Lotte Mart Go Vap on Phan Van Tri will cost US$45 million, Hong Won Sik, general director of Lotte Vietnam Shopping, said.

The new store will have shops selling fashion and jewellery items, a food court, an entertainment area, a cinema, a supermarket area and other facilities.

The company has invested $600 million in its 11 stores the country, and plans to expand to 60 by 2020, he said.

Hong told a press conference in HCM City on April 21 that more than 90 per cent of Lotte Mart’s products are sourced in Vietnam , and it would strive to increase the rate.

This year the company would continue to organise programmes to promote exports of Vietnamese products to South Korea, he said.

Lotte Group would invest in a $2 billion property complex in HCM City’s Thu Thiem, he added.