The abnormal feature that inspectors found was that the cooperatives with high profits of VND5-6 billion did not contribute capital, while cooperatives with modest profit of tens of millions of dong agreed to contribute hundreds of billions of dong. The abnormal feature that inspectors found was that the cooperatives with high profits of VND5-6 billion did not contribute capital, while cooperatives with modest profit of tens of millions of dong agreed to contribute hundreds of billions of dong. … [Read more...] about Why do private investors want to take over Saigon Co-op?
Saigon co op
Southeast Asian ride-hailing giant Gojek wrapped up a $1.2 billion investment in March. In May, Singapore's Ninja Van raised $279 million from backers including France's GeoPOst SA, scoring one of Southeast Asia's largest startup investments since the pandemic. Meanwhile, Vietnamese e-commerce platform Tiki wrapped up a $130 million investment from private equity fund Northstar Group, making the e-commerce operator one of the top five funded startups in Southeast Asia in the period. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 24
However, the increase in consumer promotions also did not manage to pull up the purchasing power that went down quickly and deeply because of consumers’ spending cuts in the context of the complicated developments of the Covid-19 pandemic. Noticeably, in the first seven months of this year, the consumer structure and mentality have had changes in a negative direction. Visiting shopping malls in Ho Chi Minh City during this time, many people share the same feeling that sellers outnumber buyers, although several domestic and international brands are still offering to reduce their prices by up to 50 percent. In many retail markets, most of the non-food stalls have stopped selling because there are no customers, only the fresh food sector is still active. At supermarkets, the situation is better because many customers come to shop, but the purchasing power is not as strong as before, but only focuses on the groups of food and foodstuffs for daily needs. According to the MM Mega … [Read more...] about Sharing difficulties with consumers
The representative of Saigon Co.op said their supermarket chains which include Co.opmart, Co.opXtra, and Co.op Food will all reduce food prices in August as an effort to help their customers. Meat, fish, cooking oil, instant noodles and spices will all have prices deeply cut. At the Co.opmart Nhieu Loc in District 3, the prices of pork and beef were reduced by 10-20%. A kilo of grounded pork is sold at VND153,000 and the Australian pork sold at VND259,000 (US$11) to VND280,000 a kilo. Many fish prices had price cut by 15%. A litre of cooking oil costs VND24,000 (US$1) to VND25,000 and instant noodles cost just VND1,000-VND2,000 a pack. Pham Quynh Trang from District 10 said since June, her salary has dropped by 20-30% so every expense must be tightened. "Seeing discount prices for meat and fish makes me relieved. We want to save as much as we can no matter what," she said. Do Quoc Huy, marketing director of Saigon Co.op said they had prepared a large number of goods for the retail … [Read more...] about Supermarkets slash food prices amid COVID-19
Hanoi (VNS/VNA) - The Ministry of Industry and Trade will build an origin tracing system to create a database on goods managed by the ministry to meet customers’ increasing demand on tracing origin of goods. This system will also connect with the national goods tracing system, according to the ministry. In addition, to contribute to the development of a sustainable value chain and to improve the quality of products, the ministry has issued Decision 1978/QD-BCT on a project implementing, applying and managing the tracing system of goods until 2025. According to the decision, the ministry will complete the system of legal documents on tracing products in the industry and trade sector and propose a list of products that must ensure traceability. The ministry will study the application of new technologies for traceability and support businesses in implementing traceability. It will also have an information programme on tracing origin of goods … [Read more...] about Ministry to build traceability system for products of industry and trade sector