The Covid-19 pandemic, combined with lower barriers to foreign investment, created what AEON sees as its chance to reach more Vietnamese consumers.

Retail giant AEON's MaxValu store in Vietnam.

The group plans to open 100 or so of its MaxValu supermarkets in Vietnam by 2025, up from just four in the Hanoi area now.

‘The retail group faces few large foreign-owned competitors in the capital, where wet markets would draw crowds with fresh meat, fish and produce’, Nikkei Asia commented.

Vietnam is the most important market for the retail giant’s overseas strategy, the newspaper quoted Okazaki Soichi, the executive in charge of the group's Southeast Asian business, as saying.

These vendors are now seeing shoppers stay away after a rash of Covid-19 outbreaks in big Vietnamese cities this year.

AEON will add bigger stores with 500 sq.m or more of floor space in its expansion.

In its pursuit of scale, AEON will chase Vietnamese supermarket leader Masan Group and Thailand's Central Group, which operates 230 stores.

AEON is not the only Japanese group with an eye on Southeast Asian consumers, the article continued.

Trading house Sumitomo Corp. plans to open more locations of Japanese-style supermarket chain FujiMart in Vietnam with local conglomerate BRG Group. FujiMart has three locations in Hanoi.

In addition, the operator of the Don Don Donki store chain, Pan Pacific International Holdings, aims to increase its overseas sales to 1 trillion JPY (8.72 billion USD) by the year ending June 2030, about six times last fiscal year's level.

For its part, convenience store operator FamilyMart has expanded into five Southeast Asian countries, tailoring its product lineup to local needs and tastes.

Bac Giang to receive five more lychee growing area codes for Japanese market

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Vietnam, Japan sign MoC on protecting rights of Vietnamese workers in Japan

The Vietnam Association of Manpower Supply (VAMAS) and Japan’s Association for foreign human resource development has signed a memorandum of cooperation (MoC) on improving the quality of human resources and protecting the rights of Vietnamese workers in Japan.

4 more metro trains to arrive in HCMC from Japan

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Vietnam-Japan extensive strategic partnership

Prime Minister Pham Minh Chinh paid an official visit to Japan from Nov. 22-25 at an invitation of his Japanese counterpart Kishida Fumio.

PM’s Japan visit hoped to elevate bilateral relationship

Prime Minister Pham Minh Chinh’s upcoming official visit to Japan from November 22-25 is expected to lift the Vietnam-Japan extensive strategic partnership to a new height.

Source: NDO/VNA