Vietnamplus

Supermarkets and shopping malls in Ho Chi Minh City reported a sharp increase in sales during the National Day holiday from September 1 to 4.

The Vietnam Oil and Gas Group (Petrovietnam)’s contributions to the State budget has reached this year’s target five months ahead of scheduled.

Lower tariffs, an easy trading environment, convenient logistic services, and a wide range of materials for manufacturing furniture make Vietnam a promising hub of furniture manufacturing, according to India-based market research company Mordor Intelligence.

Amid the falling number of orders, the Vietnamese Ministry of Industry and Trade (MoIT) is focusing on measures in support of enterprises to fuel production, improve competitiveness and reduce costs.

Vietnam's exports of agro-forestry-aquatic products are forecast to rebound in the second quarter as import market economies have shown signals of recovery, insiders have said.

Vietnamese firms spent over 903 million USD in the first quarter importing 41,780 completely-built-up (CBU) cars, according to a report by the General Statistics Office (GSO).

Retail stocks have dropped significantly due to the decline in business results in the context of the global economic recession and high interest rates.

Ho Chi Minh City recorded a year-on-year rise of 5.7% in total retail sales of goods and consumer service revenue in January, according to its Department of Industry and Trade.

The Ministry of Public Works and Public Housing (PUPR) of Indonesia has announced that it will allocate a budget of over 15 trillion rupiah (992 million USD) for labour intensive programmes to expand the labour market in 2023.

Strong purchasing power and demand have created a fast and strong locomotive for economic growth, and Vietnam is forecast to record a GDP growth rate of over 8% this year, said Executive Chairman of Dragon Capital Dominic Scriven.

The moon cake market is getting vibrant as there are only a few days left before the Mid-Autumn Festival, which falls on September 10 this year.

Though there will be pressure on inflation in 2022, experts forecast it will remain under control and the National Assembly's target of 4 percent target is still feasible.

Hanoi is carrying out a series of stimulus and promotion programmes so as to recover the purchasing power of the domestic market on the occasion of the upcoming lunar New Year holiday.

Vietnam is still a destination for foreign investment, including Thailand because it is a large and growing market, Tanee Sangrat, Director General of the Department of Information and Spokesman of the Foreign Ministry of Thailand, has said.

Thailand’s rice exports are expected to recover slightly from an estimated 5.8 million tonnes in 2020, which was the lowest in 20 years due to weak global purchasing power caused by the COVID-19 pandemic, a container shortage and the strong baht.

The purchasing power in the domestic market is expected to increase by between 15-20 percent from now until the 2021 Tet (Lunar New Year), with food products seeing the strongest rise, said Tran Duy Dong, Director of the Ministry of Industry and Trade (MoIT)’s Domestic Market Department.

Strong individual purchasing power has been the key to the strong rebound of the Vietnamese stock market this year after it was hit twice by the COVID-19 outbreaks.

Members of the Vietnam Association of Motorcycle Manufacturers (VAMM) sold a total of 677,739 motorcycles in Q3, a year-on-year fall of 18.49 percent.

Mooncake sales in Thailand are expected to shrink by about 16 percent this year, the Kasikorn Research Centre said.

The Thai government will this week consider measures to increase the purchasing power of low-income groups and support small businesses.