Vietnam Aeon's second most important market: exec

Vietnam is retail giant Aeon's second most important market, after Japan, says Kazaoka Takao, chief merchandising officer at Aeon Vietnam.

Takao made the statement at the opening ceremony of "Vietnam product introduction week at Aeon" on Thursday in the Aeon Tan Phu, Tan Phu district, Ho Chi Minh City.

He noted that Vietnam is a large market, with a population of 100 million and an economic growth rate higher than many other Asian countries, including Japan.

Aeon has been constantly promoting Vietnamese products, not only to the Japanese market but also to international markets in recent years. This event is an example, Takao added. Aeon also has a week of exhibitions of Vietnamese business products at Aeon in Japan.

Ogawa Eri, economic consul Japan in HCMC, said that since the "Vietnam product introduction week at Aeon" was first held in 2017, the program has become an annual trade promotion activity of HCMC and other southern provinces with Japan.

She added that over the past 10 years, through the distribution of a variety of Japanese products and foods, Aeon has contributed to making Japan closer to many people across the provinces of Vietnam.

Eri noted she hopes in the near future, supermarkets and stores in and outside the country will have more high-quality products from both countries and consumers will have more choices.

Tran Phu Lu, director of the Investment and Trade Promotion Center of HCMC (ITPC), said that out of 215 applications, the organizing committee selected 34 businesses that met Aeon Vietnam's criteria, focusing on "safety, new products, and regional characteristics-tradition".

These 34 businesses are in the following fields: packaged and processed foods such as tea, coffee, spices, confectionery, and dried agricultural products; products beneficial to health; agricultural products: rice, vegetables, tubers, fruits; and organic products.

These products not only meet modern consumer needs but also clearly reflect the cultural characteristics and traditional values of Vietnam, meeting the healthy living trend of customers after the pandemic.

For many years, Japan has been one of Vietnam's leading trade partners. Bilateral trade turnover in 2024 is estimated to reach nearly $45 billion, of which Vietnam's export to Japan is $23.3 billion and import $21.6 billion.

In its March-August 2024 (first half of fiscal year 2024) review, Aeon said it made an operating income of JPY2,414 million ($16.2 million) in Vietnam, up 21.2% year-on-year, on operating revenues of JPY8,192 million ($54.9 million), up 14.5%.