Customers check out at a Vinmart store.(Photo courtesy of Vingroup)
Hanoi (VNS/VNA)🃏 – Privateconglomerate Vingroup’s total net revenue rose 6.7 percent on-year to 130trillion VND (5.5 billion USD) in 2019.
Total pre-tax profit last year was up 12.5percent year-on-year to 15.6 trillion VND, according to the firm’s auditedfourth-quarter financial report. Total post-tax profit gained nearly a quarterto 7.72 trillion VND in 2019. As of December 31, 2019, the firm’s totalasset reached 403.7 trillion VND and equity was worth 120.6 trillion VND,annual increases of 40 percent and 22 percent, respectively. In 2019, Vingroup reported it sold 64.3 percentof ownership or 414 million shares in VCM Services and Trading Development JSCto consumer company Masan for a profit of 8.5 trillion VND. In return, Vingroup would receive some stockoptions in a joint venture set up later by Masan and Vingroup. The deal wascompleted in early December 2019. VCM was the unit that operated e-retailerVincommerce and farming business Vineco. In the first three months of 2020, Vietnamesebusinesses have struggled with the spread of coronavirus which hit thelocal economy quite hard. Vingroup and its member companies havechanged its ways of doing business to adapt to the situation. Online platforms have become a prioritytool for “Vin” companies to promote their products and reach out to customers,such as residential property developer Vinhomes, automaker VinFast and phonemanufacturer VinSmart. Shopping mall operator Vincom Retail hastaken measures to sanitise shopping centres and increased protection forconsumers. The company has also introduced a 300 billion VND stimulus packagefor its clients./.
The imminent loss of tourism revenue due to the coronavirus disease (COVID-19) epidemic has prompted the tourism sector in the northern port city of Hai Phong to outline plans to recover local tourism after the epidemic ends.
Conglomerate Vingroup recently proposed a relief package worth 100 billion VND (4.23 million USD) to procure medical equipment and chemicals for testing of the novel coronavirus SARS-CoV-2 that causes COVID-19.
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.
Customers check out at a Vinmart store.(Photo courtesy of Vingroup) 
