Vietnamese goods struggle to compete in local market

The Vietnamese-To-Use-Vietnamese-Goods campaign plays an important role in building a consumer culture that learns to purchase Vietnamese products and manufacture more Vietnamese goods of high quality. However, there remains many challenges in serving the local market and in exporting locally made goods. Business insiders and policy-makers have to seek solutions to handle these challenges. It is reported that at least 80-90 percent of Vietnamese goods are now on the shelves of many supermarkets. However, the Ministry of Trade and Industry said that distribution channels of Vietnamese goods in rural areas had not been stable and product promotion remains poor, resulting in low competition among local products. … [Read more...]

Vietnamese goods struggle to compete

HA NOI (VNS) — The Vietnamese-To-Use-Vietnamese-Goods campaign plays an important role in building a consumer culture that learns to purchase Vietnamese products and manufacture more Vietnamese goods of high quality. However, there remains many challenges in serving the local market and in exporting locally made goods. Business insiders and policy-makers have to seek solutions to handle these challenges. It is reported that at least 80-90 per cent of Vietnamese goods are now on the shelves of many supermarkets. However, the Ministry of Trade and Industry said that distribution channels of Vietnamese goods in rural areas had not been stable and product promotion remains poor, resulting in low competition among local products. … [Read more...]

Local spending remains modest

A woman shops for goods at an Intimex Supermarket in Ha Noi. Consumer spending rose 5.1 per cent in the first quarter of this year reaching US$33.4 billion, up 10 per cent over the same period last year. — VNS Photo Doan Tung

HA NOI (Biz Hub) — Consumer spending rose 5.1 per cent in the first quarter of this year reaching US$33.4 billion, up 10 per cent on the same period last year, the General Statistics Office (GSO) announced yesterday. In March alone, consumer spending reached $11 billion, rising 2 per cent on the previous month. However, not all welcomed the news, with GSO economist Vu Manh Ha describing the 5.1 per cent increase as a modest gain compared with the previous years. Consumer spending was 5.0 per cent and 4.5 per cent recorded in the same period in 2012 and 2013 respectively. Ha explained that a low consumer price index (CPI) had contributed to the modest rise. In the first quarter of 2014, CPI increased 4.65 per cent, while it rose to 16.4 per cent in the first quarter of 2012 and to 6.64 per cent in the first quarter of last year. He also noted that purchasing power in March had stayed low due to consumers reigning in spending after the Lunar New Year shopping season. Spending had … [Read more...]

Firms rush to export rice despite limitations

by Thien Ly According to a recent report by the Ministry of Industry and Trade, there has been a sharp increase in the number of companies seeking a licence to export rice. This race to rice export has placed many food companies in a risky situation and State management agencies in difficulty. There are 100 companies in the country meeting the necessary requirements for a rice-export licence stipulated in the Government Decree 109, and 40 others that can possibly meet them. The stipulations include having a warehouse with a capacity of at least 5,000 tonnes, a rice husking mill with a capacity of at least 10 tonnes of rice per hour, and capacity to export at least 10,000 tonnes of rice a year. The country turns out 42-43 million tonnes of rice per year of which only 7.5 million tonnes can be exported. Production of rice is concentrated in the Cuu Long (Mekong) Delta provinces of Kien Giang, An Giang, Dong Thap, Long An, Tien Giang, Can Tho, Soc Trang, Tra Vinh, Vinh Long, and Hau … [Read more...]

Phuong Dong Hotel

With professional and experienced staff, Phuong Dong hotel is an ideal choice of honored guests when you visit Nghe An - homeland of Ho Chi Minh, national liberation hero.

Located in the center of Vinh city, on 1A National Highway, Phuong Dong hotel is the 4 star hotel which is considered as the most beautiful and modern in the North Central of Vietnam. Phuong Dong is the 4 star hotel in Vinh City with 177 comfortable luxurious rooms which all have the view of whole city. It has a special situation which is opposite to Ho Chi Minh Square, Central Park and Intimex Supermarket. From here you can see the majestic Hong Linh mountain and the romantic Lam river. Phuong Dong hotel will make you have relax and refresh moments. There are full hotel facilities and services such as business center, 24- hour room service, foreign currency exchange, car rental from 4 to 45 seats, souvenirs shop, train ticket booking, pick - up service. Specially, there are Vietnam Airline agents and Phuong Dong international travel center in hotel in order to make customers more convenient when they stay in Phuong Dong hotel. Furthermore, our hotel also has attractive … [Read more...]

