Most supermarkets and entertainment parks in Ho Chi Minh City saw thronging crowds of shoppers and visitors during the New Year holidays. Supermarket chain Maximark received 20,000 customers January 1, double the normal number. Another chain, Co-opMart, reported sales December 31 and January 1 were up more than 20% from last year and over 50% from normal days. … [Read more...] about Shopping malls, parks crowded on New Year holidays
Maximark mall ho chi minh
Vietnam’s Vingroup buys Maximark chain in bid to gain retail foothold
Vietnamese conglomerate Vingroup has added a popular supermarket chain to its latest buying spree, bolstering its plan to increase presence in the retail sector. Vingroup, which has its own retail brand VinMart, has acquired a 100 percent stake to become the new owner of Maximark, the Hanoi-based firm announced on Sunday without revealing the deal price. The acquisition includes nine Maximark outlets and other properties which previously belonged to Ho Chi Minh City-based An Phong Investment JSC, according to Vingroup. Maximark is a popular retailer in southern and south-central Vietnam, with four supermarkets in Ho Chi Minh City, two in Khanh Hoa and one each in Dong Nai, Ninh Thuan, and Phu Yen. Khanh Hoa, Ninh Thuan and Phu Yen are all south-central provinces, while Dong Nai is a neighbor of Ho Chi Minh City. All of these nine outlets will become members of either the VinMart or Vincom Retail chains operated by Vingroup after the acquisition is completed. The Maximark … [Read more...] about Vietnam’s Vingroup buys Maximark chain in bid to gain retail foothold
Thieves break in banks, jewelry shops at major Ho Chi Minh City mall
Saigon Jewelry Company at Maximark supermarket in Ho Chi Minh City where thieves infiltrated into early on October 15, 2014. Photo credit: Tuoi Tre … [Read more...] about Thieves break in banks, jewelry shops at major Ho Chi Minh City mall
Thieves bust banks, jewelry shops at major Ho Chi Minh City mall
Saigon Jewelry Company at Maximark supermarket in Ho Chi Minh City where thieves infiltrated into early on October 15, 2014. Photo credit: Tuoi Tre … [Read more...] about Thieves bust banks, jewelry shops at major Ho Chi Minh City mall
BUSINESS IN BRIEF 21/12
Power project receives credit for implementation A credit contract, worth 3.3 trillion VND (160 million USD), for a 500 kilovolt power transmission project was signed on December 19 in Hanoi. The contract was signed between the State-owned Vietnam Electricity's Power Transmission Corp and the Bank for Industry and Trade of Vietnam ( Vietinbank) - Hanoi branch. The credit will fuel the 500 kV Pleiku-My Phuoc-Cau Bong project, which is part of the Government's national grid development master plan. Covering the provinces of Gia Lai, Dak Lak, Dak Nong, Binh Phuoc and Ho Chi Minh City , the project aims to ensure electricity supply to southern areas in the 2014-2015 period, as well as power grid connectivity across Vietnam , Laos and Cambodia in 2015. The 9.28 trillion VND project is also funded by the World Bank, the Vietnam Development Bank and the Asia Development Bank. Ministry eyes new fuel tax scales The Ministry of Finance is considering a more exact way of changing its … [Read more...] about BUSINESS IN BRIEF 21/12