Thai retail giant to build shopping mall in Hung Yen province

By Tri Duc
Mon, March 18, 2024 | 4:37 pm GMT+7

Leading Thai retailer Central Retail will build a 15,847 square meter mall, GO! Hung Yen, in Vietnam's eponymous northern province that neighbors Hanoi.

Hung Yen authorities said they have approved a 1-to-500 detailed construction plan for the mall drafted by Viet-Nhat Real Estate JSC, a local real estate developer acquired by Central Retail in 2020.

No information was shared on the project’s estimated investment.

The plan earmarks 8,684 square meters for the mall’s main building, 3,141 square meters for trees, and 4,021 square meters for parking areas and roads.

A GO! mall in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of Central Retail.

A GO! mall in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of Central Retail.

As of end 2023, Central Retail was operating 133 stores and 39 malls in 42 of Vietnam’s 63 localities. Its net selling space in the country reached 354,913 square meters, while the net leasable space was 213,324 sqm. Notably, Central Retail’s network in Vietnam of 39 malls was higher than 33 in Thailand, its home market.

In February, Central Retail said it planned to expand operations in key markets, including Vietnam. The retail giant looked to launch three more GO! Hypermarket and nine more mini Go! outlets after both formats received positive responses over the past year, CEO Yol Phokasub said at a forum in Bangkok last month.

Phokasub said the group hoped to operate a total of 42 GO! Mall outlets in Vietnam this year in as many localities. He also noted that the group plans to introduce popular Thai fashion brands to Vietnam. For hardline products, the group will focus on improving the performance of its home appliance chain Nguyen Kim, Phokasub said.

Comments (0)
  • Read More
Revisit A1 Hill: 'Mud, Blood, Flowers'

Revisit A1 Hill: 'Mud, Blood, Flowers'

As the nation approaches the 70th anniversary of the Dien Bien Phu Victory, all eyes are turning towards the westernmost part of the Fatherland – Dien Bien, with profound gratitude.

Travel - Sun, April 28, 2024 | 12:04 am GMT+7

Vietnamese dong to slide further 1% by year-end: Bank of America

Vietnamese dong to slide further 1% by year-end: Bank of America

The Vietnamese dong, the local currency, is projected to weaken by an additional 1% by the year-end after sliding sharply against the U.S. dollar since the start of this year, according to Bank of America.

Banking - Sat, April 27, 2024 | 10:39 pm GMT+7

Industrial park developer Idico targets 22% profit hike, 40% cash dividend

Industrial park developer Idico targets 22% profit hike, 40% cash dividend

Leading industrial park developer Idico Corporation has targeted revenues and pre-tax profit of VND8.46 trillion ($334 million) and VND2.5 trillion ($98.7 million) this year, up 13% and 22% year-on-year, respectively.

Companies - Sat, April 27, 2024 | 9:23 pm GMT+7

Indonesia’s coffee exports surpass imports

Indonesia’s coffee exports surpass imports

Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) reported.

Southeast Asia - Sat, April 27, 2024 | 8:53 pm GMT+7

Thai central bank intervenes to stabilise currency

Thai central bank intervenes to stabilise currency

The Bank of Thailand (BoT) said it has intervened in currency markets at times to ease any excessive moves in the THB, adding that the current policy rate is robust and conducive to economic recovery, reported the Bangkok Post.

Southeast Asia - Sat, April 27, 2024 | 8:52 pm GMT+7

Indonesia's first thermal power plant stops operating

Indonesia's first thermal power plant stops operating

Indonesia's Ministry of Maritime Affairs and Fisheries (MMAF) has held a press conference to inform about the country’s progress in the early decommissioning of the Cirebon-1 thermal power plant.

Southeast Asia - Sat, April 27, 2024 | 8:49 pm GMT+7

'Tunnel king' Deo Ca plans to invest over $3.7 bln in building roads

'Tunnel king' Deo Ca plans to invest over $3.7 bln in building roads

“Tunnel king” Deo Ca Group plans to build about 400 km of highways and ring roads with a total investment of more than VND94,000 billion ($3.7 billion) by 2030.

Companies - Sat, April 27, 2024 | 5:17 pm GMT+7

Real estate major DIC plans high-end medical centers for Vietnam expats

Real estate major DIC plans high-end medical centers for Vietnam expats

Real estate major DIC Corp has plans to build facilities offering advanced medical care for long-term expat residents in the central province of Thanh Hoa and the southern province of Ba Ria-Vung Tau.

Companies - Sat, April 27, 2024 | 4:40 pm GMT+7

Vietnam-based Boviet Solar to invest $294 mln in photovoltaics plant in US

Vietnam-based Boviet Solar to invest $294 mln in photovoltaics plant in US

Vietnam-based Boviet Solar Technology Co. Ltd. (Boviet Solar) will invest $294 million in a photovoltaics (PV) factory in Pitt County, North Carolina, the United States.

Energy - Sat, April 27, 2024 | 12:28 pm GMT+7

Central Vietnam islands host visitors with summer events

Central Vietnam islands host visitors with summer events

A series of summer vacation events are scheduled on the island district of Ly Son, 30 km off the coast of the central province of Quang Ngai, offering different options for sea and island summer trips for families and friends.

Travel - Sat, April 27, 2024 | 12:07 pm GMT+7

FPT Retail turns profitable after four consecutive quarterly losses

FPT Retail turns profitable after four consecutive quarterly losses

FPT Digital Retail JSC, known as FPT Retail, posted VND39 billion ($1.54 million) in consolidated net profit in the first quarter of 2024, marking a return to profitability after four consecutive quarters of losses.

Companies - Sat, April 27, 2024 | 10:20 am GMT+7

Agriculture major PAN Group to pay 5% cash dividend

Agriculture major PAN Group to pay 5% cash dividend

Leaders of PAN Group JSC, listed on the HCMC Stock Exchange (HoSE) as PAN, proposed paying a cash dividend of 5% this year and beyond at the company's AGM on Friday.

Companies - Sat, April 27, 2024 | 9:53 am GMT+7

Japan’s Sojitz invests in Vietnam cashless payment firm Finviet

Japan’s Sojitz invests in Vietnam cashless payment firm Finviet

Japanese conglomerate Sojitz Corporation has invested an undisclosed amount in Finviet Technology Corporation, a software as a service (SaaS) company in Vietnam that provides cashless payment smartphone apps and an online ordering platform for small retail stores.

Companies - Sat, April 27, 2024 | 9:36 am GMT+7

Real estate businesses’ cash flow worst in five years: expert

Real estate businesses’ cash flow worst in five years: expert

Real estate developers are experiencing their worst cash flow in five years as the property market is facing several economic hurdles, said Dinh The Hien, head of the Institute of Information and Business Research.

Real Estate - Sat, April 27, 2024 | 7:46 am GMT+7

Former Binh Thuan province chairman detained for state asset management violations

Former Binh Thuan province chairman detained for state asset management violations

The Ministry of Public Security's investigative agency has launched legal proceedings against and arrested Le Tien Phuong, former chairman of Binh Thuan province for the 2011-2016 term.

Politics - Fri, April 26, 2024 | 9:41 pm GMT+7

Vietnam central bank to keep interest rate steady: deputy governor

Vietnam central bank to keep interest rate steady: deputy governor

The State Bank of Vietnam (SBV), the country’s central bank, will continue to keep policy interest rates unchanged at present and in the coming time, affirmed its deputy governor Dao Minh Tu.

Banking - Fri, April 26, 2024 | 9:11 pm GMT+7