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Japan's top retailer Aeon to open mall in Myanmar by 2023

Group extends pivot to Southeast Asia with joint venture

Aeon is teaming with Shwe Taung, parent of Myanmar's top mall operator, with an eye toward the country's growing middle class. (Photo by Yuichi Nitta)

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.

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