Thai Retail Giant CPN Partners with Sun Group for Vietnam Expansion
A significant new alliance has been forged between Thailand’s leading retail developer, CPN, and Vietnam’s prominent Sun Group. The collaboration, aimed at developing landmark projects across Vietnam, was formalized during the Thailand-Vietnam Business Forum 2026 held in Bangkok. The event saw the presence of high-profile figures, including Prime Minister Anutin Charnvirakul of Thailand and General Secretary Tô Lâm of the National Congress of Vietnam, alongside numerous delegates and business leaders from both nations.
CPN, a subsidiary of Central Group, already possesses a substantial and long-standing presence in Vietnam, built upon diversified business operations and ongoing investments. This new partnership with Sun Group is characterized as a “regional strategic move,” leveraging the combined strengths of two major regional entities. It underscores the increasing importance of Thailand and Vietnam as burgeoning hubs for economic growth, investment, and tourism within Southeast Asia.
Strategic Development Focus Across Key Vietnamese Cities
The joint venture intends to explore and execute development opportunities in three key Vietnamese locations: Da Nang, Ho Chi Minh City, and Phu Quoc. In Da Nang, the focus will be on creating large-scale commercial and shopping complexes situated along the Han River. These projects are envisioned as transformative lifestyle and experience centers designed to enhance the city’s appeal.
For Ho Chi Minh City, the collaboration targets substantial retail and integrated developments. These are planned for the eastern part of the city and its rapidly developing financial center, areas identified as crucial growth corridors.
In Phu Quoc, the emphasis will be on developing premium retail centers integrated with diverse experiences. This initiative aims to solidify the island’s status as a premier leisure destination and a world-class shopping haven.
Vision for Urban Transformation and Regional Growth
The overarching goal of these developments is to establish significant landmark destinations. These projects are expected to set new benchmarks for urban living, retail experiences, and international lifestyle offerings, while simultaneously contributing to Vietnam’s long-term economic and social advancement. CPN has indicated that these ventures align with its “global lens” approach to expansion, viewing mixed-use retail developments not just as commercial spaces but as platforms for future economic and lifestyle integration.
Beyond this specific partnership, CPN has outlined a broader investment strategy for Vietnam, planning to allocate approximately US$2 billion (equivalent to 66 billion baht) over the next 15 to 20 years. This commitment is part of a larger pursuit of strategic partnerships designed to foster sustained regional growth.
CPN’s extensive portfolio in Thailand includes 45 shopping centers, 53 residential projects, 11 office buildings, 13 hotels, and 16 community malls, demonstrating its expertise in developing and managing a wide array of retail and lifestyle destinations, as well as mixed-use projects across the nation.
