Customers buy goods at a Saigon Co-op supermarket - Photo: VGP The entire retail system of Saigon Co-op will provide massive discounts on more than 30,000 Vietnamese products for three consecutive weeks, from August 22 to September 11. On the weekends, some items will be sold at VND0 when customers buy the second product of its kind. The supermarket will also present nearly one million raincoats to customers and give up to 300 bonus points to each customer having Saigon Co-op membership card and others. Marketing Manager of Saigon Co-op, Do Quoc Huy, said that the supermarket will focus most of its budget on offering direct discounts on more than 30,000 Vietnamese products to show thanks to consumers for choosing Vietnamese goods and Vietnamese supermarkets like Saigon Co-op in recent years. Saigon Co-op has spent more than 20 years on persistently localising its goods structure combined with many promotional activities to increase the rate of made-in-Vietnam goods in its retail … [Read more...] about Big discounts offered on over 30,000 made-in-Vietnam products
Trade
Lang Son’s custard apple promoted in Hanoi
A fair, aiming to promote Chi Lang district’s custard apple and specialties of Lang Son, as well as safe agricultural products, opened in Hanoi on August 16. At the event - Photo:bnews.vn The custard apple helps Chi Lang district’s people earn thousands of trillions of VND every year. The National Office of Intellectual Property of Vietnam under the Ministry of Science and Technology granted a certificate to “Chi Lang custard-apple” brand in 2011. Therefore, the fair is considered as an effective bridge to bring Chi Lang district’s custard apple to consumers. According to Dao Van Ho, director of the Trade Promotion Centre for Agriculture, the event is also an opportunity for cooperatives and production facilities to promote products and access local markets; direct wholesale and export enterprises; contact and exchange experiences to improve production, improve quality, design and productivity for custard apple plants in Chi Lang. With a scale … [Read more...] about Lang Son’s custard apple promoted in Hanoi
Can Vietnam utilize growing trade opportunities?
Limited effectiveness of integration The report indicates that the growth of foreign trade in 2018 has turned Vietnam into one of the leading countries in the region and worldwide in terms of economic openness, with total export value exceeding US$480 billion, almost double Vietnam’s gross domestic product (GDP). This satisfactory result reflects the success of international integration. However, Dr. Luong Minh Huan from the Vietnam Chamber of Commerce and Industry (VCCI)’s Institute for Business Development said export activities still lack sustainability. Specifically, exports by domestic companies keep decreasing. In 2007, Vietnam joined the World Trade Organization (WTO), but the domestic sector’s contribution to Vietnam’s total export value has dropped from 51.5 percent in 2007 to 28.5 percent in 2018. Meanwhile, exports by companies with foreign direct investment (FDI) keep increasing, from 48.5 percent to 71.5 percent. In 2018, the domestic sector faced a … [Read more...] about Can Vietnam utilize growing trade opportunities?
Việt Nam, Uruguay ink trade, investment agreement
Officials at the signing ceremony. — VNA/VNS Photo Trần Quốc Việt HÀ NỘI — The trade and investment promotion agencies of Việt Nam and Uruguay inked a memorandum of understanding on Wednesday on co-operation between the two sides. The agreement will serve as a cornerstone to further collaborate on promoting trade and bring businesses of Việt Nam and Uruguay closer in order to raise bilateral trade revenue, Vũ Bá Phú, director of the Việt Nam Trade Promotion Agency (Vietrade) under the Ministry of Industry, said at the signing ceremony. He expressed his hope that Vietrade and Uruguay’s Investment, Export and Country Brand Promotion Agency would increase the exchange of business delegations to deepen relations between Vietnamese and Uruguayan firms. Two-way trade between the nations stood at US$140 million in 2018, a year-on-year rise of 19 per cent. Việt Nam … [Read more...] about Việt Nam, Uruguay ink trade, investment agreement
Leather, footwear sector takes first hopeful steps under EVFTA
Phan Thi Thanh Xuan, Secretary General of the Vietnam Leather, Footwear and Handbag Association How will the EVFTA benefit leather and footwear businesses? In recent times, Vietnam’s leather and footwear exports to the EU have grown at only 5-6 percent annually, accounting for 28-30 percent of total export turnover to this market. One of the reasons is due to the economic slowdown in the EU, along with the Brexit issue, which has harmed Vietnam’s footwear orders. The agreement is expected to boost Vietnam’s leather and footwear exports. Under the deal, Vietnam will learn from footwear production technologies of developed countries, such as Germany and Italy, and import materials and accessories for the sector’s middle and high-end segments. How have domestic firms prepared to satisfy the EVFTA’s rules of origin? The rules of origin are no big deal for Vietnamese businesses as the domestic leather and footwear sector has benefited from the EU’s … [Read more...] about Leather, footwear sector takes first hopeful steps under EVFTA