Aeon Vietnam to expand South
Aeon Vietnam received a USD41 million loan from the Japan Bank for International Cooperation (JBIC) and Mizuho Bank to expand its presence in Southern Vietnam. Mizuho Bank will grant the Vietnamese company USD5 million in addition to the USD36 million loan from JBIC. The government-backed bank JBIC said the loan would provide the necessary funds for Aeon Vietnam to open two new general merchandise stores in Binh Duong and Long An Province. The move is part of the store’s four-year overseas expansion plan, which will focus mainly on Asia, with Vietnam as the group’s top priority market. Earlier this year, the Japanese conglomerate announced its expansion in Vietnam, where it plans to open 20 shopping centers. The country accounts for the highest investment outside Japan, receiving more than USD1.18 billion as of May.