Activities on occasion of “Children’s Festival”

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At recreation, shopping facilities in the province, preparations for toys, entertainment shows, contests are being actively made to serve the children on the 1 June International Children's Day. An employee of Hai Duong Big C Supermarket's bread stall guides kids to make bread before participating in the "Kids become tiny bakers" contest on 1 June The International Children's Day 1 June is coming round; the employees of Hai Duong Big C Supermarket are busy preparing tools, toys and staging many art performances to serve the children and parents to the supermarket. To the supermarket, the children will join in the program of free of charge having photo taken with funny Mickey Mouse made up by the supermarket employees. In particular, to the "Festive Day of the children" held on 1 June, children with their parents will watch the animal circus, magic. In addition, on this day, the children have a chance to participate in the competition "Little Big C angel".... Equally exciting … [Read more...]

Intimex Supermarket’s sales increases nearly 20%

From the beginning of the year to the end of April, the Supermarket's sales obtained from VND150 to 200 million/ day, an increase of nearly 20% over the same period last year. From the beginning of the year to the end of April, the Supermarket's sales obtained from VND150 to 200 million/ day, an increase of nearly 20% over the same period last year, according to a representative of leaders from Intimex Supermarket (Hai Duong). On the occasion of the holidays 30 April and May Day, the Supermarket launches a promotional compaign: each customer buying goods valued at VND800,000 or more will be allowed to draw lots for a coupon to purchase goods valued at VND30,000 - 50,000. (HaiDuongnews) … [Read more...]

Fear of Loss Puts Brake on Divestment

Many State-owned enterprises (SOEs) in Vietnam are in a deadlock when they divest from non-core businesses because the order coupled with the divestiture is that they have to guarantee book values. Businesses bemoan difficulty At the request of the Vietnamese Government, SOEs must complete divestment from non-core industries from now to 2015. It is just over two years from the deadline but many giant firms find it very hard to execute the order which requires State capital preservation from divestiture. Ms Bui Thi Thanh Tam, General Director of Vietnam Northern Food Corporation (Vinafood1), said her company invested in three banks. However, Vinafood1 can only ensure capital preservation from the simultaneous divestment of three banks while it is too hard for them if retreats one by one. In addition to banking sector, Vinafood1 is also struggling to take out it investment capital from the real estate market. Previously, based on its land fund advantage, Vinafood1 built several … [Read more...]

Stabilization of essential goods prices during Quy Ty Lunar New Year

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Hai Duong Trade and Industry Department and enterprises are actively deploying the program to stabilize prices of essential goods during Quy Ty Lunar New Year. This is the first year our province implements this program. Five groups, items of goods are included in price stabilization: rice, RE sugar, cooking oil, frozen processed seafood, processed foods from pork and beef. The businesses involved in the plan of price stabilization are granted interest-free loans during program execution. The total capital to realize price stabilizing program this year is about VND23.7 billion from the province's financial reserve fund, meeting 3% - 5% of the total demand of the above mentioned 5 groups, items of goods. According to the Department of Trade and Industry, this year the 3 businesses eligible to participate in the program of price stabilization in the province are: Hai Duong Vinafood 1 JSC., Intimex Vietnam JSC. Branch and Hai Duong EB Co., Ltd. (Hai Duong Big C). Big C … [Read more...]

New law expected to increase food safety

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VietNamNet Bridge - Food production establishments and processors will be required to implement advanced food safety management systems to ensure food safety under the new safety bill. Under the law, which will take effect in July next year, food safety management systems such as the Good Management Practice (GMP), Good Agricultural Practice (GAP), Good Hygiene Practice (GHP) and Hazard Analysis and Critical Control Point standards could be applied, said Director of the National Agro-Forestry and Fisheries Quality Assurance Nguyen Nhu Tiep. … [Read more...]

