Vingroup plans major mall expansion to tap retail growth

Hanoi

VIETNAMESE conglomerate Vingroup expects to launch about 24 shopping centres across the country this year, a leap from the six it has now and its biggest bet so far on the growing spending power of middle-class consumers.

The company told Reuters via email that its subsidiary Vincom Retail plans to expand into 19 provinces and cities, covering roughly a third of the country, from three cities now.