Japanese retail giant Aeon to branch out to Myanmar

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.

Source: English.news.cn

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