Businesses across Ho Chi Minh City have increased prices of essentials due to higher production costs despite consumer purchasing power having decreased by up to 25 percent, a survey of Tuoi Tre (Youth) newspaper has shown. Enterprises in Vietnam have issued warnings that food prices will continue to rise unless solutions are found to restrain surging food input costs, including raw materials, gasoline, and animal feed. As a case in point, cooking oil is now being sold 15-20 percent more expensive at supermarkets in Ho Chi Minh City than at the beginning of the year, and 70-90 percent higher than the price of 2020. Notably, Tuong An cooking oil now sells for VND60,000-160,000 (US$2.6-$6.9) per liter, depending on the type, while a set of 10 chicken or duck eggs is offered at VND33,000-VND38,000 ($1.4-$1.64) at traditional markets. The rates are about 20 percent higher than earlier this year, and nearly double those of last year, mostly owing to higher production costs and … [Read more...] about Purchasing power drops, food prices rise in Ho Chi Minh City
10 3 sustainable cities
Green Economy Forum & Exhibition 2022 gathers sustainable initiatives for Vietnam
The European Chamber of Commerce in Vietnam (EuroCham Vietnam) held a press conference on the Green Economy Forum & Exhibition 2022 on May 24 The “Green Economy Forum & Exhibition (GEFE) 2022” will take place from November 28 to 30 in Ho Chi Minh City. Delegates attend the press conference. Photo: EuroCham Vietnam At the press conference, EuroCham Vietnam members said that the goal of the event is to support Vietnam in fulfilling its COP26 commitments and the socio-economic development goals specified in its National Green Growth Strategy for 2021-2030. EuroCham encourages both foreign-invested enterprises in Vietnam and Vietnamese businesses to commit to a green growth roadmap. Tim Evans, CEO of HSBC, a member of the EuroCham Vietnam valued the Government of Vietnam’s determination in implementing the Strategy for the 2021-2030 period. Vietnam has gained some "green economy" achievements in comparison with some regional countries, he said. Some … [Read more...] about Green Economy Forum & Exhibition 2022 gathers sustainable initiatives for Vietnam
MM Mega Market Vietnam expands its footprint in the North with opening Sapa Depot
This is recognised as a significant step forward in the sustainable development and expansion of MM Vietnam in distribution network system for the 5-year period from 2020 to 2025 to better serve its professional customers especially HoReCa channel. The delegates cut the ribbon in the opening ceremony of new MM’s Depot in Sapa Located on the main crossroad about two kilometers from the town center, Sapa Depot spreads over a land area of 480 square meters, in which the total area of the warehouse is 394 square meters. Its target customers comprise business or professional customers who have been providing their products and services in the hospitality industry in Sapa. As an important part of MM Mega Market Vietnam’s supply chain and sourcing management, Sapa Depot aims to provide a wide range of leading-edge products to better support its customers’ evolving demands in a timely manner, while enabling it to offer further solutions within 38 kilometers from Lao Cai City … [Read more...] about MM Mega Market Vietnam expands its footprint in the North with opening Sapa Depot