Thua Thien-Hue to revoke project licenses

The Thua Thien-Hue Industrial Park Management Board, in a review of suspended projects, has asked provincial authorities for permission to revoke the licenses of 13 projects with total registered capital of VND653 billion (US$30.8 billion). Companies with big projects to be revoked include Tai Sun Viet Nam Co., Thua Thien Hue Ceramic Tiles and Minerals Co, and Tsunoda Viet Nam Co. The province's committee also plans to revoke the licenses of 20 projects. Six of the projects are located in the … [Read more...]

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Vietnam retailers revving up their competitive edge

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(VOV) - In a move certain to unleash fierce competition in the nation's retail market, Vietnam will fully open it to foreign retailers as of January 2015, in line with World Trade Organisation (WTO) commitments. When the gloves come off, tens of thousands of goods from ASEAN member countries will be duty free, which is certain to lead to intense price competition as competitors jockey to get the lion's share of the country's 90 million strong consumer market. However, in the lead up to January … [Read more...]

Building Confidence in Vietnam Brands

By the middle of 2014, the "Buy Vietnamese" Campaign - a movement that encourages Vietnamese people to give priority to made-in-Vietnam products on their shopping list - has been in place for five years, with positive results. Consumers are increasing their appreciation for Vietnamese goods. According to surveys, 71 percent of consumers have confidence in high-quality Vietnamese goods. Domestic goods still account for a large share, some 80-90 percent, in supermarkets. According to recent … [Read more...]

Foreign investors dominate retail

HCM CITY (VNS) — Vietnamese retailers risk losing the domestic market, which will soon be dominated by foreign ones, the Lao dong (The Labour) newspaper reported on Wednesday. Currently, Viet Nam has about 700 supermarkets and trade centres, 40 per cent of which are owned by foreign retailers. Officials at the Ministry of Industry and Trade, say that the domestic commodity market will see a growth rate of 14 per cent on average this year and next. Looking at projections for 2015, total … [Read more...]

Obstacles block formation of supermarket joint venture

Hapro Mart is popular in Ha Noi. — File Photo

HA NOI (VNS) — Domestic retailers have failed to forge an alliance to compete with foreign rivals, experts have said. Four large domestic retailers - Satra, Hapro, Phu Thai and Sai Gon Co-op - planned to build a large retail group, VDA, with a strong trademark that could compete with foreign trademarks and would be the driving force in the local retail industry. However, the plan fell through for many reasons. Pham Dinh Doan, Phu Thai Group chairman, told Thoi bao Kinh Doanh newspaper that … [Read more...]

Consumers opt for local goods

People shop at Hapro Market in Ha Noi's Hai Ba Trung District. A campaign launched three years ago to encourage Vietnamese consumers to purchase locally-made products is showing signs of progress. — VNA/VNS Photo Quang Quyet

HA NOI (Biz Hub)— A campaign launched three years ago to encourage Vietnamese consumers to purchase locally made products is showing signs of success, according to the Ministry of Industry and Trade. Up to 59 per cent of consumers have prioritised using Vietnamese goods, while 38 per cent have advised their families and friends to choose home made products and 36 per cent have stopped buying or have bought fewer imported goods, having replaced them with local goods, said Le Viet Nga, deputy … [Read more...]

Hanoi encourages use of environment friendly bags

Shopkeepers in Dong Xuan market mobilized to use paper bags (Photo: VNA)(CPV) - In order to communicate to all people the harmful effects of plastic bags on the environment, thereby raising awareness of the units, organizations and individuals of environmental protection, Hanoi directs the departments, sectors, districts and related agencies to promote the implementation of a program restricting the use of plastic bags, for the sake of the environment, and replacing them with environment … [Read more...]

BUSINESS IN BRIEF 22/6

ADB-funded project brings power to Lai Chau province Households in 31 mountainous communes in northern Lai Chau province on June 19 gained access to electricity as a project to expand and improve the province's rural power grids started generation. The generation is part of an Asian Development Bank (ADB)-funded programme to develop renewable energy, expand and improve power grids in remote rural areas. The two-phase programme has a total investment of over 948 billion VND (45 million USD), … [Read more...]

“Buy Vietnamese Goods” Campaign receives great response

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(VEN) - Vietnamese goods have accounted for the majority of items on sale in the domestic market thanks to improved consumer awareness and changes in Vietnamese consumer tastes, plus greater business awareness of the need to improve product quality while reducing prices, according to reseach made during the three-year "Buy Vietnamese Goods" Campaign. On the occasion of the Year of the Snake, Vietnam Economic News' Bao Ngoc interviewed Deputy Minister of Industry and Trade Ho Thi Kim Thoa, member … [Read more...]

