AEON to invest in VN’s financial sector

February 26, 2019 - 07:00

AEON considers Việt Nam a key investment destination in the region, with the group planning to pour some US$5 billion into shopping malls nationwide, raising the total to 30 malls and creating jobs for 50,000 local labourers.

The AEON MALL Bình Tân in HCM City.- Photo aeonmall-vietnam.com

Viet Nam News

HÀ NỘI — AEON Financial Service (AFS) Co Ltd, the owner of Japan’s AEON retail chain, wants to expand its financial services in Việt Nam through merger and acquisitions, said AFS Chairman Masaki Suzuki.

In a meeting with Deputy Prime Minister Vương Đình Huệ in Hà Nội yesterday, the AFS leader pledged long-term investment in Việt Nam to contribute to the country’s consumer finance market.

He said AEON considers Việt Nam a key investment destination in the region, with the group planning to pour some US$5 billion into shopping malls nationwide, raising the total to 30 malls and creating jobs for 50,000 local labourers.

The host, for his part, applauded the firm’s plan to expand investment in Việt Nam, saying that besides bolstering exports, the Vietnamese Government is also interested in developing the domestic retail market.

The total retail sales of goods and services in Việt Nam in 2018 rose 12 per cent year-on-year, he said, adding that the AEON shopping mall model has been widely accepted by Vietnamese consumers thanks to its integration of business activities and other services.

He also lauded AEON for bringing Vietnamese products to its shelves and shipping local goods to AEON chains worldwide.

Huệ voiced his support for AEON’s plans to expand investment in the financial sector, helping to improve the capacity and business efficiency of both AEON itself and payment methods in Việt Nam. — VNS

Tags Vietnam Vietnam News news AEON Financial Service AFS AEON retail chain

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

Cement, clinker demand to edge up this year

Demand for cement and clinker is expected to increase marginally to 98-99 million tonnes, according to the Ministry of Construction.

Economy

VN-Cambodia trade has great potential: MoIT boss

On the occasion of the visit of General Secretary, President Nguyễn Phú Trọng to Cambodia from February 25 to 26, Deputy Minister of Industry and Trade Đỗ Thắng Hải talk with the Vietnam News Agency about economic and trade development co-operation between the two countries.

Economy

VN shows great potential for processed vegetable, fruit exports

More Vietnamese businesses should be shifting to processing and exporting vegetables and fruits,which has high demand worldwide, Võ Mai, deputy chairwoman of the Việt Nam Gardening Association, has said.

Economy

HCMC to host investment conference

The HCM City People’s Committee has announced plans to hold an investment promotion conference in March.

Economy

VN-Index climbs, nearing 1,000 points

Vietnamese shares advanced on Monday with positive investor confidence in global market moves, but strong selling pressure could be a challenge in the coming days.

Economy

Brand ownership recognition for local herb

The National Office of Intellectual Property of Việt Nam last week recognised the brand ownership for a species of chives grown in Bình Hải Commune in the central province of Quảng Ngãi’s Bình Sơn District.

Economy

Small businesses reap rewards from Trump-Kim summit

Businesses in Hà Nội are cashing in on the mania surrounding the upcoming summit between US President Donald Trump and leader of the Democratic People’s Republic of Korea Kim Jong-un.

Economy

Credit limit to double for the poor

The Government will double the credit limit for poor people seeking loans without collateral, as part of efforts to reduce poverty and prevent loan sharks.

Economy

Hyundai asked to increase localisation rate to 40 per cent

Deputy Prime Minister Trịnh Đình Dũng has asked South Korean carmaker Hyundai Motor Company to promote technology transfer to its local partners in Việt Nam and increase its localisation rate to a minimum of 40 per cent.