Retail and consumer service revenues enjoyed good growth in the first quarter of 2022, rising 4.4 percent from the same period last year to 1,318 trillion VND (57.55 billion USD), according to the General Statistics Office (GSO).
Hanoi (VNA) – Retail and consumer service revenues enjoyed good growth in the first quarter of 2022, rising 4.4 percent from the same period last year to 1,318 trillion VND (57.55 billion USD), according to the General Statistics Office (GSO).
Retail revenue alone picked up 5.8 percent year on year, with many domestic retailers posting positive signs in their business.
Mobile World Investment Corporation (MWG) reported that in the first two months of this year, the firm earned after-tax profit of 1 trillion VND (43.6 million USD), up 8 percent year on year.
Meanwhile, revenue generated from retail activities of Phu Nhuan Jewelry JSC (PNJ) rose 53.3 percent year on year in the first two months with earnings from online sales surging 115 percent.
Experts from KB Securities Vietnam JCC (KBSV) attributed the recovery in retailers’ revenue to the reopening of the economy and the resumption of entertainment activities.
To maintain this development trend, businesses are expanding their operations and distribution network to bring their products closer to customers.
The FPT Digital Retail Joint Stock Company (FPT Retail) plans to open additional 70 new laptop shops to maintain its position as the leading laptop retailer in the country. It will also launch about 100 new FPT Shops across the country.
Meanwhile, it will expand the coverage of its Long Chau pharmacy chain to all 63 localities across Vietnam, increasing the number of the pharmacies to about 700-800 this year.
In 2022, FPT Retail targets revenue of 27 trillion VND and after-tax profit of 720 billion VN, up 20 percent and 30 percent over the previous year, respectively.
MWG has also announced its plan to shake hands with Erajaya Group to form PT Era Blue Elektronik (Era Blue) joint venture to develop the largest electronics retail chain in Indonesia.
KBSV experts held that a young population and the high GDP growth rate of Vietnam will help boost the retail sector’s growth in the future. However, they predicted that inflation will be among factors that prompt consumers to tighten their spending, which may slow down the sector’s expansion./.
Retail petrol prices reduced by more than 600 VND per litre from 3pm on March 21 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
Retail petrol prices fell by more than 1,000 VND per litre from 0:00 on April 1 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
Vietnam’s total revenue from retail sales of goods and services reached 1.3 quadrillion (56.9 billion USD) in the first three months of this year, a year-on-year increase of 4.4 percent, according to the General Statistic Office (GSO).
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.
Illustrative image (Source: VNA) 
