Japanese retailer licensed to enter local market

ME - HCM City retailers will soon have a new competitor as Japan’s top retailer Aeon Corporation has been licensed to enter the Vietnamese market.

A source from the HCMC Department of Planning and Investment on Tuesday said the city’s government has officially granted an investment certificate for the Japan-based Aeon Co. to establish Aeon Vietnam Co. Ltd. in HCMC.

The retailer, with over 180 member companies, will invest US$100 million in a commercial center named Aeon Shopping Center-Tan Phu Celadon in HCMC’s Tan Phu District to serve its business in the distribution field.

The center belongs to Celadon City Project developed by a joint venture between Sai Gon Thuong Tin Real Estate Co. (Sacomreal) and Gamuda Land from Malaysia. The project, covering 82.5 hectares, is an urban complex of apartments, schools, commercial centers, parks and sport and entertainment sections.

Local retailers should highly appreciate their new competitor because of its experience and financial capability.

Aeon Shopping Center is the first project to be developed by Aeon in Vietnam. Its investment certificate stated Aeon will invest in a chain of commercial centers including supermarkets, shopping centers, department stores, specialized stores and retail stores of its own brand.

In these commercial centers, Aeon will invest and operate areas for dining, children’s entertainment, billiards, bowling, games and gymnasiums.

According to Japanese newspapers, Aeon Co. Ltd retail group’s Jusco supermarket chain plans to enter the Vietnamese market by 2013. The retailer is currently operating in Malaysia.

Aeon has cooperated with HCMC-based universities to train and recruit workers.

At present, Japan’s investment in the distribution field in Vietnam is in convenience stores of Ministop, Family Mart and Daiso.