(VEN) - The model of Vietnamese goods points of sales established in the northern mountainous province of Tuyen Quang has proven efficient. Booming sales In 2015, Tuyen Quang Province adopted a plan to establish a point of sales pilot model labeled “Proud of Vietnamese Goods”. The model has proven efficient in selected areas of the northeastern province where demand for Vietnamese goods is high, such as mountainous and remote areas. Vietnamese goods point of sales in Na Hang District, for example, have resulted in great changes in trade in this area. The Vietnamese goods point of sales set up in 2016 have drawn local residents to Nguyen Huu Vinh’s store to buy essential consumer goods, such as milk, processed food (shrimp noodles, snacks, rice cake, cooking oil and spices), and cosmetics. Distributors have come to the store asking to display their Vietnamese products on the shelves provided as part of the program. The store has become one of the most successful … [Read more...] about Tuyen Quang model promotes sale of Vietnamese goods
Cherry point yard sales
ZaloPay targets 1,000 points of sale
ZaloPay targets 1,000 points of sale Hanoi (VNA) - ZaloPay e-wallet, developed by VNG Corportion, aims to open about 1,000 new points of sale in 2018, according to Phan Thanh Thao, business development director of Zalo Pay. Run by ZION Company Limited, a member of the Vietnam Banking Association, ZaloPay enables electronic payment for bills such as electricity, water, internet and TV as well as money transfer via QR code and connection with bank accounts for cash withdrawals or recharge. To date, ZaloPay is accepted at many retail chains such as The Gioi Di Dong, FPT Shop, Vien Thong A, Nguyen Kim, Circle K, Family Mart, 7 Eleven, B’s Mart, Lotte Cinema, Galaxy Cinema, BHD Cinema, Viettravel and Tiki. Thao said that ZaloPay aims to become a popular e-wallet accepted by e-commerce websites, shopping centres and even small retailers. During Tet (Lunar New Year) holiday, ZaloPay is implementing a service to send lucky money among users. Pham Thong, marketing director of … [Read more...] about ZaloPay targets 1,000 points of sale
Cherry blossom in demand in Hanoi
Many people in Hanoi are flocking to the streets buying branches of cherry blossom to decorate their house for the last full moon of the Year of the Rooster. The price for each branch ranges from VND40,000 (US$1.76) to VND150,000 ($6.62). Nguyen Van Hau, 30, a salesman at the Quang Ba flower market in Hanoi, says that the demand for cherry blossom branches is increasing as the last full moon of the final lunar year and Tet (Lunar New Year) are approaching. Florists in Nhat Tan Ward usually cut out the most beautiful branches and put them on sale during this time of the year. A cherry blossom in Nhat Tan flower garden. Photo: Tuoi Tre “These cherry blossom branches will be used as decoration for houses before and during Tet. Each of them usually costs around VND40,000-150,000. We started selling them [3 days ago], with 40 branches sold every day,” Hau says. People go shopping for the most beautiful branches early in the morning. Photo: Tuoi Tre Van, a … [Read more...] about Cherry blossom in demand in Hanoi
Low automobile sales in 2017
The Vietnamese automobile market witnessed an unsuccessful 2017 as the total sales was lower than in 2016 and failed to reach the desired growth rate.The Vietnam Automobile Manufacturers’ Association (VAMA) had predicted that total sales of the automobile market in 2017 would grow by at least 10 per cent compared to 2016. However, according to a VAMA report, some 272,750 units were sold in 2017, reducing by 10 per cent year on year.The market saw a decrease in sales in all types of cars, in which the volume of passenger cars was down 15 per cent, commercial cars two per cent and special-purpose vehicles 12 per cent. Of the total sales last year, 164,960 cars were locally assembled and 77,790 cars were imported, decreasing 19 per cent and increasing 9 per cent, respectively, compared to 2016.Auto price standstillAccording to market insiders, the poor sales in 2017 was due to people’s psychology of waiting for an auto price cut with the import tax rate of cars from ASEAN … [Read more...] about Low automobile sales in 2017
Low-cost car sale sees sharp increase
Sales of low-cost cars are up sharply as the motorbike market reaches saturation point. More and more people can afford to buy cars The Ministry of Industry and Trade said motorbike sales reached 2.1 million in the first nine months of the year, down 11.3% on a year earlier, with car sales at 138,800, up 55.3% year-on-year. Motorbike dealers say sales have declined to January 2012 levels. The Vietnam Association of Motorcycle Manufacturers (VAMM) said the market is reaching saturation point, with 43 million motorbikes on the road in 2014. More and more people can afford to buy cars and more manufacturers are rolling out low-cost cars. The Vietnam Automobile Manufacturers' Association (VAMA) said sales of low-cost cars will increase, especially in 2016 as the economy maintains its recovery track and affluence grows. Vietnam is trying to build a domestic auto industry by increasing the special consumption tax on imported cars, and low-cost cars with smaller engines attract … [Read more...] about Low-cost car sale sees sharp increase
Dow hits 25,000 points for first time on US hiring data
