Tomorrow (Nov. 21), Lotte Group – one of Korea’s leading retail units will inaugurate Lotte Mart at The Seasons urban area in Lai Thieu ward, Thuan An town. This is the 5th trade center of Lotte Group in Vietnam with the land area of 21,300sqm and the total commercial area of about 30,000sqm.
With the total investment capital of nearly US$30mil, Lotte Mart Binh Duong will be a multi-functional trade center with high-grade services of international cinema, entertainment area, bowling, shopping mall, supermarket, gastronomy and many more in a bid to serve for local residents’ demand on shopping and entertainment.
Meanwhile, Aeon Group from Japan will in the 4th quarter of 2014 inaugurate Aeon trade center next to Vietnam-Singapore Industrial Park 1 in Thuan An town. According to investment certificate granted in early 2013, Aeon trade center with the total capital of US$95mil will be located on the land area of more than 6ha and construction area of 75,000sqm, 45,000sqm of which is for business. Once put into operation, Aeon trade center will place stable jobs for more than 1,500 laborers.
Possibly speaking, Binh Duong retail market has been highly appreciated by foreign retail groups and an ideal destination for investing in supermarkets and trade centers. Notably, since Jan. 1, 2009, foreign investment capital poured into the local retail field has become lively. Specifically, prior to Lotte and Aeon groups, Metro Cash & Carry Group opened Metro Binh Duong in Nov. 2010, followed by Big C at Thu Dau Mot city and Di An town. At present, many other investors from France, Singapore and so on have learnt about retail market in Binh Duong.
Potentials for development
Aside from foreign investors, local investors such as Co.opmart, Vinatex, Citimart and so on have joined in the local retail market. Participation of local and foreign investors in supermarket and trade center field has changed image of local urban area. For instance, after 2 years of operation, Becamex Department Store invested by Becamex IDC has upheld its efficiency, bringing a new choice for customers.
With more than 1.7 million people and over 17,000 local and foreign businesses and retail and service value of nearly VND90tril per year are crucial and attractive factors for investors. Furthermore, Binh Duong is the hub of the Southern key economic area and is located on artery. These are elements explaining why system of supermarket and trade center in Binh Duong develops rapidly in a short time.
In addition, under customers’ viewpoint, local and foreign businesses’ participation in supermarket and trade center field has created a healthy competition and brought many interests for customers.
Reported by V.Giang – Translated by A.C
