Ikea Vietnam plans to invest US$450 million on a retail centre and warehouse system in Hanoi, according to a government official.
Nguyen Duc Chung, chairman of the Hanoi People’s Committee, told a recent conference held by the Ministry of Industry and Trade that the Swedish furniture giant’s local subsidiary is well advanced with plans to launch in the country. Once completed, the centre will be Ikea’s main supply hub for its Southeast Asian market.
