Leading South Korean retailer E-Mart will invest US$200m in Vietnam after signing a Memorandum of Understanding (MoU) with Ho Chi Minh City.
The MoU will see E-Mart build hypermarkets, supermarkets, commercial facilities and invest in local social development in the coming four years.
E-Mart opened its first US$60m supermarket last year, with parent company Shinsegae opening a toy library in Ho Chi Minh City.
Vietnam has opened to foreign retailers in the country since signed a free trade agreement, which has seen 7-Eleven announced it would open stores in Vietnam.
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