Reporting and analysis on retail, e-commerce, and consumer trends in Vietnam, updated continuously by our newsroom.
Indian car rental startup Zoomcar eyes Vietnam as a major Southeast Asian market to take advantage of the rising demand for car ownership among its expanding middle class. Vietnam is set to account for 10 percent of Zoomcar’s revenues in the next financial…
Average rice export prices dipped by 10.6 percent in the first quarter, resulting in a 6-percent decline in revenues. Vietnam exported 2.05 million tons of rice for US$1 billion, up 4.4 percent in volume but prices fell to $386.2 a ton due to abundant supply,…
Meat producers from France are seeking to expand their market share in Vietnam to take advantage of the EU-Vietnam Free Trade Agreement. “Meat product exports to Vietnam are expected to grow faster, as, for the next 10 years, tariffs on those products will…
Liquor companies want the proposed increase in special consumption tax put off until they recover from the effects of the Covid-19 pandemic. The government plans to hike the taxes on beer, liquor, and cigarettes from now until 2030 and is still considering by…
Many seafood firms have seen a year-on-year surge in profits in the first quarter this year thanks to surging prices and recovering demand. Vinh Hoan Corporation, the largest listed seafood company, posted after-tax profits of over VND550 billion ($23.9…
Property developer Vinhomes reported a 17-percent decline in profits in the first quarter to VND5.89 trillion (US$256.8 million). Net revenues were down 9 percent to VND14.28 trillion, according to its consolidated financial statement. Around 62.5 percent of…
Vietnam’s gold consumption rose 6 percent year-on-year in the first quarter as inflation concerns pushed people to invest in safer assets. Gold consumption hit 19.6 tonnes, compared to 18.6 tonnes in the same quarter last year, according to the World Gold…
Digital transformation would be the key for Vietnam to achieve its targets of becoming a high-income country and a ‘net-zero’ emissions economy, an IFC vice president says. Vietnam has two big goals by the middle of this century. One is to become a…
The Ministry of Finance has turned down airlines’ requests for further tax breaks, saying they have received enough support from the government. In response to several airlines’ request to reduce value-added tax from 8 percent to 5 percent and fuel import tax…
Grade A office rents in HCMC rose by 5.1 percent quarter-on-quarter to US$44.9 per square meter per month last quarter. The average rent was 5.3 percent up from a year earlier, according to real estate consultancy CBRE Vietnam. Grade B rents averaged $25.9,…
Seedcom, the operator of The Coffee House beverage chain and June fashion outlets, posted a loss of nearly VND240 billion ($10.45 million) last year due to Covid-19 impacts. The loss increased by nearly 24 percent from 2020. Its debt-to-equity ratio rose by…
The State-owned Saigon Jewelry Company has reported revenues of VND17.7 trillion ($770.3) in 2021, down 25 percent year-on-year to its lowest since 2014. It has attributed the decrease to Covid-19 restrictions and lockdowns last year, which brought sales from…
Vietnam will reduce coal-fired power supply by two-thirds between 2025 and 2045 and increase renewable power supply to account for more than half of the total. All localities have expressed agreement with the Ministry of Industry and Trade’s latest version –…
Private lender TPBank expects its pre-tax profits to top VND8.2 trillion ($358 million) this year, up 36 percent from 2021. It also targets a 20 percent increase in assets to VND350 trillion. The bank plans a rights issue of 527 million shares this year to…
Vietnam’s benchmark VN-Index started off the week in the red with a 1.25 percent drop to 1,440.23 points Monday morning, the lowest in 11 weeks. The index fell by 17 points as of 11:06 a.m. after ending in the red in four out of the last six sessions. The…
Vietnam’s auto sales in March returned to growth with a 17 percent increase year-on-year to 36,962 units after two consecutive months of decline, according to Vietnam Automobile Manufacturers Association (VAMA). The figure was highest this year and brought…
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