AEON to invest billions of USD in Vietnam’s retail market

The AEON Financial Service (AFS) Co. Ltd., the owner of Japan's AEON retail chain, wants to expand its financial services in Vietnam through merge and acquisition activities, said AFS Chairman Masaki Suzuki.

In a meeting with Deputy Prime Minister Vuong Dinh Hue in Hanoi on Monday, the AFS leader pledged long-term investment in Vietnam to contribute to the local consumer finance market. He said that AEON considers Vietnam a key investment destination in ASEAN and is planning to pour some 5 billion USD into shopping malls around the country, raising the total to 30 malls and creating jobs for 50,000 locals.

Mr. Hue said that besides bolstering exports, the Vietnamese Government also focuses on developing the domestic retail market. He lauded AEON for bringing Vietnamese products to its shelves and shipping local goods to AEON chains worldwide. Mr. Hue voiced his support for AEON's plans to expand investment in Vietnam's financial sector in line with market regulations, helping to improve the capacity and business efficiency of AEON itself and payment methods in Vietnam.

Source: VOV5