July retail sales plunges nearly 20 pct year-on-year due to COVID-19
Total retail sales of goods and services shrank 8.3 percent month-on-month in July to 339.4 trillion VND (14.84 billion USD) as a result of restrictions induced to stem the ongoing COVID-19 outbreak, according to the General Statistics Office (GSO).
Hanoi (VNA) - Total retail sales of goods andservices shrank 8.3 percent month-on-month in July to 339.4 trillion VND (14.84billion USD) as a result of restrictions induced to stem the ongoing COVID-19outbreak, according to the General Statistics Office (GSO).
The figure was 19.8 percent lower than a year earlier since thefourth coronavirus wave, which forced many southern cities and provinces to imposesocial distancing, is taking heavy toll on trade, transport andtourism, the GSO said on July 29.
This month, the transport sector carried an estimated 146.3million passengers and 111.5 million tonnes of cargo, down 50.4 percent and24.3 percent, respectively, from the same month of last year.
Total retail sales of goods and services in the first sevenmonths of this year exceeded 2.79 quadrillion VND, up 0.7 percent year on year.Close to 1.92 billion passengers were transported during the period, down 9.6percent, while cargo transport reached 987.4 million tonnes, up 3.1 percent.
The Ministry of Industry and Trade is formulating specificplans to stimulate consumption and sustainably develop the domestic market./.
The total retail sales of goods and consumer services in Ho Chi Minh City in June was estimated at over 81.4 trillion VND (3.53 billion USD), down nearly 8 percent month-on-month and 5.1 percent year-on-year, reported the municipal Statistics Office.
According to General Statistic Office, in the first six months of 2021, total retail sales of goods and services went up 4.9 percent compared to the same period in 2020 to 2,463.8 trillion VND (over 107 billion USD), of which goods retail revenue hit 1,985.4 trillion VND, up 6.2 percent.
Vietnam has the highest number of people shopping on e-commerce platforms in the Southeast Asia region with some 49.3 million people, according to the E-commerce White Book 2021 released by the Vietnam E-Commerce and Digital Economy Agency (IDEA).
Ho Chi Minh City, the biggest economic hub in southern Vietnam, aims to sustain growth momentum in the remaining months of 2021 even when it is battling the worst-ever COVID-19 resurgence which began in late May.
A strategy for developing domestic trade between 2021 and 2030 has been signed off by Deputy Prime Minister Le Van Thanh, aiming to raise domestic trade’s proportion in the country’s GDP to 15 - 15.5 percent in the next 10 years.
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.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Illustrative photo. (Source: VNA)
