The Fourth Industrial Revolution, also known as the Industry 4.0, has the potential to bolster Vietnam’s economic output by a further 28.5-62.1 billion USD, equivalent to the GDP growth of 7-16 percent by 2030, according to a report by the Central Institute for Economic Management (CIEM).
Domestic retailers must work to outline rational business strategies to gain a competitive edge over their foreign rivals, especially as the local retail market has become more attractive than ever to foreign investors.
Some 87,448 new enterprises were established in the first eight months of the year, registering a total registered capital of 878.6 trillion VND (37.7 billion USD), a year-on-year increase of 2.4 percent in number of firms and 6.9 percent in capital, according to the General Statistics Office (GSO).
Vietnam’s gross domestic product (GDP) expanded 7.08 percent in the first half of the year, marking the highest rate since 2010, fueled by robust expansion of the industrial and construction sector and service sector, according to the General Statistics Office (GSO).
Vietnamese shares declined on May 24 as investors were prudent with their transactions.
Wholesale petrol traders should make more efforts to raise the market share of bio-fuel E5 in the country, said Deputy Minister of Industry and Trade (MoIT) Do Thang Hai.
The Ministry of Industry and Trade (MoIT) will enhance trade promotion programmes and give more support to businesses to increase their competitiveness in the local market in 2018.
The total retail sale value of goods and services from January to September posted the highest year-on-year increase in 2017, according to the General Statistics Office (GSO).
Promoting regional linkage from production to distribution is essential to turn the country’s southern part into a trade hub.
Both foreign and domestic banks are racing to develop retail sale strategies in Vietnam, the 93-million-people country-a fertile land for banking retail business.
The 10th session of the 14th National Assembly Standing Committee commenced in Hanoi on May 15.
Vietnam’s manufacturing sector has proven a magnet for foreign direct investment in the first quarter, absorbing 6.54 billion USD, which accounted for 84.9 percent of total registered capital in the period.
The country’s import of vegetables and fruits saw strong growth in the first two months of 2017, especially from Thailand and China.
The total revenue from retail trade and services saw a year-on-year rise of 10 percent, to 15 billion USD in January, according to the General Statistics Office (GSO).
The northern province of Ha Nam has set a target of 56.5 trillion VND (2.48 billion USD) in 2017 industrial production, a rise of 15.4 percent over 2016.
The Vietnam Standards and Consumers Association (Vinastas) survey which released misleading test results of fish sauce and caused public fear was not independent, reliable or transparent.
Vietnam’s total retail sale and service revenues saw a year-on-year increase of 9.3 percent to some 2,896.6 trillion VND (126 billion USD) in the first ten months of 2016.
Most local enterprises are optimistic about production and business in the second half of this year, according to the General Statistics Office (GSO).
