Vietnam and Ho Chi Minh City in particular are considered to hold promise for retailers from home and abroad on the back of the large, young population and rising consumer price index amid the COVID-19 pandemic.
HCM City’s retail market has seen a number of mergers and acquisitions recently (Photo: VNA)
HCM City (VNA) - Vietnam and Ho Chi Minh City in particular are considered to hold promise for retailers from home and abroad on the back of the large, young population and rising consumer price index amid the COVID-19 pandemic.
The municipal Statistics Office reported that the total retail sale of goods and services in the city reached over 456.1 trillion VND (19.8 billion USD) in the first five months of this year, up 8.9 percent year-on-year. The May figure topped 89.9 trillion VND, down 0.1 percent month-on-month but up 13.1 percent year-on-year.
Five-month trade revenue hit 255.5 trillion VND, up 9.5 percent compared to the same period last year. Accommodation and dining services earned more than 32.1 trillion VND, up 30.8 percent year-on-year.
Most notably, the city’s retail market saw a number of merger and acquisitions, while retailers and companies are competing to win market share via opening new points of sale and marketing trademarks in residential areas.
Director of Commercial Leasing at Savills Vietnam Tu Thi Hong An said the retail real estate sector in HCM City is receiving foreign investment flows from new franchises in dining, fashion, and accessories.
She added that one day after a deal between Republic of Korea retailer E-mart and the Truong Hai Auto Corporation (THACO) was announced, Chinese giant Alibaba and Baring Private Equity Asia (BPEA) reached a deal to outlay 400 million USD on buying a 5.5 percent stake in The CrownX, an e-commerce platform owned by the Masan Group Corporation, to operate the VinMart and VinMart+ supermarket chains.
🌟 The deal is one of the largest for Alibaba in Southeast Asia since it bought Lazada in 2018 for 4 billion USD. It will give Alibaba and Lazada access a network of more than 2,000 outlets without having to spend time and money establishing a distribution network. Consumers will also see products sold in VinMart available on Lazada and can pick up orders from Lazada at VinMart./.
The Republic of Korea (RoK)’s conglomerate SK Group said it will make a strategic investment in VinCommerce, Vietnam’s largest retailer, to tap into the fast-growing e-commerce segment in the Southeast Asian market, reported Yonhap News Agency.
An influx of foreign investment, the rise of e-commerce, and the sound containment of COVID-19 are believed to have driven growth in HCM City’s retail sector despite the considerable impact of the pandemic, according to the Cong Thuong (Industry & Trade) newspaper.
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.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
HCM City’s retail market has seen a number of mergers and acquisitions recently (Photo: VNA)
