TOKYO/YANGON -- Japan's Aeon plans to open a shopping center in Myanmar as early as 2023, tapping into a middle class whose spending power is expected to rise in the coming years, Nikkei has learned.
Japan's largest retailer will set up a joint venture this spring with Myanmar conglomerate Shwe Taung Group to begin work on an Aeon Mall in Yangon. Partnering with Shwe Taung, parent of Myanmar's top mall operator, will help Aeon attract the popular, big-name tenants needed to help its shopping center business grow.
