Japan’s No. 2 retailer to build Vietnam’s largest supermarket

AEON, Japan’s second biggest retailer, plans to develop Vietnam’s largest supermarket.

AEON Chief Executive Officer Nagahashi Oyama spoke about the plans during a meeting with the deputy chairman of Ho Chi Minh City People’s Committee in the southern hub Wednesday.

Oyama said he was in the city seeking information about the city’s retail market plans. He said AEON planned to develop a US$50 million trade, service and entertainment complex on 10 hectares in District 2. The center will include the country’s largest supermarket.

Vietnam fully opened its market to international retailers in early 2009, said Deputy Chairman Nguyen Trung Tin, who added that the city would help the Japanese retailer implement projects.

The city is already home to international retailers like Metro Cash & Carry from Germany, Big C from France, Malaysia’s Parkson and Lotte from South Korea.

AEON posted a year-on-year 62 percent fall in operating profits in the first quarter ended in May. The retailer is a majority owner of US women's apparel retailer Talbots Inc.

 Minh Quang

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