US stocks opened 2018 in full-throttle bull market mode, bidding stocks up and continuing the succession of records seen last year, especially following the massive tax cut that President Donald Trump signed into law just before Christmas.The blue-chip index hit the landmark within minutes of the opening bell and pushed higher from there before leveling off. Near 1645 GMT, the Dow Jones Industrial Average stood at 25,045.86 up 0.5 per cent from Wednesday's close.The broad-based S&P 500 rose 0.4 per cent to 2,722.80, while the tech-rich Nasdaq Composite Index advanced 0.2 per cent to 7,076.54, both adding to Wednesday's records.Adding to the optimism about tax reform was the better-than-expected economic data, after payroll firm ADP reported that private employers added 250,000 jobs last month, well above the 190,000 that had been expected by analysts.The data come ahead of the more closely scrutinized government jobs report on Friday.Analysts said strong international economic … [Read more...] about Dow hits 25,000 points for first time on US hiring data
VN Index expected to surpass 1,300 points in 2018
The benchmark index on the HCM Stock Exchange ended 2017 at 984.24 points, setting a new 10-year high after having rallied a total of 4 per cent in six sessions. The benchmark index has risen 48 per cent since the end of 2016.The benchmark VN-Index was also among the top three stock indices with the best growth rates worldwide, along with Argentina and Mongolia’s markets.The minor HNX Index on the Ha Noi Stock Exchange also finished last year on a positive note at 116.86 points. The northern market index made up a five-straight-day increase of 3.4 per cent and totaled annual growth of nearly 46 per cent.Viet Nam’s stock market has doubled in size in the past year to reach VND3.52 quadrillion (US$155 billion), equal to 72 per cent of the country’s total gross domestic product (GDP).The strong development of the Vietnamese market was fueled by the sale and listing of large-cap enterprises---including brewers Sabeco and Habeco, petrol dealer Petrolimex, dairy producer … [Read more...] about VN Index expected to surpass 1,300 points in 2018
Building material manufacturers say sales remain dreary
Building material manufacturers say sales remain drearyManh Tung By Manh Tung - The Saigon Times Daily HCMC – Despite recent reports showing a slight recovery of the building materials sector, many manufacturers say they still have difficulty selling their products. According to data of the General Statistics Office, the consumer price index (CPI) for the group of housing and building materials surged 0.43% in May, with the consumption of major materials like cement, steel and tiles soaring year on year. Another report of the Building Material Department released at the same time pointed out that the rising consumption of building materials entailed growth of transport and other services. Speaking to the Daily, Vietnam Cement Association chairman Nguyen Quang Chung said domestic sales and exports of cement amounted to nearly 33 million tons in the January-June period, up around 10% from last year’s same period. The domestic consumption was almost equivalent to that … [Read more...] about Building material manufacturers say sales remain dreary
Thanh Hoa model promotes sale of Vietnamese goods
BoomingThe Thanh Hoa People’s Committee issued the plan to establish a point of sales pilot model labeled “Proud of Vietnamese Goods” in June 2016. Businesses, cooperatives, business households and small traders that have registered their business and fulfilled their tax obligations were selected to participate in the plan. Commodities at the points of sales are required to be domestically produced and diversified in type, with priority given to agricultural, forestry and fishery products, especially provincial specialties. In addition, they must meet the standards of quality, food safety and origin.The Thanh Hoa Mountainous Trading Joint Stock Company was the first to take part in developing points of sales in seven supermarkets in Quan Son, Quan Hoa, Lang Chanh, Cam Thuy, Nhu Xuan, Nhu Thanh and Thuong Xuan districts. In each supermarket, the company allocated 65-300sq.m to build a separate area for Vietnamese goods. In particular, all points of sales have been … [Read more...] about Thanh Hoa model promotes sale of Vietnamese goods
Auto sales drop extended
Auto sales drop extendedBy Quoc Hung - The Saigon Times DailyThis was the fifth consecutive monthly decline in auto sales for local manufacturers.VAMA blamed the poor sales on a 46% decrease in demand for sport utility vehicles (SUV) and multi-purpose vehicles (MPV) which have been Vehicles with cylinders exceeding two liters are subject to a 50-60% tax, while those with cylinders less than two liters are levied a 45% tax. Both new tax rates are up from the previous common rate of 30%.VAMA reported that in May, sales of multi-purpose vehicles crashed 46% to nearly 1,490 units, while the number of commercial vehicles sold dipped a staggering 28% to 4,780.However, the number of passenger cars sold was nearly 2,500 units, a 21% increase compared to the same period last year.Besides launching new passenger car models, automobile manufacturers have also marketed new versions of the models which have been selling well in Vietnam.Mercedes-Benz Vietnam and Samco saw 8% and 169% year-on-year … [Read more...] about Auto sales drop extended