Lotte Group chairman Shin Dong-bin discussed future investment plans with Vietnamese President Truong Tan Sang on his visit to the Southeast Asian country on Monday, officials said Tuesday.

Starting with Vietnam, Shin has been traveling Southeast Asian countries including Myanmar, India and Bangladesh during a weeklong tour that started Sunday.

Vietnam is one of the fastest growing markets for the global retail industry and Seoul-based Lotte has built up its presence there in recent years. 

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.

More recently, Lotte Home Shopping started broadcasting from Feb. 10 via Lotte Datviet, a joint venture established with Datviet, a Vietnamese media group.

During their meeting at the Presidential Palace in Hanoi, Shin spoke about Lotte’s recent business projects in Vietnam and expressed his gratitude for the Vietnamese government’s support.

Shin’s trip came one year after his father and former chairman Shin Kyuk-ho stepped down, prompting speculation that Lotte would be more active in entering Asian markets this year.

He was accompanied by president of Lotte Super and Korea Seven So Jin-sei and Lotte Mart CEO Noh Byoung-yong.

By Lee Ji-yoon (jylee@heraldcorp.com)