Japanese retail giant Aeon to branch out to Myanmar

Japan's biggest supermarket chain, Aeon, will branch out to Myanmar as the first major Japanese retailer in the country.

The project calls for setting up a representative's office here in March to lay the groundwork for launching a shopping mall in Yangon by 2016, Xinhua reported Monday citing its sources.

The Myanmar government has revamped the nation's foreign investment law, allowing foreign retailers to invest in large-scale retailing business.

Aeon already has retailing operations in China, Malaysia and Thailand.

Last month, it opened a shopping mall in Vietnam's Ho Chi Minh City. It also plans to expand its operation in Vietnam by 2020.