Retail is attractive for investors as the industry has advantages after foreign wholly-owned retail firms have been allowed to set up in Vietnam and taxes imposed on most of goods imported from other ASEAN countries to Vietnam are exempted. Vietnam’s retail industry is continuing to see more merger and acquisition (M&A) deals made by both domestic and foreign investors thanks to a rising income of local consumers and free trade agreements, but the competition in the market is also becoming fierce, experts said. South Korea’s GS 25 is completing final procedures to acquire Zakka Mart VinCommerce, the retail arm of Vietnam’s largest listed firm Vingroup, last week took over convenience store chain Shop&Go, which was one of the earliest ones in the country by opening its first store in 2006, for a symbolic US$1. Shop&Go now has 70 stores in Ho Chi Minh City and 17 in Hanoi, open 24/7 and selling consumer goods, fast foods and beverages among others. … [Read more...] about M&A in Vietnam’s retail industry on the rise in 2019
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Weather dominates Vietnam’s 2019 Google search trends
Weather and entertainment led the pack in Google's ‘Year in Search’ report, an annual ranking of the top search trends in various countries over the past 12 months. Vietnam’s search history was divided between nine categories for the report – trends, news, individuals, songs, movies, nearby locations, TV shows, questions, and domestic destinations. “ASEAN Cup 2019” (sic), took the number-two spot on the list – an apparent show of support from football fans who eagerly sought livestreams and information related to Vietnam’s performance at the 2019 AFC Asian Cup, where the Golden Dragons made it to the quarterfinals before their elimination in a 0-1 defeat against Japan. While weather and sports led the pack, five of the top ten most-searched phrases in Vietnam were related to music and television, particularly locally produced songs and international films and dramas. ‘Storm Nakri,’ the sixth tropical storm to hit … [Read more...] about Weather dominates Vietnam’s 2019 Google search trends
About 100 firms join Vietnam International Fashion Fair 2019
A booth of Duc Giang Corporation at the Vietnam International Fashion Fair 2019 (Photo: VNA) Hanoi (VNA) - The Vietnam International Fashion Fair (VIFF) 2019 officially opened at Hanoi's Vietnam-Soviet Friendship Labour Cultural Palace in Hanoi on December 11, attracting about 100 leading garment-textile firms. The event, covering nearly 3,000 sq.m, is jointly held by the Vietnam Exhibition and Fair Centre JSC (VEFAC) and Vietnam Textile and Garment Group (VINATEX), Vietnam Leather, Footwear and Handbag Association (LEFASO), and N Group. The fair features more than 150 booths showcasing famous fashion brands in garments and textiles, leather footwear, and cosmetics and beauty care services. Renowned domestic businesses in garments and textiles, such as Viet Tien, Duc Giang, Garment 10, Hoa Tho, and Phong Phu garment corporations, also attended at the event. The event, which runs until December 15, is expected to draw over 20,000 visitors. The annual fair is an opportunity for … [Read more...] about About 100 firms join Vietnam International Fashion Fair 2019
Cinemas requested to allocate 20 percent of screenings for Vietnamese films
Minister of Culture, Sports and Tourism Nguyen Ngoc Thien informed the National Assembly Thursday that every year 240 foreign films are imported, but just 40 Vietnamese films are produced. Vietnamese films are vastly outnumbered by foreign films in the local cinema market, he said. There is currently no regulation that limits film imports, hence the dominance of foreign films, the minister said. Vietnam needs to improve production and promotion of films by attracting investment for producing local films, he added. Another measure is to use technical barriers like censorship to prevent inappropriate foreign movies from being distributed in the market, Thien said. The minister also noted that Vietnam currently has many movies earning high revenues of up to VND200 billion ($8.5 million). In the first quarter of 2019, three movies raked in over VND100 billion ($4.3 million) in revenue: Furie (Hai Phuong), Winning Back My Pregnant Wife (Cua Lai Vo … [Read more...] about Cinemas requested to allocate 20 percent of screenings for Vietnamese films
Over 100 enterprises join Vietnam International Fashion Fair 2019
The Vietnam International Fashion Fair (VIFF) 2019 officially opened at Hanoi's Vietnam-Soviet Friendship Labour Cultural Palace in Hanoi on December 11. VIFF 2019 officially opened at Hanoi's Vietnam-Soviet Friendship Labour Cultural Palace on December 11. (Photo: VNA) The event, covering nearly 3,000 m2, is under the sponsorship of the Ministry of Culture, Sports and Tourism, and the Ministry of Industry and Trade. It is jointly held by the Vietnam Exhibition and Fair Centre JSC (VEFAC) and Vietnam Textile and Garment Group (VINATEX), Vietnam Leather, Footwear and Handbag Association (LEFASO), and N Group. The fair attracted over 100 exhibitors showcasing famous fashion brands in garments and textiles, leather footwear, and cosmetics and beauty care services across more than 200 stands. Renowned domestic businesses in garments and textiles, such as Viet Tien, Duc Giang, Garment 10, Hoa Tho, and Phong Phu garment corporations, also attended at the event. The event, which … [Read more...] about Over 100 enterprises join Vietnam International Fashion Fair 2019