Central Group to Invest $3 Billion in Vietnam to Drive Growth

Thailand’s Central Group plans to invest about US$3 billion in Vietnam over the next 10 to 15 years as it expands its retail, property and hospitality businesses in one of its key overseas markets.

The investment programme includes an additional US$1.5 billion in new funding, which would bring Central Group’s total investment in Vietnam to around US$3 billion since it entered the market in 2012.

Central Group chairwoman Wallaya Chirathivat said Vietnam remained an important market for the group’s international expansion, supported by economic growth, rising consumer spending and opportunities beyond the country’s largest cities.

Central Retail, the group’s retail arm, is expected to invest about US$1.5 billion to expand its store network over the next several years. The company currently operates hundreds of stores and shopping facilities across Vietnam under brands including GO!, Tops Market, Nguyen Kim and other retail formats.

The expansion will focus increasingly on secondary cities and provincial areas, where Central sees room to reach new groups of consumers as incomes and modern retail demand increase.

Central Pattana, the group’s property development arm, and Centara Hotels & Resorts are also expected to pursue new projects in Vietnam. These may include mixed-use developments, shopping centres and hotels, with some projects carried out through partnerships with local investors.

Central has already established a significant presence in Vietnam, with its retail operations spanning dozens of provinces and cities. The group has continued to expand its network as Vietnamese consumers shift towards modern retail formats and organised shopping centres.

The company sees Vietnam’s relatively strong economic growth and large population as important factors supporting its long-term strategy. Increasing urbanisation and rising household consumption are also creating opportunities for retailers and property developers.

The planned investment comes as Thai companies deepen their presence in Vietnam, where competition in the retail and property sectors has intensified alongside growing interest from international investors.

For Central Group, the next phase of expansion is intended to build on more than a decade of operations in the country. By increasing its retail footprint while developing property and hospitality projects, the group aims to strengthen its position in Vietnam and support longer-term growth across its businesses.