Central invests VND 800 billion in Dak Lak: what it means now for Japanese brands entering provincial malls

The Vietnamese arm of Thai retail giant Central Retail has announced plans to invest roughly VND 800 billion (about $30.4 million, assuming $1 ≈ VND 26,000) in Dak Lak Province in the Central Highlands to build additional GO! shopping centers and mini go! supermarkets. A memorandum of understanding (MoU) was signed on June 27, 2026, between Dak Lak Province's Department of Industry and Trade and Central Retail's subsidiary Viet Nhat Real Estate JSC, covering five locations within the province. As competition among foreign retailers to open stores spreads from provincial capitals to rural provinces, this gives Japanese brands targeting middle-class consumption in regional areas concrete decision-making material on "which mall to enter, and in what order, to secure shelf space."

Five locations in Dak Lak Province: rolling out GO! and mini go! across the area

The memorandum of understanding that Central Retail Vietnam signed with Dak Lak Province covers building shopping centers and supermarkets at a scale of VND 800 billion. The locations named are the wards of Tuy Hoa and Buon Ho, and the communes of Quang Phu, Krong Pac, and Dong Hoa. The plan is structured around the existing GO! Buon Ma Thuot as a hub, expanding outward to surrounding mid-sized cities and communes. The company's CEO, Olivier Langlet, positioned the move as part of its "Better for Vietnam" strategy centered on local products, indicating an aim to put Dak Lak's agricultural products, such as coffee, avocado, durian, and mushrooms, onto national and overseas distribution networks.

Why Dak Lak, why now: the new Dak Lak Province transformed into "highlands plus coast"

A key factor in reading this investment is the provincial merger that took effect on July 1, 2025. Dak Lak Province in the Central Highlands and Phu Yen Province on the south-central coast were merged into a single "Dak Lak Province," expanding its area to about 18,096 square kilometers and its population to 3,346,853. That is why "Tuy Hoa" appears in the MoU: Tuy Hoa, the former capital of Phu Yen, was incorporated as the new Dak Lak Province's coastal base. The highland coffee-growing region and the coastal fishing and tourism industry have become a single economic zone, creating a trade area that spans, in one continuous stretch, from the provincial capital Buon Ma Thuot to coastal Tuy Hoa. Central Retail's five-location rollout can be read as a move to get ahead of this newly connected trade area.

Central's regional push, by the numbers

This Dak Lak investment is not a sudden, isolated move. Central Retail has continued opening new regional malls in Vietnam, and the most recent confirmed figures are as follows.

For the dollar conversion of the Dak Lak investment, the $30.4 million figure from local media reports was used as is. The figure of "46th in the network" shows that GO! has entered a phase of standard rollout not only to provincial-capital-tier cities but also to mid-sized cities. The five Dak Lak locations are an extension of that trend.

How it is being received locally and in the industry

Dak Lak Province has presented this MoU as an achievement at planning announcements and investment promotion conferences, foregrounding its aim to bring modern retail closer to the region and stimulate consumption. Central, for its part, emphasizes a "two-tier structure of production area and mall" that puts local agricultural products onto national and overseas distribution networks. Among retail practitioners, it is noted that while regional malls have lower rents than urban ones, filling tenant space is harder; Central's approach of building a reason to draw customers around local products is seen as a practical solution to avoid vacant tenancies. There is also a persistent view that, while the middle class in regional provinces still spends less per purchase, the small absolute number of modern retail spaces means the first store to move in tends to become the region's "go-to" option.

Which mall, and when, should Japanese brands enter

Translating this move into practical terms for Japanese consumer goods and retail companies, the decision comes down to one point. Launch a small-footprint, single-SKU test at the existing GO! Buon Ma Thuot first, and gather regional consumption data before the opening schedule for the five locations is finalized—this is the most reproducible action. Regional malls tend to have empty shelf space, giving more room to negotiate terms than with major players, and entering early makes it easier to secure a good spot. Because Dak Lak's shelf space is especially strong in local products like coffee and durian, the standard playbook for Japanese companies is to target categories that don't compete with local products, for example confectionery, seasonings, daily necessities, and baby products, categories where local substitutes are scarce. Conversely, going head-to-head in fresh produce or primary-processed goods, where the production area is strong, is not a wise move.

It should also not be overlooked that coastal Tuy Hoa has entered the same trade area. Because highland and coastal consumers differ in both price sensitivity and taste, the real test for tenants is whether they can split shelf allocation between an inland format and a coastal format, rather than attacking all five locations with a uniform product lineup. Already in Vietnam, the shift of fast food toward regional cities is unmistakable, and both dining and retail have entered a phase of chasing "what comes after the provincial capital."

Ripple effects on the market: the mall network becomes regional consumption infrastructure

Central's regional push is part of a broader trend in which foreign-owned malls are remaking Vietnam's regional consumption infrastructure itself. The same pattern extends to Japanese companies as well; AEON Mall is likewise rolling out regionally all at once in Da Nang, Ha Long, Thanh Hoa, and Bac Ninh, an expansion effort. As the mall network becomes denser across provinces, tenants can shift their thinking from "negotiating city by city" to "negotiating the network as a whole." If a brand can design logistics and inventory on the assumption of opening at multiple malls together, the launch cost per store falls. On the retail front lines, such rural and regional store networks becoming a growth engine are already emerging as real examples, and the pattern is becoming clear: companies that secure regional shelf space early will capture domestic demand over the next several years.

Practical notes for companies considering store openings

• First, treat the existing GO! Buon Ma Thuot as the starting point of the trade area, and use the response there to inform the rollout decisions for the five new locations.
• Because the opening timing and the scale of each location are undetermined at the MoU stage, follow Central Retail Vietnam's official releases for confirmed information as it comes out.
• Target shelf space in categories that don't compete with local products (coffee, durian, etc.), and avoid head-on competition in fresh produce where the production area is strong.
• Build tenant plans on the assumption of splitting the product lineup and price points between the highland side (Buon Ma Thuot) and the coastal side (Tuy Hoa).

Summary: secure "what comes after the provincial capital" first

Central Retail's VND 800 billion Dak Lak investment is a sign that the frontier for foreign retail store openings has shifted from provincial capitals to regional cities and communes. The next action for Japanese brands is clear: run a small test opening at the existing GO! Buon Ma Thuot, build a foothold in categories that don't compete with local products, track the opening schedule for the five locations through official information, and provisionally secure a good spot before opening. Now, while regional malls tend to have empty shelf space, is when there is the most room to negotiate. While you wait and watch from the provincial capital, the region's "go-to" spot will be filled by whichever store gets in first.

Sources

• Nhan Dan Online"Central Retail Viet Nam plans 800 billion VND investment in Dak Lak"
• Baomoi"Central Retail Việt Nam muốn rót 800 tỷ đồng đầu tư tại Đắk Lắk"
• Inside Retail Asia"Central Retail bets big on Vietnam with 30 new stores planned"
• VietnamNet"Dak Lak and Phu Yen merge: A new province linking mountains and sea"