable energy, areas of new technology and high-tech agriculture, the provincial People’s Committee told a conference last month.

Currently, the province has 31 solar and wind power plants running commercial operation with a total capacity of 1,262 megawatts, according to local authorities. Five wind power plants with a total capacity of 145.6 MW have been completed and are waiting to enter commercial operation.

Binh Thuan is home to Phan Thiet, a top tourist attraction in Vietnam. The town gained a tourism revenue of VND4,500 billion ($188.58 million) in the first six months of the year, up 17% year-on-year.