Thailand’s Central Retail is stepping up its investment in Vietnam, with plans to launch more than 30 new large-format stores across the country in the coming years.

The expansion will include 10 to 12 Go! malls and hypermarkets, as well as 23 to 25 mini Go! stores between 2026 and 2028, according to a report by Nikkei Asia.

Vietnam has become a key battleground for both international and domestic retailers, with companies such as Japan’s Aeon, South Korea’s Lotte and local chain WinMart expanding their presence to tap into rising household spending.

Since entering Vietnam in 2012 with its fashion retail business, Central Retail has grown into one of the country’s largest foreign multi-format retailers. 

The company currently operates 43 Go! hypermarkets, along with 16 mini Go! malls, nine Tops Market supermarkets and 23 LanChi Mart stores nationwide.

Alongside its physical expansion, the retailer is continuing to strengthen its digital capabilities. 

However, Nikkei Asia reported that the company noted complex land procedures and licensing requirements for foreign-invested shopping mall projects remain a challenge and could affect development timelines.

Earlier this year, Central Retail also sold its entire stake in Nguyen Kim Electronics, exiting Vietnam’s consumer electronics segment after years of losses.