The Japan Bank for International Cooperation and Mizuho Bank have agreed to provide loans of US$24 million and $17 million to retailer AEON Vietnam to fund its southern expansion.
The funding will help the Japanese retail giant open a store in each of Binh Duong and Long An provinces, according to a statement from the Japan Bank for International Cooperation on Tuesday.
It now has six major shopping centers in the country and plans to expand to 30 by 2030 as part of its strategy to prioritize Vietnam over all other markets.
Yoshida Akio, representative executive director of the company, told Prime Minister Pham Minh Chinh in May that Vietnam, where it has invested over $1.18 billion so far, was its biggest investment destination globally.
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