Trade deficit with China on the rise

Viet Nam exported US$997 million worth of goods to China in February, bringing its total export value to the market in two months to $2.31 billion. — Photo ndh

HA NOI (Biz Hub) — Viet Nam's trade deficit with China has continued to widen over the past two months, a recent report of the Ministry of Industry and Trade revealed. According to the report, Viet Nam exported US$997 million worth of goods to China in February, bringing its total export value to the market in two months to $2.31 billion. Meanwhile, Viet Nam's imports from China reached over $4.48 billion in February. The latest import figure lifted the country's two-month import value from China to $7.48 billion. That had resulted in a trade shortfall of $5.17 billion, $2.8 billion higher than the figure reported a year ago, the Voice of Vietnam (VOV) quoted Deputy Minister of Industry and Trade, Do Thang Hai, as saying. Currently, Viet Nam's major exports to China include processed farm produce, seafood, cashew nuts and rubber, while its imports from the market are materials related to garments and textiles, leather shoes and aquaculture feeds. Hai said that stepping up … [Read more...]

Power tariff hike likely this month

Deputy Minister of Industry and Trade Do Thang Hai (standing) speaks at a press conference held by the Government in Hanoi on March 2 - PHOTO: TG

Tu Hoang The Ministry of Industry and Trade will consider the power tariff increase proposal by Vietnam Electricity Group (EVN) and report to the Prime Minister if the spike is within the range of 7-10%, Deputy Minister Do Thang Hai said at the Government’s press conference in Hanoi City on March 2. In case the rise is over 10%, he said, EVN will have to seek approval from the Ministry of Finance first before the trade ministry reports it to the Prime Minister. Hai admitted there have been many inquiries that if the power price can be lowered following fuel price reductions. "As electricity output from stations powered by diesel accounts for a mere 0.55% of the industry’s total, the world oil price plunge has left little impact on the power tariffs in the country," Hai explained. Meanwhile, there are many factors for the electricity tariffs such as coal whose price inched up 22% as of July 22 last year compared to August 1, 2013. Coal-fueled power plants produce … [Read more...]

Marketing in Vietnam— It’s changing

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The Hanoitimes - The government has a long-term economic plan for Vietnam – and an improved international and domestic marketing campaign is at the centre of it, Deputy Minister of Industry and Trade Do Thang Hai recently affirmed. At the conference, Hai added that the economic success the country has had over the past few years has largely been due to the support the government has provided Vietnamese businesses as they trade around the globe. It has also been the result of the welcome the government has extended to those who invest in the nation’s future. However it is time to pick up the pace of support for small and medium sized companies looking to export and to more broadly implement a marketing campaign aimed at increasing both international and domestic demand, Hai concluded. Deputy Director of the Trade Promotion Department under the Ministry of Industry and Trade (MoIT) Ta Hoang Linh echoed Hai’s views underscoring the point that it is time for a … [Read more...]

Anti-dumping protectionism: A double edged sword

(VOV) - Despite World Trade Organization (WTO) commitments made by countries around the globe to liberalize trade and fight against protectionism, the tendency to impose trade-restricting measures and harm exports of other countries has been on the upswing. Against the backdrop of a world economy in recovery, protectionism is particularly important because it runs contradictory to international integration and fuels continuing economic uncertainty. It also damages value chains. During the past 20 years there have been a total of 80 trade-unfriendly measures, principally anti-dumping lawsuits, lodged against Vietnam according to the Competitiveness Management Department under the Ministry of Industry and Trade. The number of measures filed affecting Vietnamese exports has been trending upwards, with the US accounting for the highest number, 20%. The European Union (EU) made up 15% of the total cases and India and Turkey, 11%. The number of incidences for which countries have imposed … [Read more...]

