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Japanese firms invest in retail

by PV29 April 2017 Last updated at 18:00 PM

photo: VOV
photo: VOV

VTV.vn - Vietnam is among the strategic investment destinations for many Japanese enterprises according to the Japan External Trade Organisation.

Japanese firms are increasingly moving into retail, through Aeon and Takashimaya. Aeon now own four shopping centres in Vietnam  and is planning to build a third in Ha Dong, Hanoi.

“We'll open more shopping centres in Vietnam. According to our calculations, we can open a shopping centre for every million people. Therefore, in Hanoi and HCM City alone we can open 10 in each. We're looking forward to this expansion”, said Yukio Konishi, Director General of Aeon Mall Vietnam.

Japanese convenience stores such as Family Mart and Minishop have entered Vietnam. According to business media Nikkei, global convenience store giant 7-Eleven will open its first store in Vietnam.

According to the Ministry of Planning and Investment, there are 560 new Japanese investments, with hotel and food services doubling.

However, investment projects in manufacturing fell, from 30 to 20% of the total newly registered projects. According to experts, a slowdown in Japan in recent years has seen large businesses become more careful about their investments.  Vietnam wants to improve its facilities and labour force in order to attract more investment.

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