Do i need to keep receipts for business expenses

This is the sustainable development direction for garment and textile industry. Made-in-Vietnam garment and textile products not only present in foreign countries but also in Vietnam. The industry needs to escape from the situation of lacking of initiative in raw materials instead of mainly producing yarn and processing products because currently, 60 percent of fiber materials must be imported. PM said that garment and textile industry is one of the industries with highest export turnover and is the most labor-intensive industry in the country with 3 million workers, accounting for a quarter of total labor force of industrial industry. Vietnam’s garment and textile industry has risen to the third largest in export after China and Bangladesh. Vietnam has not mastered and developed production stages such as dyeing, manufacturing high quality fabrics, high-quality materials and accessories. That is the reason why value added has not been high. At the same time, structure of export … [Read more...] about Garment, textile industry needs to give domestic market appropriate attention

Vietnamese Consul General to Fukuoka Nguyen Phuong Hong addresses the investment promotion workshop on April 10 (Photo: VNA) Fukuoka (VNA) – Many Japanese investors still lack information about Vietnam’s real estate market, heard an investment promotion workshop held by TMS Group in Fukuoka prefecture of Japan on April 10. Sumio Hara, Chairman and General Director of the So Kikaku Sekkei construction design company, told the Vietnam News Agency that to Japanese people, Vietnam is a leading investment destination in Southeast Asia. However, he hasn’t known much about the property market in Vietnam.  If more detailed information about the market is provided like through this workshop, the Vietnamese market will possibly become the top destination for Japanese property investors, he stressed. Addressing the event, Vietnamese Consul General to Fukuoka Nguyen Phuong Hong said her office is ready to support enterprises in the Kyushu region, in which the prefecture … [Read more...] about Japanese investors need more information about VN’s property market

He took safe food chains in localities, certified farms and slaughterhouses as examples. He said that the name of household businesses to sell safe food can be searched on internet to encourage people to make safe products. According to reports, 21,811 inspection teams have been set up in cities and provinces countryside as of October 2019 paying visits to 427, 842 business establishments. More than 65,000 business establishes have been found out to violate the regulation. Inspectors collected VND43 billion (US$1.8 million) fines on 12,000 violating establishments. Moreover, inspection teams asked to stop circulation of 169 products and destroyed products of 3,000 other facilities. So far, all cities and provinces have developed 1,492 safe food chains to sell 2,381 foodstuff products at 3,267 shops. However, prevention of smuggled commodities is bumping into difficulties. Besides, it is hard to control killing poultry and cattle in small-scale slaughterhouses in villages or … [Read more...] about Enhancing information of food safety needed: Deputy PM

  The AHK publicises a report on German firms worldwide (Photo: VietnamPlus)   Hanoi (VNA) – Compared to other regional countries, Vietnam has received special attention from German businesses and become a magnet for investment in the medium term. The AHK World Business Outlook (AHK WBO) was conducted by the Association of German Chambers of Commerce and Industry (AHK), with the participation of German entrepreneurs in Vietnam. It showed that Vietnam is a top investment destination for German businesses with high expectations of economic development in the medium term. German enterprises are optimistic about their businesses as well as the prospects for growth in the next year, despite the instability of the global economy due to trade tension, the outlook said. [Germany helps improve Vietnam’s SMEs via innovation programme] Representatives of as many as 77 percent of German businesses in Vietnam said their business is better this year, much higher than the … [Read more...] about Vietnam remains attractive investment destination for German firms

Foreign retailers, from Metro, Auchan, Casino Group to Parkson, have had to leave Vietnam because they did not understand the market well. Nguyen Anh Duc, deputy general director of Saigon Co-op, said he once criticized Co-opmart SCA Hanoi, a branch of Saigon Co-op, because the supermarket displayed old bananas for sale on inauguration day. Foreign retailers, from Metro, Auchan, Casino Group to Parkson, have had to leave Vietnam because they did not understand the market well. Localization means gathering the tastes and shopping needs of local consumers to build up a list of products for supply that can satisfy needs. Personalization is understanding shopping culture and demands for experience during the shopping process in order to offer new creative shopping models to attract customers. Nearly 2,600 supermarkets and sale points in 50 provinces/cities throughout the country and the data about 8 million customers are the important factors for VinCommerce to build a strategy. … [Read more...] about The costly competition in the retail industry