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Retail

Central to spend $1.4bn on expanding further in Thailand, Vietnam

Thai retail empire sees robust demand in post-COVID economies

Central Group's investment over the next five year is aimed fulfilling its ambition of becoming Vietnam's biggest food and property retail platform. (Photo by Akira Kodaka)

BANGKOK -- Thai retail conglomerate Central Group is planning to expand aggressively at home and in neighboring Vietnam, hoping to tap an expected jump in demand when the COVID pandemic ends.

Central Retail, the group's core retail arm, has set aside 30 billion baht ($848 million) to invest in Vietnam, where it intends to increase sales to 100 billion baht over the next five years, up from the current 38.6 billion baht, according to its business strategy published in its annual report.

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