Reporting and analysis on retail, e-commerce, and consumer trends in Vietnam, updated continuously by our newsroom.
Vietnam’s largest private lender, Techcombank, reported a 23 percent rise in pre-tax profit last year to VND15.8 trillion ($683.62 million). It remained the third most profitable bank in the country behind state-owned Vietcombank and VietinBank. Its revenues…
Vietnam’s tuna exports declined by 9.8 percent in 2020 due to the impact of the Covid-19 pandemic, and are showing no signs of recovery. Analysts point to two reasons for the continuing slump: the unpredictability surrounding the pandemic and intense…
Vietnam outperformed its regional peers, including China, to become the top-performing economy in Asia in 2020. Though some economies have not yet reported fourth-quarter numbers, estimates compiled by the U.S. broadcaster from official sources and…
Vietnam’s e-commerce market expanded by 18 percent last year to $11.8 billion, the only country in Southeast Asia to record double-digit growth amid the Covid-19 pandemic. Besides, payment services were strengthened and the largest companies in the…
Intel Corporation has invested $475 million in its Ho Chi Minh City facility to develop more complex technologies and tap new market opportunities. The latest investment takes its total in Vietnam to $1.5 billion, the U.S. chipmaker said in a statement. “As…
Rents for coworking office space in HCMC decreased 12 percent year-on-year last year due to the impacts of the Covid-19 pandemic, a report says. The occupancy rates of coworking office space in Grade A and B buildings last year plunged by 7 percentage points…
U.S. tech giant Apple Inc. is increasing its production of smart devices in Vietnam as it diversifies its supply chain outside of China. It will begin to produce the iPad tablet in Vietnam as early as the middle of this year, a Nikkei report says, citing…
Seafood processing company Vinh Hoan Corporation has bought a 51.29 percent stake in the Sa Giang Import-Export Corporation. It bought 3.56 million shares from the State Capital Investment Corporation (SCIC) at VND97,500 per share in a deal worth almost…
The Vitamin Shoppe, an omnichannel specialty retailer of nutritional products, today announced a partnership agreement with Kim Lien Group for the Vietnam market. Under the country license agreement, Hanoi-based Kim Lien Group will open and operate The…
Indian foreign direct investment in Vietnam is relatively modest because of the lack of trade promotion activities, says a deputy minister of planning and investment. “Bilateral trade and investment relationship has seen many positive results in recent times…
Vietnamese automaker VinFast introduced Friday three new electric self-driving car models that will hit the market this year. The rollout of the new models is part of its plan to become a global major in electric car manufacturing. Two of the three models,…
A $2-billion power generation unit of state-owned utility Vietnam Electricity (EVN) will have an initial public offering on the country’s main bourse next month. The Power Generation Corporation 2 (EVNGENCO 2), based in the southern city of Can Tho, will…
HCMC’s average hotel occupancy rates dropped 54 percentage points year-on-year to 20 percent last year as Covid-19 travel restrictions hit foreign arrivals, a report says. Over 3,600 hotel rooms were closed last year as the number of foreign tourist arrivals…
Vietnamese e-wallet provider Gpay has received an undisclosed amount in Series A funding from South Korean listed bank KB Financial Group. The Series A round values the digital payment business at VND425 billion ($18.46 million), and the fresh funds will be…
Vietnam stands to benefit from its emergence as a global bright spot in electronics production with some index scores exceeding China and India. Experts attribute this to lower labor costs and better policy incentives. Jason Yek, Asia country risk senior…
Vinasun, Vietnam’s second-largest taxi firm, reported its first-ever accumulated loss of VND211 billion ($9.15 million) last year. The figure far exceeded the firm’s earlier loss forecast for 2020 at VND115 billion. Vinasun leaders have blamed the loss on the…
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