Hanoi (VNA) – Domestic retailers are facing a lotof challenges and losing market share to foreign rivals due to limited capital,scale and governance skills.
With a market value of 110 billion USD by 2016 which isexpected to soar to 180 billion USD by 2020, Vietnam is considered one of the30 most attractive retail markets worldwide. Well-known retail chains such asJapan’s Aeon, the Republic of Korea’s Lotte and Thailand’s Central Group arenot unfamiliar to consumers in major urban areas.
Statistics from the Ministry of Industry and Trade’sDomestic Market Department showed that retail sales in foreign-invested sector was7-8 times higher than those in domestic one.
In order to improve domestic retailers’ competitiveness, Hanoihas offered preferential loans and courses on improving governance skills andadopting advanced technologies.
Deputy Director of the municipal Department of Industry andTrade Tran Thi Phuong Lan said the city is striving to accelerate the progressof building shopping malls and supermarkets, working closely with departments,agencies and authorities of communes and districts to step up investmentattraction, and develop logistics services, mostly in Soc Son and Phu Xuyendistricts.
The department will continue with bank-business communityprogramme to facilitate firms’ access to preferential loans, and offeringcorporate training courses to improve management, sales and brand developmentskills.-VNA
Domestic enterprises in the retail industry should strengthen their connections to take better advantages of resources and increase their competitiveness over foreign investors.
Modern retail channels will account for 40 percent of the total retail sales by 2020, compared to only 25 percent at present, pushing domestic retailers into a fierce battle with foreign firms.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Source: VNA) 
