Vietnamplus

Vietnamese retail companies are in pole position to seize the lion’s share of the market, especially after some foreign businesses have left the country.

The Government and competent agencies of Vietnam pledge to create favourable conditions and business environment for Japanese enterprises to do business in Vietnam, Prime Minister Nguyen Xuan Phuc has said.

Concerns are growing over whether supermarket chain Big C’s temporary suspension of Vietnamese apparel purchases could spread to other products and retailers.

The Saigon Union of Trading Co-operatives (Saigon Co.op) will take over 18 stores and entire e-commerce retail system of France’s Auchan Retail in Vietnam under a merger and acquisition deal reached between two sides on late June 27.

Vietnamese firms can expand exports and reap “sweet fruits” in picky markets by investing in clean production technology, a leading businessman has said.

A week of Vietnam-Hanoi goods kicked off at the AEON Lake Town Mori in Japan’s Saitama prefecture on June 8 as part of a cooperation pact signed between the Vietnamese Ministry of Industry and Trade (MoIT), Hanoi authorities, and Japanese retail group AEON.

More than 600 nationwide supermarkets and convenience stores of the Saigon Union of Trading Cooperatives (Saigon Co.op) have taken the leap to remove all plastic straws from their shelves this month.

The Ministry of Industry and Trade said only in big retailers such as Big C and Saigon Co.op, the proportion of Vietnamese goods accounts for over 90%, while in other businesses, it accounts for 70%.

Vietnamese enterprises need to take advantage of tariff reductions under the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP) to increase exports to Australia.

Vietnam’s retail market has developed strongly in recent years, with a large amount of foreign investment poured into the market.

Foreign retailers have made stronger presence in the Vietnamese market over the years, posing great pressure on their domestic competitors.

Future trends of the Vietnamese retail market, including the use of digital and AI, were discussed by more than 400 retail experts at a seminar organised in HCM City on February 28 by Vincom Retail Joint Stock Company.

The Vietnam Trade Promotion Agency (VIETTRADE) announced its plans for collaboration with the Amazon Global Selling programme at a ceremony held on January 14.

Vietnam lacks an overall strategy to promote the sustainable development of domestic trade in the context of deep international integration, heard a conference held in Hanoi on December 18.

Prime Minister Nguyen Xuan Phuc attended the opening ceremony on November 13 for the Vietnamese Goods Week in Singapore, as part of his trip to the country to attend the 33rd ASEAN Summit and related meetings.

Australia will cut 90 percent of import tariff lines in 2018 and 100 percent of them in 2020 under the ASEAN-Australia-New Zealand Free Trade Agreement roadmap, said the Ministry of Industry and Trade.

Vietnam’s pharmaceutical market is estimated to record revenue of 5.2 billion USD in 2017, a 10 percent increase from last year, and the market is set for double digit growth within the next 5 years.

The Vietnam Retail Forum, themed “10 years of retail market and challenges in the future”, was held in Hanoi on December 12.

Rang Dong Plastics Joint Stock Company (RDP) and Sojitz Pla-Net, a Japanese corporation, signed a strategic partnership on December 6, taking a new step towards cooperation between the two sides.

A delegation from the Vietnam Fatherland Front (VFF), led by President of its Central Committee Tran Thanh Man, is making a working visit to New Zealand from December 3 – 5.