Central Retail Vietnam increases investment in Hung Yen
Central Retail in Vietnam has received an investment registration certificate to develop a 18.2 million USD mall under its GO! brand in Vietnam’s northern province of Hung Yen.
Central Retail in Vietnam has received an investment registration certificate to develop a 18.2 million USD mall under its GO! brand in Vietnam’s northern province of Hung Yen. (Photo: congthuong.vn)
Hung Yen (VNA) – Central Ret🌠ail in Vietnam has received an investment registration certificate to develop a 18.2 million USD mall under its GO! brand in Vietnam’s northern province of Hung Yen.
At a conference to announce the provincial master planning scheme and promote investment in Hung Yen on July 7, Christian Olofsson, Property President at Central Retail Vietnam, noted the retailer has recently started the construction of its GO! mall in Hung Yen. The 1.6-hectare facility is set to open in 2025, offering over 40,000 products, including local specialties and "One Commune-One Product" (OCOP) items.
Central Retail entered Vietnam in 2012 and its retail network currently covers 42 cities and provinces across the country, with over 1 million square meters of retail space and 340 stores. Its team of 15,000 employees serves over 390,000 customers daily, he added.
The retailer sees Vietnam as a key market and plans to expand its network to 58 provinces and cities, both urban and rural, the executive added.It is committed to supporting Vietnamese farmers and local products, such as Hung Yen longan, through its extensive network across the country, Olofsson stressed.
The Ministry of Planning and Investment and Hung Yen authorities also granted investment registration certificates and in-principle approvals to 24 projects at the conference. These included 19 foreign-invested projects worth 630 million USD and five domestic ones worth 10 trillion VND (393.6 million USD).
Central Retail in Vietnam posted revenue of 400.6 million USD in the first quarter of 2024, up 4.6% year-on-year, according to the firm’s financial statement./.
The Red River Delta province of Hung Yen will continue working to improve its business climate and removing bottlenecks for enterprises in administrative procedures to push ahead the progress of projects in the second half of the year, Standing Vice Chairman of the provincial People’s Committee Nguyen Le Huy has said.
The northern province of Hung Yen continued to record relatively positive socio-economic performance during the first half of 2024, local authorities said.
Prime Minister Pham Minh Chinh attended a ceremony in Hung Yen on July 7 to announce the northern province's master plan in the 2021-2030 period with a vision to 2050 and promote investment in the locality.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
