July retail sales plunges nearly 20% due to COVID-19 Total retail sales of goods and services shrank 8.3 percent month-on-month in July to 14.84 billion USD as a result of restrictions induced to stem the ongoing COVID-19 outbreak. Total retail sales of goods and services in the first seven months of this year exceeded 121 billion USD, up 0.7 percent year on year. The Ministry of Industry and Trade is formulating specific plans to stimulate consumption and sustainably develop the domestic market./. Vinamilk posts record high net revenue in Q2 2021 The Vietnam Dairy Products JSC – Vinamilk, the largest dairy company in Vietnam, posted a record high in net revenue of 15.71 trillion VND (682.57 million USD) in the second quarter of 2021, a year-on-year rise of 1.4 percent, according to its financial report. The figure also rose by 19.2 percent compared to the previous quarter. The company’s after-tax profit exceeded 2.86 trillion VND in the period, a year-on-year … [Read more...] about VIETNAM BUSINESS NEWS JULY 31
Foreign investment
E-commerce expected to help Hung Yen longan reach out to foreign markets
The northern province of Hung Yen expects to harvest 50,000 - 55,000 tonnes of the fruit this year, 15 - 20 percent higher the output last year. (Photo: VNA) Hanoi (VNA) – The largest-ever international teleconference seeking buyers for longan and other agricultural products from the northern province of Hung Yen was held on July 15, Vu Ba Phu, Director of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency (Vietrade) told reporters. Sustainable Trade for Longan and Specialty Agricultural Products of Hung Yen Province 2021” gathered Vietnamese trade offices and embassies as well as foreign trade promotion agencies, partners, and importers from 22 countries and territories including the UK, Australia, Poland, Belgium, the US, France, Germany, Japan, the Republic of Korea, mainland China, Singapore, Taiwan and Hong Kong (China). Ten trade promotion organisations and foreign diplomatic representatives also participated in the event from Vietnam. Hung Yen … [Read more...] about E-commerce expected to help Hung Yen longan reach out to foreign markets
Foreign striker leaves Da Nang after two matches
Brazilian forward Claudecir dos Reis Rodrigues Júnior has left SHB Da Nang after only two matches, the club has announced. Brazilian striker Claudecir left SHB Da Nang after only two matches. Photo bongda24h.vn Coach Le Huynh Duc signed Claudecir to play for Da Nang, but after his resignation earlier this month and with Phan Thanh Hung coming in as his replacement, the Brazilian striker has found himself surplus to requirements. “I played two games for the team, but Da Nang lost twice. I was unlucky during that time and that's why I decided to leave,” Claudecir told thethao247.vn. “Currently, I still don’t have any plans for my future. However, I will never stop and will wait for new challenges. “I also won’t play for a club outside Vietnam and I will continue to challenge myself in the V.League 1," said the 31-year-old. On his personal Facebook page, the Brazilian player sent a letter to SHB Da Nang: "I have to admit that today is not a sad day for me even … [Read more...] about Foreign striker leaves Da Nang after two matches
Vietnam’s express delivery market reached $700.4 million in 2020
Vietnam's express delivery market has been soaring since the coronavirus pandemic The report points out that many domestic express delivery companies are operating in Vietnam and they are constantly witnessing huge growth by investing in the adoption of modern technology to meet the expanding demand in the delivery of goods through e-commerce. High adoption of express delivery services has been observed across major essential sectors, such as food and beverages and healthcare. The demand from Vietnamese customers to receive the items on the same day or in a day's time has increased over the years. The highest adoption is noticed across the healthcare sector. In the healthcare sector, the high demand for quality, availability, accuracy, and cost control place similarly high expectations on logistic solutions. Thus, the above-mentioned factors are likely to influence the growth of the Vietnam express delivery services market during the forecast period. The emergence of … [Read more...] about Vietnam’s express delivery market reached $700.4 million in 2020
Vietnam ranks third in logistics performance index in ASEAN
Illustrative photo (Source: VNA) Hanoi (VNA) – Vietnam ranks 39th among 160 countries and territories, and third in the Association of Southeast Asian Nations (ASEAN) in logistics performance index ( LPI ), heard a workshop held by the Ministry of Industry and Trade (MoIT) on July 30. The country is also placed among the top emerging markets with a growth rate ranging from 14-16 percent, Deputy Minister of Industry and Trade Tran Quoc Khanh said. The official highlighted in an increase in the number of logistics firms, and improved logistics services, saying they are the outcomes of efforts made by both businesses and the Government. Tranh Thanh Hai, Deputy Director of the MoIT’s Agency of Foreign Trade , said Vietnam’s total export-import revenue in the 2010-2020 period tripled the value recorded earlier. The logistics sector plays a significant role in the national economic development, including export-import activities, goods circulation at home and … [Read more...] about Vietnam ranks third in logistics performance index in ASEAN
Vietnam’s position in US defense strategy in Southeast Asia
The US Secretary of Defense is on a trip to Singapore, Vietnam and the Philippines. This is the first visit to Southeast Asia by a top official in the Biden administration. In Singapore, Mr. Lloyd Austin spoke at an event organized by the International Institute for Strategic Studies (IISS). The visit of the Pentagon leader demonstrates that the Biden-Harris administration considers Southeast Asia an important part of the Indo-Pacific region. The US Secretary of Defense’s two-day visit to Vietnam has just concluded. America's commitment to the region Vietnamese Defense Minister Phan Van Giang welcomed his American counterpart Lloyd Austin on the morning of July 29. Photo: Pham Hai This visit underscores the United States' enduring commitment to the region and its interest in upholding the rules-based international order in the region and promoting ASEAN’s central role. As US Defense Secretary, Mr. Austin has visited Europe twice to mend relations with … [Read more...] about Vietnam’s position in US defense strategy in Southeast Asia
