AEON to develop $280 million shopping mall in Hanoi

AEON Co., Ltd. plans to develop another shopping mall in Hanoi with the total investment capital of $280 million, increasing the total number of its malls in Hanoi to three.

On June 20, Prime Minister Nguyen Xuan Phuc had a meeting with Yasutsugu Iwamura, general director of AEON MALL Vietnam. The prime minister lauded AEON Vietnam’s effort to increase the export of Vietnamese goods to Japan and encouraged the group to continue expanding its operations in Vietnam as well as increase exports.

Yasutsugu Iwamura reported its plans to develop a shopping mall in the south of Hanoi and expected to receive support from the government and relevant authorities.

At present, AEON MALL Vietnam is operating four shopping malls in Vietnam and two other ones are under construction. Along with expanding the operations in Vietnam, the group is also increasing connections with local suppliers and manufacturers to export their products to Japan.

Most recently, AEON Co., Ltd., AEON Vietnam Co., Ltd., and AEON TOPVALU Vietnam Co., Ltd. organised the annual AEON supplier conference for the first time with the aim of promoting the export of Vietnamese goods to Japan, drawing the attendance of representatives of authorities from Vietnam and Japan, and 142 valued domestic and foreign suppliers.

The AEON Supplier Conference is an opportunity to deepen bonds with the company's suppliers by connecting and supporting them to generate innovative business ideas and enhance high-quality products to meet the increasing demand of domestic consumers and export to overseas markets.

AEON has been making efforts to contribute to local industries, thus exports from Vietnam to AEON's worldwide network increased in the 2018 fiscal year with the total export turnover of $240 million. The figure is expected to reach $500 million in the 2020 fiscal year and $1 billion in the 2025 fiscal year.

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