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”

watermarked-B%C3%A1nh%20m%E1%BB%B3.jpg

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

a-customer-buys-stabilized-goods-in-hai-duong-intimex-supermarket-804227-watermarked-binh-on-gia-100x100

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

inspectors-check-the-origin-of-eggs-sold-at-intimex-supermarket-in-ha-noi-the-new-food-safety-bill-which-comes-into-effect-next-july-will-require-advanced-594515-20101202131523-food-hn-inspectors-100x100

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...]

Revenue from crude oil falls sharply in Jan

Workers operate a crude pipe system at the Chan May Gas and Oil Plant in Thua Thien-Hue Province. The State budget revenue from crude oil fell two thirds over the past year to $145 million in January. — VNA/VNS Photo Huy Hung

HA NOI (VNS) — The total state budget revenue in January was 95 per cent of the revenue year-on-year due to about 66 per cent fall in crude oil revenue, the finance ministry said. The ministry said the total budget revenue last month stood at VND102.6 trillion (US$4.66 billion), or 10.1 per cent of the expected revenue and 95 per cent of the revenue in January 2015. The revenue from the domestic market gained a year-on-year increase of 5.8 per cent to touch VND93 trillion ($4.23 billion), because the revenue from major economic sectors increased, with the private industrial and trade sector revenue rising 14.2 per cent, the foreign-invested enterprise sector revenue increasing 13.7 per cent; and the individual income tax revenue jumping by 20 per cent. However, the ministry said the budget revenue from crude oil fell by 65.7 per cent year-on-year to reach VND3.2 trillion ($145.5 million) in January. The reduction was due to the slump in the average crude oil price in Viet … [Read more...]

Strengthening measures to stabilise the upcoming Tet market

Illustrative image

The Hanoitimes - The Government held its regular press briefing in Hanoi on January 29 under the chair of Prime Minister Nguyen Tan Dung. At the meeting, members of the Government has set out the action plan to strengthen the implementation of measures to stabilise prices, the market, preparing for the People to welcome the upcoming Lunar New Year (Tet) economically and safely. Chairman of the Government Office Minister Nguyen Van Nen said the statement heard by Prime Minister Nguyen Tan Dung at the meeting highlighted the national socio-economic situation with positive changes. The Prime Minister asked ministries to promote the achievements, and drastically implement targeted solutions. Prime Minister Nguyen Tan Dung requested ministries and localities to focus on solving difficulties, facilitate the development of manufacturing enterprises, business, and maintain the national macro-economic stability. The Prime Minister also required the Ministry of Industry and Trade to … [Read more...]

The government holds the first press conference in 2016

At the Government meeting (Source: VNA)

(VOVworld)- On Friday, the government held its first press conference in 2016. Responding to reporters’ questions on the cabinet’s personnel changes and replacement of Ministry and sectors leaders who were not elected to the 12th Party Central Congress, Minister and Head of the Government Office Nguyen Van Nen said the Party has always closely directed the personnel work at different levels. An official can be resourced for some certain positions to facilitate personnel planning. Minister Nen said at the government’s regular meeting on Friday, Prime Minister Nguyen Tan Dung congratulated re-elected cabinet members some of whom were elected to the Politburo and the Party Secretariat and encouraged them to better fulfill tasks assigned by the Party, State and people. The Prime Minister asked 14 outgoing Cabinet members to fulfill their tasks. In response to a question on Vietnam’s commitments to and implementation of the Trans Pacific Partnership agreement in … [Read more...]

Government to create momentum for development

Chairman of the Government Office Minister Nguyen Van Nen said at the press briefing.

The Hanoitimes - The Government will take measures to create momentum for economic development right in the first months of this year, particularly in the context of dropping oil prices, Chairman of the Government Office Minister Nguyen Van Nen said at a regular press briefing on January 29. He said all sectors should speed up the disbursement of capital for projects, particularly those in infrastructure, while continuing to improve the business and investment climate as well as raising competitive capacity to catch up with the four more developed countries in the ASEAN by the end of this year. Minister Nen also urged ministries, sectors and local authorities to provide timely support for farmers hard hit by the recent severe cold spell. Mentioning preparations for the upcoming Lunar New Year, the minister said the trade-industry sectors have been instructed to stock up on goods and keep a close check on good quality and food safety. The transport sector is required to ensure … [Read more...]

