A The Gioi Di Dong shop in Vietnam. (Photo: vietstock.com.vn)
HCM City (VNA) -✱ Giant mobile phone retailer The Gioi Di Dong Joint Stock Company has announced plans to diversify into other retail segments in the next five years.
The Gioi Di Dong’s CEO Tran Kinh Doanh said to achieve the goal, the company, besides developing its mobile and electronic product chains thegioididong.com and ĐiệnmáyXanh, would also focus on its Bach Ho Xanh chain of mini marts.
Mobile World began to develop the minimart chain — which sells vegetables, fresh meat, fish, and others — in the last quarter of 2015, and it has more than 10 outlets in HCM City.
Doanh told the English-language daily Viet Nam News that in 2016 the focus would be on developing the brand and not expansion.
The business is expected to break even in 2017, he said.
In 2016-20, The Gioi Di Dong plans to enter foreign markets by starting operations in neighbouring countries including Laos, Cambodia, and Myanmar.
Human resources have been trained well for this new venture and the company is ready, Doanh emphasised.
Another goal the company has set for itself in the next five years is becoming a leader in e-commerce, but it has not divulged details yet.
On January 20, The Gioi Di Dong reported that its 2015 revenues for the first time exceeded 1 billion USD.
Both revenues and profit overshot the target by 20 percent.
In 2016, the company targets revenues of over 34 trillion VND (1.5 billion USD) and profit after tax of over 1.4 trillion VND (64 million USD).-VNA
Five Vietnamese businesses including supermarket chains Saigon Co.op and BigC, Nguyen Kim Trading JSC, Saigon Jewelry Co. Ltd. and Mobile World JSC have made the Top 500 retailers in the Asia-Pacific region 2014.
Sales of feature phones declined sharply last year though the number sold was still higher than that of smartphones, the Saigon Times Daily reported, citing data released by retailers.
Although a number of foreign companies have made a foray into the local electronics retail market, there are still room for domestic firms to open and operate their own supermarkets, according to industry insiders.
The mobile phone market, especially the smart phone market, will continue to witness the discounting of products as manufacturers race to introduce new products and retailers race to gain market share.
The HCM City Department of Industry and Trade will launch its first online shopping day on August 29 on the website www.khuyenmaitructuyenhcm.gov.vn in an aim to enhance trust among consumers.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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.
A The Gioi Di Dong shop in Vietnam. (Photo: vietstock.com.vn)
