Reporting and analysis on retail, e-commerce, and consumer trends in Vietnam, updated continuously by our newsroom.
Lawmakers have decided to continue the 30-percent cut in environment tax on jet fuel through next year to support the aviation industry. It will remain at VND2,100 (9.1 U.S. cents) per liter until the end of next year before returning to VND3,000 in 2022, the…
South Korea’s largest supermarket chain operator Emart Inc. is pulling out of Vietnam, the second major Asian market after China, in the face of regulatory hurdles. The retailer opened its first outlet in Vietnam’s Go Vap district in 2015 and had procured a…
Vietnamese startups earned pledges of $815 million over the next five years from 33 foreign and domestic venture funds. The pledges, announced at the recent Vietnam Venture Summit, came from several foreign funds who’ve been active in Vietnam in recent years,…
Over 100,000 Vietnamese sellers have successfully debuted on Amazon, with fashion and household goods being some of their best-selling products. Gijae Seong, head of Amazon Global Selling Vietnam, said amid the Covid-19 pandemic, sellers have been focusing on…
Called ‘Acecook Noodles Cup Buffet’, the store allows customers to create and mix instant noodles to their own preference. Customers can also customize their noodles cup design with stickers and pencil crayon provided. Besides providing the buffet service,…
National utility Vietnam Electricity (EVN) has signed three memoranda to purchase power from Laotian companies amid expected energy shortages. EVN will buy power from two hydropower plants and one coal-fired power plant in neighboring country Laos starting…
Vietcombank’s profits are set to decline for the first time since 2013 due to slower credit growth amid the Covid-19 pandemic, a brokerage forecast. The country’s most profitable lender’s pre-tax profit could fall by 1.6 percent to VND22.75 trillion ($984…
Vietnam has imposed a 10-percent value-added tax for each trip by a ride-hailing company vehicle as it seeks to create a level playing field for traditional taxi firms. According to a new decree, with effect from December 5, the tax will have to be paid on…
Vietnam’s three major telecom companies are racing to test 5G services to achieve the government’s goal of making the country one of the earliest to adopt the technology. State-owned Vinaphone last week became the first to conduct 5G commercial tests in both…
With the Covid-19 pandemic acting as a drag on credit growth, banks are continuing to cut deposit interest rates. State-owned lenders BIDV, Agribank and VietinBank this week reduced their 12-month rates by 0.2 percentage points to 5.6 percent. The other “Big…
Thai companies are allegedly dumping sugar in Vietnam and hurting farmers, according to Vietnamese producers. Nguyen Van Loc, general secretary of the Vietnam Sugarcane and Sugar Association, said citing figures from Thailand’s Office of Cane and Sugar Board…
VNPay has become the second unicorn startup in Vietnam and one of 12 companies in Southeast Asia with a valuation of $1 billion. The payment company was listed as a unicorn in the recent “e-Conomy SEA 2020” report by Google and its partners, alongside well…
Thai energy firm Gunkul Engineering Plc has acquired the 50-megawatt Phong Dien II solar power plant in the central Thua Thien Hue Province for $39.9 million. The plant is set to begin commercial power generation on December 15 with a feed-in tariff of 7.09…
Vietnamese startups need to expand their partnership network with domestic and regional firms for functioning deeper in big firms’ ecosystems, industry insiders say. Nguyen Anh Duc, CEO of retail chain Saigon Co.op, said among its 2,500 partners and suppliers…
The government wants its agencies and businesses to reduce logistics cost to enhance the competitiveness of the country’s goods, Deputy Prime Minister Trinh Dinh Dung has said. Speaking on Thursday at the Vietnam Logistics Forum, he said the cost for…
Facebook has removed 290 fake accounts in Vietnam so far this year, making the country top in number of account cancellations. Of those fake accounts, some had forged that of the Health Ministry to post fake news about the Covid-19 pandemic. The removals were…
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