Retail goods, services gross 1.4 quadrillion VND in four months
Retail goods and services generated revenues of nearly 1.4 quadrillion VND (63 billion USD) in the first four months of 2018, a year-on-year rise of 9.85 percent.
Hanoi (VNA) – Retail goods and servicesgenerated revenues of nearly 1.4 quadrillion VND (63 billion USD) in the firstfour months of 2018, a year-on-year rise of 9.85 percent.
Tourism recorded the strongest growth of 26.1percent thanks to economic recovery, increasing tourism demand, and theincreasing number of foreign tour packages in Vietnam, according to theMinistry of Industry and Trade.
Other groups saw a year-on-year increase rangingfrom 8 to 12.7 percent.
In April alone, the total sales of retail goodsand services reached over 350.5 trillion VND (15.3 billion USD), up 1.7 percentagainst the previous month and 9.54 percent over the same period last year.
The total revenue from retail sales and servicesreached 3.93 quadrillion VND (174.85 billion USD) in 2017, surging 10.9 percentyear-on-year, according to the General Statistics Office (GSO).
In 2016, Vietnam was listed in the top 30 mostlucrative emerging retail markets in the world for foreign investors in A.T.Kearney's Global Retail Development Index.
The country’s retail market is expected to growfast to meet surging demand for shopping and recreational activities from 2018to 2021.
According to Savills Vietnam – the largestproperty consultancy in Vietnam, numerous international retailers plan toinvest in the sector in Vietnam, including Thailand’s TCC group and CentralGroup, Singapore’s Mapple Tree and Kepple Land, Korean Lotte and Emart andJapanese Aeon and Takashimaya.
The participation of foreign investors will helpenhance retail service quality via mergers and acquisitions (M&A), andcooperation between domestic and foreign retailers.
The market also has room for shopping malls,supermarkets and one-price shops using technology in operation and management.
Online shopping and non-cash payments will beamong factors to change Vietnam’s retail market.
With an over-90 million population, nearly70 percent of whom are at working age, 34 percent living in urban areas andannual income per capita reaching 2,385 USD, Vietnam is considered to have hugeroom for retail growth.-VNA
Vietnamese producers of consumer goods should invest more in improving product quality and develop close links among themselves to negotiate better with foreign-owned retailers, a seminar heard.
The total national retail value of goods and services in August reached nearly 292.8 trillion VND (13 billion USD), with purchasing power declining 0.3 percent against July.
The Mekong Delta is emerging as a destination for both domestic and foreign retail companies who have spotted potential in the local retail market, the Cong Thuong newspaper reported.
Retail goods and services generated revenues of 704 trillion VND (30.88 billion USD) in the first two months of this year, a year-on-year increase of 10.1 percent.
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.
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&.
Customers at a supermarket in Hanoi (Photo: VNA) 
