YANGON, Feb. 24 (Xinhua) — Aeon, Japan’s biggest supermarket chain, will branch out to Myanmar as the first major Japanese retailer in the country, sources said Monday.
The project calls for setting up a representative’s office in Yangon in March to lay the groundwork for launching a shopping mall in the country’s former capital and largest city by 2016.
The Myanmar government has revamped the nation’s foreign investment law, allowing foreign retailers to invest in large- scale retailing business.
Aeon already has retailing operations in China as well as in Malaysia and Thailand.
Last month, it opened a shopping mall in Ho Chi Minh City of Vietnam. It also plans to expand its operation in Vietnam to 20 stores by 2020.