Economic slowdown curtails Tet spending

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With relish, Lu Thu Trang filled her shopping cart with Lunar New Year treats. Customers at a supermarket in Hanoi last week. … [Read more...]

BUSINESS IN BRIEF 2/5

New corrections weaken market uptrend After the release of positive data related to the consumer price index and trade deficit, shares rebounded on both national stock exchanges last week. "However, the economy does not seem to be brighter as the ease in the index was mainly due to spending reduction, decreasing industrial production and more inventory," commented FPT Securities Co analyst Le Thi Bich Hang. On the HCM City Stock Exchange, the VN-Index closed the month of April at 473.77 … [Read more...]

HCM City’s inflation slows in October

A woman checks the products at a Hapro Mart store.

HCM City's consumer price index (CPI) this month increased by 0.18 percent over last month, according to the municipal Statistics Office. The increase was lower that the CPI rise of 0.45 percent for October 2010, the office said. This contributed to a rise of 14.69 percent from the beginning of this year and 18.55 percent for the same period of last year. In the last two months, there has been a big price hike in the education sector, up 2.16 percent because school fees rose between 0.42 … [Read more...]

Foreign distributors cannot “bully” domestic retailers

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VietNamNet Bridge - Contrary to the predictions given before, when Vietnam began joining WTO that domestic distributors would be "swallowed" by foreign groups, Vietnamese enterprises have been growing and becoming more and more competitive. The prediction that a series of big distribution groups would land in Vietnam cannot raise any worries any more. Some foreign distributors are really eyeing Vietnam, but most of them are the Asian names, and not big. The more worrying thing for domestic … [Read more...]

Building Trade Centre, Supermarket System in Hanoi: In Need of Stronger Drives

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Markets & Prices Last updated: Friday, January 25, 2013 Building Trade Centre, Supermarket System in Hanoi: In Need of Stronger Drives Posted: Thursday, June 16, 2011 In 2010, the total turnover of goods and service revenues in Hanoi reached VND885 trillion, accounting for 80 percent of retail sales in the north of Vietnam. This result was significantly contributed by trade centres and supermarkets in the capital city. Big names like Vincom, Intimex, Hapro Mart and Metro have become … [Read more...]

Local confectionery goods a hit for Tet

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Consumers are turning their back on generic imports instead choosing more expensive local goods as Tet approaches. Prices of confectionery products increase by 30% At present, Vietnamese-branded confectionary products account for 90% at big supermarkets in Hanoi like BigC, Fivi Mart and Hapro Mart. Prices of these products have increased by 30% against last year. Mrs. Ha from Dich Vong Ward, Cau Giay District, said, "Currently imitation products are flooding the market and it is not easy to … [Read more...]

National Day promotions pack supermarkets with customers

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National Day saw supermarkets packed to the max in Hanoi and Ho Chi Minh City. … [Read more...]

Campaign to cut plastic bags use

Sunday without Plastic Bags programme aiming to reduce the use of plastic bags (for illustration only. Photo: etieudung)

A programme aiming to reduce the use of plastic bags has been launched by the Hanoi Department of Environment and Natural Resources. The plan will be deployed widely throughout the capital, which will include all 10 districts, 18 suburban districts and one town. The programme, Sunday without Plastic Bags, will kick off next August 1 at Ho Tay Waterpark, Hanoi. Leaders from the State, representatives from enterprises and foreign organisations, volunteers and the public will join in the … [Read more...]

Hanoi to cut plastic bags use

A programme aiming to reduce the use of plastic bags has been launched by the Hanoi Department of Environment and Natural Resources. The plan will be deployed widely throughout the capital, which will include all 10 districts, 18 suburban districts and one town. The programme, Sunday without Plastic Bags, will kick off next August 1 at Ho Tay Waterpark, Hanoi. Leaders from the State, representatives from enterprises and foreign organisations, volunteers and the public will join in the … [Read more...]

High prices linger following Tet

The Lunar New Year (Tet) festival is ten days old but the 'imprint' of Tet remains in many products, particularly meat, vegetables and bulbs. Of course, their prices are not as high as before Tet but are still much higher than usual. People are wondering whether they will eventually return to normal or if a new level of prices will be established. Surveys by VOV reporters in Hanoi indicate that the prices of many types of meat, fish, shrimp, vegetables and bulbs doubled or tripled for several … [Read more...]

Vietnamese Retail Market Moving at Slow Pace

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The phrases "the most attractive market in the world" and "the potential market" have become popular in the Vietnamese retail market.. However, the market has not yet seen remarkable changes after January 1 this year when Vietnam officially opened the market. Is the retail market going down and unattractive? Absence of new investors Unlike the forecast about attraction of big investors, the Vietnamese retail market has received a small number of investors with no huge projects since early … [Read more...]