Japanese retailers have been increasing their business in Vietnam

japan-shopsAs municipalities remove social distance regulations and speed immunization against Covid, Japanese shops have been increasing their business in Vietnam. Uniqlo, a Japanese casual clothing manufacturer and retailer, has launched its eleventh shop in Vietnam. It opened an internet store in the nation in early November. ReFa, a beauty company, will launch three locations by the end of this year, with plans to expand by the middle of 2022.

Aeon, a retail conglomerate, intends to treble the number of shopping malls in the country in the near future. It also intends to offer shares on the Vietnamese stock exchange and make it easier for Vietnamese seafood, clothing, and other items to be exported to Japan. Japanese companies are increasing their investment in Vietnam’s textile and apparel industry. Matsuoka, a Japanese firm, manufactures casual clothing in Vietnam for sale to Japan and China. In October 2021, overall goods retail sales and service revenues in Vietnam increased by 18.5% over the previous month. When immunization is increased, more economic activity restart, and several festivals take place, the retail sector is likely to develop late this year. Profits in the industry are predicted to rise by more than 20% this year.