Petrol management sees results: official

Deputy Minister of Industry and Trade Do Thang Hai

The petrol management of the Ministry of Industry and Trade (MoIT) and Ministry of Finance has seen positive results. This has been voted as one of 10 outstanding events of the two ministries. MoIT's Deputy Minister Do Thang Hai talked to the media about the issue. * On September 3th 2014, the Government promulgated the Decree No 83/2014/ND-CP on petrol trading. The decree took effect on November 1, 2014. The domestic petrol market has seen positive changes after one year of implementation of the decree. What are your comments on the issue? The local petrol market has seen positive changes as trading has been basically operated under the market mechanism under the State management. Petrol traders have had more freedom in their trading while following legal regulations. Retail petrol prices have been adjusted flexibly to reflect fluctuations in the world market. The adjustment has facilitated businesses and people's lives. With the adjustment of every fortnight, domestic retail … [Read more...]

National trade promotion asked to support further businesses

Illustrative image

The Hanoitimes - The rate of exports in 2015 increasing by 8.1% compared with 2014 have been attributed by the National Trade Promotion Programme, however, in 2016, the programme need to be more effective, aiming to help businesses seek markets and expanding their relationships with foreign partners. It was requested by Deputy Minister of Industry and Trade Do Thang Hai said at the recent conference in Hanoi to review the programme in 2015. As reported by the Trade Promotion Agency under the Ministry of Industry and Trade (MoIT), in 2015, the National Trade Promotion Programme supported 8,850 enterprises to participate in the domestic and foreign exhibitions with 14, 499 booths. Notably, about 213,300 economic contracts were signed with the total value of 858 million USD and approximately 637.8 billion VND while attracting over 3 million passengers to visit and go shopping. "Through the programme, industry associations and trade promotion centers in localities nationwide have … [Read more...]

Indian embassy celebrates upcoming Lunar New Year

Illustrative image (Source: VNA)

The Indian embassy and the Indian Chamber of Commerce in Vietnam hosted a ceremony celebrating the upcoming Lunar New Year in Hanoi on January 21. Addressing the ceremony, Indian Ambassador Preeti Saran said India continued to be one of significant investors in Vietnam in 2015, particularly in the fields of information technology, pharmaceuticals, engineering and forestry processing. Tourism was also among growing links between the two countries with a series of cultural and art activities, including the India film week in Vietnam, she said. She asserted that India will exert itself to be one of the top 10 investors in Vietnam. Deputy Minister of Industry and Trade Do Thang Hai, for his part, believed that the Vietnam – India economic and trade ties will further prosper in the foreseeable future, especially once both sides together cut a number of tariffs as set in the ASEAN – India Free Trade Agreement and the ASEAN – India Agreement on Investment and Trade … [Read more...]

Vietnam finance minister backs daily fuel price adjustment

1817814-nqe7dbbx

Vietnam’s Minister of Finance Dinh Tien Dung has showed his support for the idea that fuel prices should be adjusted every day in order to render them to be more driven by market forces. The Southeast Asian country currently alters fuel prices every 15 days, and the finance minister wants them to be regulated on a daily basis, he told reporters in Hanoi on Thursday. The daily price adjustment will enable fuel prices in Vietnam to rise and fall more proportionally to global market developments, according to the minister. "So if global price is up, we will increase the domestic rate, and vice versa," he said. "But what’s more important is the price management would be more transparent." The Ministry of Finance and its industry and trade counterpart ‘manage’ fuel prices in Vietnam, meaning they together change them whenever they think it is necessary, considering global quotes. Deputy Minister of Industry and Trade Do Thang Hai has also said in a recent … [Read more...]

Ho Chi Minh City boosts trade links

Links between businesses in Ho Chi Minh City and other cities and provinces in the south have improved significantly as a result of a trade co-operation programme started in late 2011. Speaking at a conference in the city this week on matching demand and supply, Le Van Khoa, vice chairman of the city People's Committee, said the programme has helped HCM City-based distributors and retailers find suppliers of quality products. It has also helped manufactures find steady outlets for their products, making them feel secure about investing more into expansion and improving product quality, he said. More and more businesses have signed up for the programme, with 965 contracts worth more than US$888.88 million signed as of last month, he said. HCM City firms bought goods worth US$600 million and sold for US$288.89 million. Nguyen Hoa Hiep, Director of the Dong Nai Province Department of Industry and Trade, said activities to link up suppliers and buyers help small-scale production … [Read more...]