Rush hour in Hà Nội. Total car sales volume in 11 months of this year gained 14 per cent on-year to more than 289,000 units, according to VAMA. — Photo kinhtedothi.vn HÀ NỘI — Car sales in the final months of the year have not seemed to pick up despite companies’ efforts to lower prices and increase promotions to boost market demand. According to the Vietnam Auto Manufacturers’ Association (VAMA), sales volumes of member companies in November totalled more than 29,800 vehicles, up 3 per cent from October but down 3 per cent year on year. The figure does not include sales records by international brands such as Audi, Jaguar, Land Rover, Mercedes-Benz and Volkswagen as well as some of domestic firms such as VinFast and TC Motor as those companies have not yet published their records. VAMA reported that, by the type of vehicle, sales volumes of consumer vehicles was up 4 per cent on-month to 22,300 units and sales … [Read more...] about Car sales weaken in year-end months despite promotions, lower prices
11 months sticker
Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam’s foreign trade turnover is likely to surpass 500 billion USD in 2019, Deputy Minister of Industry and Trade Do Thang Hai said at a press conference in Hanoi on December 12. The total import-export turnover in January-November was estimated at 472 billion USD, he noted. In the 11-month period, Vietnam exported 241.7 billion USD worth of goods, a year-on-year rise of 7.9 percent. The country spent 230.7 billion USD on imports, up 6.6 percent from the same period last year. Hai said these outcomes were achieved in the context of sluggish global economy due to increasing risks, challenges, and trade protectionism. Despites difficulties in 2019, the Vietnamese Government and ministries have spared no effort to simplify administrative and investment procedures, said Nguyen Cam Trang, deputy head of the Import-Export Department under the Ministry of Industry and Trade (MoIT). To date, Vietnam has joined negotiation and … [Read more...] about Vietnam’s foreign trade to exceed 500 billion USD in 2019
The total import-export turnover in January-November was estimated at $472 billion, he noted. In the 11-month period, Vietnam exported $241.7 billion worth of goods, a year-on-year rise of 7.9 percent. The country spent $230.7 billion on imports, up 6.6 percent from the same period last year. Hai said these outcomes were achieved in the context of sluggish global economy due to increasing risks, challenges, and trade protectionism. Despites difficulties in 2019, the Vietnamese Government and ministries have spared no effort to simplify administrative and investment procedures, said Nguyen Cam Trang, deputy head of the Import-Export Department under the Ministry of Industry and Trade (MoIT). To date, Vietnam has joined negotiation and signing of 16 free trade agreements (FTAs), with 12 already signed and coming into force, she said. The Government and the MoIT have paid special attention to the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership … [Read more...] about Vietnam’s foreign trade to exceed US$500 billion in 2019
The revenue generated from inbound tourism has not been commensurate to the tourism potential. At a symposium of the second Vietnam Travel and Tourism Summit 2019 held in Hanoi on Monday, many experts and business executives in the field listed some reasons why foreign tourists are not opening their wallets in Vietnam. According to Deputy Director of the Vietnam National Administration of Tourism Ngo Hoai Chung, the sector has witnessed a rapid growth in the number of international holidaymakers, however, they spend less in Vietnam compared to other Southeast Asian countries due to the shortage of tourism products and services. Tourism services are not diversified and attractive enough to meet the demand for entertainment, shopping and experience of international visitors. Other issues relating to the environment, human resources, application of information technology and infrastructure at tourist sites were also mentioned as the reasons preventing the tourism industry from generating … [Read more...] about Why foreign tourists hesitate to spend big in Vietnam?
Johnson's Conservative Party is predicted to win 368 seats in parliament. — AFP Photo LONDON — Prime Minister Boris Johnson's ruling party appeared on course for a sweeping victory in Thursday's snap election, an exit poll showed, paving the way for Britain to leave the EU next month after years of political deadlock. The Conservatives were forecast to win a thumping 368 out of 650 seats in parliament -- which if confirmed would be the party's biggest majority in three decades -- according to the survey published as polls closed. The pound jumped by about 2 per cent against the dollar on the projected results of what all sides had painted as the most momentous election in Britain in a generation. Johnson had campaigned relentlessly on the promise to "Get Brexit Done", vowing to end years of political turmoil over Britain's future that has weighed on the economy and sharply divided the nation. With a large majority of MPs, he will be able to get the divorce deal he … [Read more...] about UK’s Johnson looks set for big win in ‘Brexit election’