Ministries order petrol price stability over Tet

A petrol station in Viet Nam. The petrol prices will be kept stable during the Lunar New Year holiday. — Photo xangdau.net

HA NOI (Biz Hub) — The ministries of Industry and Trade, and Finance have asked fuel enterprises to keep retail petrol prices stable during the Tet (Lunar New Year) holidays. The order was issued in view of the "complicated" global oil price fluctuations. The Deputy Minister of Industry and Trade Do Thang Hai said he had sent express despatches to notify key dealers about the request. Any other changes can only be made, based on the directives of the authorities. The companies have also been tasked with assuring that adequate petrol reserves and supply in terms of both volumes and types of fuel are maintained. The ministries had set the new caps for retail petrol prices on February 5. They fixed the maximum prices at VND15,686 (US$0.75) per litre for RON 92 gasoline and VND15,183 ($0.72) per litre for 0.05S diesel. They had also stipulated limits of VND15,623 ($0.74) per litre for kerosene, VND11,861 ($0.56) per kilogramme for 180CST 3.5S mazut, and VND15,356 ($0.73) per … [Read more...]

EVN seeks shocking price hike

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By Hieu Minh The Ministry of Trade and Industry has given the go ahead for yet more increases in electricity prices following a plea from the state-owned Electricity of Vietnam. According to Deputy Minister of Industry and Trade Do Thang Hai, the ministry will officially allow the group to raise prices after a document rubber-stamping the decision is released. Based on the report, the government will make a final decision on how and when the power price will be increased. Electricity of Vietnam (EVN) deputy general director Dinh Quang Tri was previously quoted as saying to local media that by the end of last year EVN had incurred more than $13 trillion ($607 million) in cumulative losses from past years, and that raising prices for customers was one of the efficient ways for the power producer to attempt to recoup some of its losses. "The 9.5 per cent price hike is just an EVN proposal. The actual level increase will be decided by the Ministry of Industry and Trade (MoIT) based … [Read more...]

Vietnam actively integrates into the global economy

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(VOVworld) – Vietnam is scheduled to complete several free trade negotiations in 2015, including the Trans-Pacific Partnership, the Vietnam-EU free trade agreement, and the ASEAN Economic Community (AEC). These agreements will generate more momentum for Vietnam’s development and challenges as well. Basically, trade agreements have positive impacts on production and trade. But along with opportunities, there are technical barriers, trademarks, copyrights, and social security and environmental regulations set by importing countries. Challenges and opportunities Signing of the Vietnam-EU Free Trade Agreement (EVFTA) is scheduled for the first half of this year. The agreement will cover a wide range of trade liberalization. Vietnamese exporters will benefit from the EU’s commitment to remove tariffs on 90 commodities. The most-benefited sectors will be garments and textiles, footwear, and food processing. According to the European Chamber of Commerce (EuroCham) when … [Read more...]

Inspection of Tet food hygiene and safety increased

(Photo: Quang Quyet/VNA)

(VOVworld) – Deputy Minister of Industry and Trade Do Thang Hai says provinces and businesses have prepared a quantity of goods worth nearly 94 million USD for the approaching Tet holiday. Hai said the figure is 10% more than last year, adding that the Ministry is asking its market control agency to strengthen inspection and monitoring of food hygiene and safety to ensure public health. He said price controls have also been tightened to minimize price gouging for essential commodities during Tet, adding: "We’ve asked the Departments of Industry and Trade to work with domestic companies to hold trade fairs to bring made-in-Vietnam goods to rural areas and processing zones so that consumers can buy high quality products at reasonable prices. Goods are now available in processing and industrial zones so workers can prepare for Tet and strict checks and controls on prices of all kinds of goods have been ordered." A movement has been launched to fight smuggling, trade fraud, … [Read more...]

Electricity price to remain unchanged until Tet

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Electricity workers repair power lines (Photo: VNA) The electricity price will remain unchanged from now to Tet (Lunar New Year which falls on February 19 this year), said Deputy Minister of Industry and Trade Do Thang Hai. The deputy minister told the media at a press briefing on February 2 that if Electricity of Vietnam proposes a price hike after Tet, the ministry will consider the situation before making any decision. Regarding the petrol price, Deputy Minister Hai said the price is managed under the market economy control in line with Decree 83, which means when the world price drops, the domestic price will be adjusted accordingly. However, the level of adjustment should take into consideration domestic situation, including purchasing power, people’s income and businesses’ competitiveness, the official said. He also affirmed that goods supply is abundant from now to Tet, and market inspection is being intensified to prevent price manipulation, smuggling and … [Read more...]