The Hanoitimes - Being the deal’s co-founder, Vietnam has the rights to accept or refuse a third country joining the CPTPP, while future participants could not propose too many new clauses to the deal as they must accept existing conditions. The Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) would give Vietnam an upper hand in negotiating trade deal with future partners, according to economist Pham Chi Lan. Illustrative photo. Specifically, Vietnam has the rights to accept or refuse a third country joining the CPTPP, while future participants could not propose too many new clauses to the deal as they must accept existing conditions, Lan said in an interview with the governmental portal. Moreover, the CPTPP would offer Vietnam advantages in negotiating the free trade agreement with the European Union (EU), Lan added. Vietnam is the second country in Southeast Asia approached by EU for an EU – Vietnam FTA (EVFTA) … [Read more...] about CPTPP gives Vietnam upper hand in negotiating trade deal: Economist
The upper hand
Convenience store chains have been spreading like wildfire, with all major developers putting the pedal to the metal to gain market share Photo: Le Toan Vietnam has been one of the world’s most attractive markets for retail investment, ranking sixth in the Global Retail Development Index (GRDI) of A.T. Kearney, an American global management consulting firm. This has attracted M&A deals from both foreign and domestic businesses. Looking back on 2018, there have been great retail deals and great upheavals in the market shares of players. The local retail market has seen fierce competition, and domestic companies have had to adopt new strategies to regain their market share and improve their reputation to compete with international competitors who have the advantage in capital, technology, experience, and personnel. VinCommerce, the owner of the largest Vietnamese retail outlet chain VinMart, has bought out rival supermarket chain Fivimart. The movement is part of its plan to … [Read more...] about Retailers take to M&A to get the upper hand
Vietnam will take on Malaysia in the 2018 AFF Cup final return fixture at My Dinh National Stadium in Hanoi on December 15. The “Golden Stars” are now only one match from realising their decade-long dream of winning the regional showpiece. The “gate of heaven” is waiting to be opened by Park Hang-seo and his players. Vietnam and their key in hands After the 2-2 draw in the first leg, Vietnam now have the upper hand ahead of the return fixture this weekend. In addition to scoring two away goals, Park’s side will have the advantage of playing at My Dinh Stadium, where they will be powered by the support of tens of thousands of home fans. The Vietnamese squad have recently demonstrated exceptional form on their home turf. It was at My Dinh Stadium that Park’s troops finished off Malaysia by two straight goals in the group stage. The meeting this Saturday promises to be much tougher, but the psychological advantage is now in favour of the … [Read more...] about Vietnam vs Malaysia: Opening the “gate of heaven”
VietNamNet Bridge - As a fast developing retail market in Asia, Vietnam has attracted many foreign retail giants in recent years. However, Vietnamese retailers still control 75 percent of market share. Vietnam has attracted many foreign retail giants Big C has 35 supermarkets in many cities and provinces, MM Mega Market has 19 retail centers, and Lotte March 13 supermarkets and hypermarkets, while Aeon, which has just arrived, also has four supermarkets. Foreign retail brands have also developed convenience stores. In HCMC alone, there are 1,000 convenience stores with Family Mart, B’s Mart, Circle K, Ministop and Shop & Go brands, which are gradually replacing traditional groceries. The business expansion plans by the foreign brands has caused worries to domestic retailers. Family Mart, for example, stated it will open 1,000 shops by 2020, while 7-Eleven wants to open 1,000 by 2027. A survey by Savills in HCMC in 2017 showed that 17 percent of consumers preferred going to … [Read more...] about Do Vietnamese retailers have the upper hand over foreigners?
The time it takes to order Vietnamese street food is faster than heading into Burger King, negating their entire premise A staple in many countries across the world thanks to the appeal of being quick and effortless to take away, foreign fast food brands are failing to grab a foothold in the Vietnamese market. At the launch of its first restaurant in Vietnam in 2014, McDonald’s expected to reach 100 stores within a decade. However, after four years it only has 16 stores across the country. In a similar vein, Burger King has opened only 11 stores over seven years of operations, despite an initial target of 60 stores across Vietnam by 2017. According to market researcher Kantar WorldPanel, western fast food does not suit the palates of the majority of Asian people. However this does not seem to apply to China and Japan. Fast food joints are booming there as they do elsewhere globally - Burger King boasts 700 stores in China as of 2016 and 98 outlets in Japan currently; … [Read more...] about Not lovin’ it: the fast food failure