Vietnam’s retail market is growing at an annual rate of 10.9% in the 2013 – 2018 period, while most leading names in the market come from South Korea and Japan, ranging from convenience stores, department stores to e-commerce.

Aeon sees huge potential in Vietnam and expects to expand investment in the country, said the CEO of Aeon Vietnam and Southeast Asia.

Aeon targets to add Vietnamese goods and products worth US$500 million into its global distribution network in 2020, and around US$1 billion by 2025.

The country’s retail network could be modernized thanks to European investment, technologies and high standard governance.

FDI to Hanoi continues to rise while global investment activities shrink due to the growing impacts of the Covid-19 pandemic.