Imex Pan–Pacific says will build luxury shopping malls
By Quoc Hung - The Saigon Times Daily
HCMC - Imex Pan–Pacific Group (IPP Group) said on Monday it would build luxury shopping malls across the country and continue to bring premium global brands to Vietnam to capitalize on the trend of high-class trade and tourism in Vietnam.
Jonathan Hanh Nguyen, CEO of IPP Group which has invested in 26 projects in Vietnam with total capital of US$240 million in the past 25 years, said economic growth in the country was opening up big opportunities for the group to seize.
“Vietnam will be the Tiger of Asia… We are on the way of preparing to take that great opportunity,” he said at a function last night to receive the Labor Medal Third Class from the President of Vietnam in recognition of his contribution to growth in the country.
“Our group will continue to invest in luxurious shopping malls across the country and to bring premium global brands to Vietnam in order to create and lead the trend of high-class trade and tourism in Vietnam,” he said at the event which was also held to mark the company’s 25th year in Vietnam.
In HCMC, the group is joining forces with Saigontourist Holding Company to turn the ground floor of the Rex Hotel into a luxurious shopping mall. The group will bring global brands to the luxury mall, he said, to make it a new destination for local and foreign high-end shoppers thanks to the presence of the world’s luxury fashions.
Besides, the group also is going to open the first outlet of Christian Dior brand at the Continental Hotel in District 1.
In Hanoi City, the reconstruction of Trang Tien Plaza into a top commercial center as a joint effort between the group and Trang Tien Investment Co. Ltd. has been authorized by the municipal government, said the Filipino investor of Vietnamese origin.
IPP Group, a distributor of high-end fashion and cosmetics brands, has plans to develop 30 hi-end outlets in Hanoi and HCMC this year, having opened 20 stores in the two cities under various brands including Lancome, Biotherm, Ferragamo, Bally, Tumi, Chanel, and Christian Dior among others.
Returning to Vietnam in 1984 as Philippines Airlines representative in Vietnam before investing in the country on his own, Jonathan Hanh Nguyen has poured money into many projects in the country.
Since 1985, the group has involved itself in many projects ranging from gifts and air cargo service in HCMC to mining in Khanh Hoa, from automobile production, to hotel and restaurant development. Of note is the group’s duty-free shops having been opened in many places such as Tan Son Nhat and Noi Bai airports, and Moc Bai, Lao Bao, Lao Cai, and Tinh Bien border gates.
At the ceremony, Jonathan Hanh Nguyen donated VND1 billion to build houses for the poor in Ben Cau District in Tay Ninh Province. In the past three years, the group has donated over VND28 billion for the social charity activities in Vietnam.