Interest in Singles’ Day sales skyrockets in VN An analysis conducted by online shopping aggregator iPrice found that Việt Nam’s interest in November 11 Singles’ Day sales skyrocketed this year. According to internet traffic data, the company discovered a huge jump of 210 per cent in the number of customers participating in the Singles Day sales in Việt Nam compared to the same time last year. By analysing Vietnamese search trends on Google, iPrice found that keyword searches for “November 11” began growing steadily nearly two weeks prior to the date, three times higher in search interest compared to the same period last year. In addition, Vietnamese consumers were now much more familiar with the November 11 tradition which originated from China, and excitedly look forward to it as an important annual promotion period. For the event, big merchants offered different promotions with discounts being the most popular, together with vouchers, flash … [Read more...] about BUSINESS NEWS IN BRIEF 13/11
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BUSINESS NEWS IN BRIEF 9/11
HCM City works to solve difficulties facing property enterprisesThe People’s Committee of Ho Chi Minh City held a conference on November 7 to help local real estate enterprises solve difficulties.Le Hoang Chau, President of the Ho Chi Minh City Real Estate Association, said the local property market faces several bottlenecks affecting enterprises’ business and investment activities, including approval of investment intentions, ground clearance, land use feess, project acquisition, using land funds to pay for Build-Transfer (BT) contracts, and credit and financial procedure issues.The slow settlement of these bottlenecks is one reason for the significant decrease in the supply of real estate products in 2018, which is forecast to continue reducing in 2019, Chau affirmed.At the event, local enterprises shared difficulties facing them during project implementation.Chairman of the municipal People’s Committee Nguyen Thanh Phong admitted that there remain several … [Read more...] about BUSINESS NEWS IN BRIEF 9/11
BUSINESS NEWS IN BRIEF 24/10
Festival to help Ninh Binh promote tourism potential The picturesque Trang An Complex in Ninh Binh province (Photo: vietnamtourism.gov.vn) The northern province of Ninh Binh will have opportunities to promote its tourism potential as a cultural, sport and tourism festival will be held in the locality later this month. Held by the Ministry of Culture, Sports and Tourism, the event is part of the programmes organised to mark 1,050th anniversary of Dai Co Viet, the first feudal state of Vietnam. A wide range of cultural activities are scheduled such as photo exhibitions, amateur cheo (traditional opera) performances, and various culture and sport activities. Local Trang An Landscape Complex, recognised by the UNESCO as a World Heritage site in 2014, together with other renowned heritages like Ha Long Bay, Phong Nha Ke Bang National Park, and gong cultural space in the Central Highlands, among others, will be nudged closer to the visitors at the festival through the “Going through … [Read more...] about BUSINESS NEWS IN BRIEF 24/10
BUSINESS NEWS IN BRIEF 22/8
Mekong Capital divests from Asia ChemicalsMekong Enterprise Fund II, a unit of Mekong Capital, has completely divested from Asia Chemicals Corporation (ACC) and taken in US$8.9 million, a 2.6-fold increase over its initial investment, after a seven-year holding period.According to a press release issued by Mekong Capital on August 10, in 2011, MEF II invested US$3.8 million in ACC, which was its 10th investment, after others in Mobile World Investment Group (The Gioi Di Dong), Golden Gate, Vietnam Australia International School and International Consumer Products.However, MEF II has now divested from all of its 10 earlier investments. The divestments have helped the fund generate a gross return multiple of 4.5 and a gross internal rate of return of 22.5%.Early this year, MEF II sold five million shares at Mobile World, generating a gross return multiple of 56.9 and an IRR of 61.1%, making it one of the most successful investments in Asia.Also, the fund’s full exit from Vietnam … [Read more...] about BUSINESS NEWS IN BRIEF 22/8
BUSINESS NEWS IN BRIEF 16/8
Vietnam firms join Tamil Nadu food expo in India Seven Vietnamese enterprises are showcasing their products at Vibrant Tamil Nadu - Global Expo & Summit 2018 in the Indian state of Tamil Nadu, which runs from August 12-15. The food and beverage expo also features nearly 200 Indian firms and representatives from 29 other nations. Several workshops on food, processed food and beverages and measures to boost the sector’s development have been held at the event, along with meetings between participating firms and state authorities. The Vietnamese enterprises discussed the possibility of signing some memoranda of understanding on cooperation in food production and processing and on investment in industrial zones with Indian partners. Bui Trung Thuong, Chief of the Vietnam Trade Office in India, briefed Indian partners on Vietnam-India economic and trade ties, the prospects of the Vietnamese food sector and opportunities for the two countries’ businesses. India ranks 27th … [Read more...] about BUSINESS NEWS IN BRIEF 16/8