Can Tho Chairman Places High Hopes on AeonMall Corporation's $250 Million Project

DNHN - Positive effects result from AeonMall Corporation's investment in Can Tho City, which advances the socio-economic advancement of both the city and the Mekong Delta area.

Prime Minister Pham Minh Chinh attended the signing of thirty cooperation agreements and documents between Vietnamese and Japanese ministries, agencies, and businesses on December 16 during the Vietnam-Japan Economic Forum in Tokyo. Notably, the People's Committee of Can Tho City and AeonMall Vietnam Co., Ltd., along with associates, exchanged a cooperation agreement to investigate the possibility of investing up to $250 million in AeonMall Can Tho.

The importance of the partnership between AeonMall and Can Tho City was highlighted by the Chairman of the Can Tho City People's Committee Tran Viet Truong during a phone conversation with a reporter from the Dau Tu (Investment) e-newspaper from Tokyo, Japan. Can Tho City, home to around 1.3 million people, is situated in the centre of the Mekong Delta, which is home to about 18 million people. Because of this, it presents a dynamic and promising market for foreign investors and multinational trade companies.

"AeonMall Corporation's decision to invest in Can Tho City brings positive impacts by creating jobs, attracting investment, developing trade, services, and tourism, contributing to the socio-economic development of the city and the Mekong Delta," stated the Chairman of the Can Tho City People's Committee. AeonMall will enhance the standard of living and satisfy the growing needs of the people of Can Tho City and the Mekong Delta by offering a contemporary, practical shopping, entertainment, and recreational area. The investment made by AeonMall in Can Tho City also helps to improve Can Tho's standing on the Asia-Pacific economic map."

There are 83 foreign direct investment (FDI) projects in Can Tho City at the moment, totalling more than $2,269 million in registered investment capital. Japan ranks top out of 22 nations and territories in terms of foreign direct investment capital in Can Tho City, with eight projects with a total registered investment capital of about $1.35 billion.

In terms of trade interaction, in 2022, Can Tho's products exports to Japan amounted to $207.18 million, while imports totalled $26.48 million.

Over $134 million worth of commodities were exported from Can Tho to Japan in the first nine months of this year alone, while almost $19 million worth were imported. Seafood, clothing, processed and agricultural goods, steel and steel products, chemicals, pharmaceuticals, feathers, and steel are among the top export goods. Fabrics, machinery, equipment, and medicinal materials are the primary imports.

Japanese partners have made significant investments in the building of numerous significant projects in recent years, fostering the socio-economic growth of Can Tho City and the provinces along the Mekong Delta. Notable projects include the Can Tho Bridge, which was finished in 2010, as well as two others that were just finished with loans from the Japanese ODA: the Research Laboratory Complex and the High-Tech Building, which are a part of the Infrastructure Development Component of the Can Tho University Upgrading Project.

Furthermore, non-governmental aid initiatives pertaining to the environment, healthcare, culture, education and training, and investment in rural traffic bridges have been completed and are currently being implemented in Can Tho by the Japanese government.

Additionally, cooperation agreements in several areas have been reached by Can Tho City and Japanese locations (Hyogo Prefecture, Okayama City, and Nasushiobara City in Tochigi Prefecture).

About the direction of investment cooperation with Japanese partners in the future, Mr Tran Viet Truong stated that the city invites Japanese partners to invest in the areas of supporting industries, processing technology, manufacturing, high technology, smart technology, logistics, and industrial park infrastructure because of the mutually beneficial relationship built over time and their respective strengths.

This includes investing in the Class II Logistics Centre project in the Mekong Delta economic sub-region of Can Tho City; investing in the Vietnam - Japan Friendship Industrial Park in Hung Phu 1 Industrial Park and Vinh Thanh Industrial Park (Phase 1); researching investment in agricultural product production, processing, and export service projects at the Mekong Delta Agricultural Product Linkage, Production, Processing, and Consumption Centre in Can Tho following the Prime Minister's approval of the Project Proposal for the establishment of the Linkage Centre.

"Japan is always viewed by Can Tho City as a strategic investor, a dependable, and important partner to enhance all-encompassing cooperation. The city pledges to constantly assist and support AeonMall and Japanese investors during the project's development and operation, as well as while researching the investment climate and gaining access to investment procedures. As the hub of the Mekong Delta, Can Tho City will get impetus from the development of investors to expand and flourish, according to the Chairman of the Can Tho City People's Committee.

Truc Giang