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Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to a fresh report from Mastercard Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019. As COVID-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online. For retailers, restaurants, and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted. Roughly 20-30 per cent of the COVID-19-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymised and aggregated sales activity in … [Read more...] about New Mastercard report: E-commerce a COVID-19 lifeline for merchants

Efforts to stimulate domestic consumer market continue as pandemic threatens exports The Ha Noi Department of Industry and Trade will organise five Vietnamese Goods Weeks this year to stimulate demand. Photo baodauthau.vn The Ministry of Industry and Trade will organise conferences to connect producers, suppliers and retailers, and events for producers and traders, especially small traders, to help take goods to residential areas, industrial parks and rural and mountainous regions, the Sai Gon Giai Phong (Liberated Sai Gon) newspaper reported. It will help encourage consumption by fostering the evening economy and holding fairs and exhibitions of products and services. It continues to implement the ‘Vietnamese people give priority to using Vietnamese goods’ programme. It will also promote the adoption of IT and foster e-commerce. The Ha Noi Department of Industry and Trade will organise five Vietnamese Goods Weeks this year to stimulate demand. To be held in … [Read more...] about VIETNAM BUSINESS NEWS APRIL 16

SOEs must complete the sale of shares within four months, photo Le Toan State-owned lender Agribank has been stuck for years with divestment efforts because its real estate assets could not be approved by the Ministry of Finance due to their large size and complex procedures. “At the end of last year, the Ministry of Finance also made a comprehensive assessment on the equitisation goal of state-owned enterprises. Specifically, only about 28 per cent of enterprises were equitised, which means that nearly three-quarters did not meet the plan. The main issue is that many large corporations’ land use rights remain unclear, as can be seen in the cases of VNPT and Agribank,” explained Chu Manh Hung, deputy head of the Equitisation Department at Agribank. “Since the equitisation plan during 2016-2020 has not been completed yet, Agribank will continue carrying out this task for the 2021-2025 period,” he added. “However, there are still major roadblocks hampering the process, … [Read more...] about Divestment slow off the blocks for banks

The Da Nang Department of Construction has made public a list of commercial housing projects in which foreign organizations and individuals are allowed, or not allowed, to buy apartments or houses. Monarchy resort complex, one of the commercial housing projects that allows foreign organizations and individuals to own housing. This list includes 17 commercial housing projects that allow foreigners to buy and own houses: Blooming Tower Da Nang; Golden Square complex of commercial services, hotels and apartments; Quang Nguyen commercial apartment building; P.A Tower hotel and apartment complex. Apartment building No.38 Nguyen Chi Thanh (Lapaz Tower); Apartment building No. 6 Nguyen Du Street (Danang Plaza); HAGL Lakeview apartment building; Thuy Tu urban area; Monarchy resort complex; Harmony Tower Apartment building; Summit Apartments; An Vien residential area; Da Nang Green Hoa Binh Complex; Tower Garden Apartments; Azura Apartments; Da Nang estate and Da Nang … [Read more...] about Foreigners allowed to buy houses in 17 real estate projects in Da Nang

Vietnam's newly-appointed Minister of Agriculture and Rural Development Le Minh Hoan is determined to boost sustainable development in the Mekong Delta, improve the lives of the region’s farmers, and market its products under an internationally recognized global brand. In a recent discussion with Tuoi Tre (Youth) newspaper, Minister Hoan, who was ratified by the National Assembly on April 8, shared that his goal is to create “responsible agriculture” in Vietnam’s Mekong Delta. According to Hoan, the expansion of the country’s agriculture sector may not be a strong indicator of income growth and quality-of-life improvements for Vietnamese farmers. “Can we truly understand the lives of famers and their financial situations simply by looking at what the agriculture industry has achieved?” Hoan questioned. Sustainable farming During his tenure, Hoan hopes to create a balance between agricultural growth and the quality of life for famers while simultaneously managing the … [Read more...] about Vietnamese agriculture minister dreams of creating world-famous Mekong Delta brand