What: Vietnam is the new land of opportunities for South East Asian retailers.

Why it is important: India and Vietnam might be the new hot markets to watch, all the more that they are already both quite advanced technologically speaking, and for that reason, might be reach in lessons for overseas retailers.

Thailand's Central Retail Corporation will invest $1.45 billion to double the number of its stores in Vietnam over the next five years, taking its total to over 600 in 57 cities and provinces.

CEO Yol Phokasub says the country has "immense potential for continued economic growth" (with an expected GDP growth of 6.7% in 2023 and 7.2% in 2024), and Central Retail Vietnam will invest 6 billion baht ($174 million) this year alone. The company will also renovate 10-12 Nguyen Kim electronics supermarkets and open 3-5 new supermarkets and Go! Hypermarkets.

The move comes as Japan's Aeon plans to operate 100 Vietnamese supermarkets by 2025 and South Korean retail giant Lotte also seeks to expand its footprint in the country now that it is gradually exiting China.

Central Thailand to invest $1.45b in Vietnam