The consumer price index (CPI) between January and May increases by 2.74 percent from the same period last year. (Photo: VNA) Hanoi (VNA) – The consumer price index (CPI) between January and May increased by 2.74 percent from the same period last year – the slowest five-month pace over the last three years, according to the General Statistics Office (GSO). The GSO said on May 29 that the CPI in May grew by 0.49 percent from April, 1.5 percent from December 2018, and 2.88 percent from the same period last year. Compared to the previous month, nine of the 11 groups of main consumer goods and services recorded price hikes in May, including transport (up 2.64 percent); housing fees and construction materials (1.28 percent); beverage and cigarette (0.18 percent); and garments, headwear, and footwear (0.12 percent). Price declines were reported in medicines and healthcare services (down 0.06 percent), and postal and telecom services (0.05 percent). Explaining the CPI … [Read more...] about Five-month CPI rises 2.74 percent year-on-year
The CBU (complete built unit) imports to Vietnam in the first seven months of the year were five times higher in number than in the same period last year. Minister and Chair of the Government Office Mai Tien Dung has said that the government will soon amend Decree 116/2017 on conditions to manufacture, assemble, import and trade cars and maintenance services. It is expected that provisions related to car imports will be removed. Instead of examining cars by consignments as currently regulated, the government would amend the legal document, so that imports would be examined by vehicle type, while pre-customs clearance examinations would be replaced by post examination. Car importers believe that once the decree is amended, it will be easier for CBU imports to enter Vietnam. According to a representative of Thaco, ‘examination by type’ means that state agencies will take samples to test emissions and safety, and the results of the tests will be applied to the next … [Read more...] about Will car imports ‘crush’ domestically assembled cars?
MWG warned shareholders that Bach Hoa Xanh may not break even within the year as targeted before Viet Capital Securities (VCSC) reported that Bach Hoa Xanh will postpone the target to break even that had been set for the end of this year. Bach Hoa Xanh set the goal to reach the break-even point which excluded the general and administration expenses (G&A) of its two recently new distribution centres in the South-Central Coast. Bach Hoa Xanh is currently present in three provinces in this region with a total of 15 stores. However, Bach Hoa Xanh needs to invest in advance in distribution centres to pave the path for further stores down the road. As a result, the cost of distribution centres over revenues (including the cost of distribution centre operations and the cost of transporting goods from distribution centres to stores) has increased to around 5.5 per cent in recent months compared to 4.5 -5.0 per cent as before. The average sales per store of Bach Hoa Xanh dropped to about … [Read more...] about MWG predicts Bach Hoa Xanh may break even only next year
Customers in a supermarket in HCM City (Photo: VNA) HCM City (VNS/VNA) - Ho Chi Minh City authorities are working with local businesses to ensure supply of essential goods under the city’s market stabilisation programme for the Tet (Lunar New Year) holiday. Under the market stabilisation programme for the year, essential foods include 10 commodity groups. These goods normally account for 25-30 percent of market demand, but in the months prior to and during Tet, the figure rises to 30-40 percent. Tran Duy Dong, director of the Ministry of Industry and Trade’s Department of Domestic Market, said it would ensure supply of essential goods in the last months of the year and during January. The holiday falls on January 25. Dong, however, pointed out that the supply of essential goods and stabilised prices are “ensured at supermarkets, but prices at traditional markets are not”. The ministry will … [Read more...] about HCM City ensures supply of essential goods for Tet
Consumers have raised concerns over the significant increase in April's electricity bills. (Photo: hanoimoi.vn) Hanoi (VNS/VNA) - Government inspectors will investigate the latest power price increase by 8.36 percent to 1,864 VND (8.03 US cents) per kWh from March 20 following concerns among the public. According to a document sent by the Government Office, Prime Minister Nguyen Xuan Phuc has asked the Government Inspectorate to work with the Ministries of Industry and Trade, and Finance to study the price calculation method of electricity bills and their collection. The inspectorate and the two ministries should clarify whether the electricity price hike was right or wrong and report to the PM by next month. The document said the PM’s decision follows many households complaining about sudden and significant increases in their electricity invoices for April. Deputy Minister of Industry and Trade Do Thang Hai said the ministry shared people’s concerns about the … [Read more...] about Government inspectors to investigate power price hike