Vietnam continues to rank among the most important growth markets for international retailers, as leading regional groups accelerate expansion plans to capture rising consumer demand.
Central Retail's Mini Go! supermarket in Tay Ninh Province (Photo: Central Retail).
According to its latest half-year financial report, Thailand's Central Retail generated more than THB 24 billion (USD 744 million) in revenue from its Vietnamese operations during the first six months of 2026, down around 2 per cent from a year earlier.
Vietnam accounted for approximately 20 per cent of the group's total revenue and remained its second-largest market after Thailand.
Food retail continued to dominate Central Retail's business in Vietnam, contributing THB 20.6 billion (USD 639 million), or around 86 per cent of total revenue. By contrast, revenue from electronics fell nearly 35 per cent to THB 1.7 billion (USD 53 million), largely due to the group's divestment from electronics chain Nguyen Kim.
Central Retail entered Vietnam in 2012 and now operates around 330 stores and shopping centres across 26 provinces and cities.
As of the end of June, the group's assets in Vietnam were valued at approximately THB 30.8 billion (USD 955 million). Between 2026 and 2028, Central Retail plans to open an additional 10 to 12 GO! shopping centres and supermarkets nationwide.
After more than a decade in the country, Vietnam has also emerged as one of the most important markets for Japanese retail giant Aeon.
Speaking at a press conference on September 10, Aeon Vietnam chief executive Tezuka Daisuke said the company had invested around USD 1.5 billion in Vietnam to date.
The group's revenue in Vietnam has increased more than 2.5 times compared with pre-pandemic levels, reflecting strong growth in consumer spending and modern retail formats.
As of the end of August, Aeon operated nine large-scale shopping centres, 16 general merchandise stores and supermarkets, and 182 convenience stores across the country.
Under its medium-term business plan for 2026-2030, the company has identified Vietnam as its key growth market and intends to continue expanding aggressively.
Aeon aims to triple its revenue in Vietnam by 2030 and allocate around 60 per cent of its total ASEAN investment budget to the country.
Tezuka said modern retail currently accounts for less than 20 per cent of Vietnam's retail market, highlighting substantial room for future growth.
The company has identified Hanoi and Ho Chi Minh City as its two primary strategic markets and plans to further strengthen its presence in both metropolitan areas.
During the final quarter of this year, Aeon will open three major shopping centres in Haiphong, Thanh Hoa Province and Quang Ninh Province.
Among them is Aeon Hai Duong, located in Thach Khoi Ward, Haiphong, which is scheduled to open in early October. The project carries an investment of nearly VND 1.2 trillion (USD 46 million) and covers an area of 3.5 hectares.
The expansion plans underline growing confidence among international retailers in Vietnam's long-term consumer market, which continues to benefit from rising incomes, rapid urbanisation and a growing middle class.
