The attractiveness of the retail market in Nghe An

Following the presence of Central Retail Thailand with GO! Vinh, and Lotte Mart of South Korea, now Aeon Mall of Japan is promoting investment in Nghe An, showing that the province's retail market is creating great appeal.

Chairman of the Provincial People's Committee Vo Trong Hai welcomes leaders of Aeon Mall Vietnam Co., Ltd. and its partners to the working meeting. Photo: Thanh Duy

In the modern retail industry, international "eagles" are known for their cautious approach. Before entering a new market, they typically spend years measuring population spending, urbanization rates, transportation connectivity, income growth, and consumer sentiment.

Therefore, the influx of many foreign corporations into Nghe An is like a series of large ships simultaneously choosing to anchor in a region they believe will continue to expand its growth potential for many years to come.

The statement by Mr. Nojima Masaaki, Director of Development and Construction at Aeon Mall Vietnam, partly reflects this perspective. After several surveys in Nghe An, the representative of the Japanese retail group expressed surprise at the rapid development of urban infrastructure, traffic density, and consumer vitality in the central wards of Vinh city.

For international retailers, traffic volume is sometimes just as important as a statistical report. More people often mean a more active economy . Parking lots filling up on weekends or the long hours of streetlights are always easy-to-understand signals for investors.

Mr. Nojima Masaaki stated that he had returned to Nghe An several times in just the first few months of 2026. This is often a signal that the market has moved beyond the "observation" phase and is beginning to seriously consider the possibility of a long-term presence.

Looking at the scale of retail in Nghe An, it's easy to understand why this appeal is becoming increasingly evident. In 2015, total retail sales of goods reached approximately 40,180 billion VND, equivalent to about 1.8 billion USD at the current exchange rate.

By 2025, the market size is projected to increase to VND 135,430 billion, equivalent to approximately USD 5.3 billion, more than tripling in just one decade.

In the first four months of 2026 alone, retail sales of goods are estimated to reach VND 47,363 billion, nearly USD 1.9 billion, an increase of over 12% compared to the same period.

Retail market growth rate in Nghe An province from 2015 to 2025. Source: Nghe An Statistics. Graphics: Thanh Duy

The statistics reflect a clearer improvement in people's incomes, a faster rate of urbanization, and a growing middle class.

A family's shopping basket today is vastly different from what it was 10 years ago. Besides food and essentials, there are expenses for movie theaters, smart home appliances, cosmetics, fashion , and health and beauty care...

The presence of foreign retailers typically creates three layers of impact on the local economy. The first is the potential to stimulate consumption.

A modern shopping mall operates as a “spending ecosystem.” People stop by to buy food, then stay for coffee, watch movies, buy clothes, or let their children play.

As a result, cash flow is retained longer within the local economy, circulates faster, and spreads more widely to various service sectors.

The next impact lies in raising the standards of local goods, especially OCOP products and specialties of Nghe An. When international retail chains are present, they bring with them very strict standards regarding logistics, product inspection, and brand management. This pressure forces businesses and craft villages to change their production mindset.

Aeon has implemented numerous programs to bring Vietnamese goods into its retail system in Japan. Central Retail has also significantly expanded its domestic supply chain in recent years. This opens up the possibility for Nghe An products to go further beyond the local market if they meet quality and management requirements.

From a macroeconomic perspective, modern retail will contribute to achieving double-digit economic growth. Nghe An is also moving within the general growth trajectory of the Vietnamese economy, driven by three main drivers: investment, exports, and consumption – the "three-horse chariot" that currently guides the economy.

A shopping mall on Quang Trung Street, Thanh Vinh Ward. Photo: VP

From a consumer perspective, the province possesses many favorable conditions for the formation of a large-scale consumer market with a large population, abundant young workforce, high remittances, rapid urbanization, and steadily improving incomes.

The interest from leading Asian retail corporations is opening up a great opportunity for Nghe An. If this opportunity is well-captured, consumer spending will become a crucial driver of growth, and Nghe An's products will have the chance to enter large supermarkets and potentially go further in domestic and international distribution chains.

Source: https://baonghean.vn/suc-hut-thi-truong-ban-le-nghe-an-10338936.html