Lotte Group chairman Shin Dong-bin discussed future investment plans with Vietnamese President Truong Tan Sang and Vice Premier Hoang Trung Hai on Thursday during his visit to the Southeast Asian country, officials said Friday.

It is the second time since February that Shin met the Vietnamese president to discuss Lotte Group’s business in Vietnam and seek ways to expand investment. Shin also visited Lotte’s business sites in the Southeast Asian country. 

Vietnam is one of the fastest growing markets for the global retail industry and the Seoul-based conglomerate first established Lotte Vietnam in 1996. Since then, the company has built up a significant presence there in many sectors including food, distribution and construction.

Lotte Center Hanoi, a 65-storey landmark building under construction, is expected to be completed by 2013, while other subsidiaries such as Lotte Mart, Lotte Confectionary and Lotte Cinema have expanded operations.

Shin’s business trip will be continued in Malaysia, Singapore and Indonesia where he will meet ministers to discuss future investment plans in the countries.

By Park Min-young  (claire@heraldcorp.com)