Solar panels installed on the roof of a house in HCM City. — Photo tuoitre.vnViet Nam News HCM CITY — Hundreds of households in HCM City have been benefiting from homegrown solar power systems. The practice follows a Ministry of Trade and Investment’s decree on developing grid-connected solar power projects which came into effect in October 2017. It encouraged citizens to produce solar power at home to cover their domestic electricity demand and contribute to the national power grid. The method has proved to be a worthy investment as it helps reduce electricity costs for residents, Tuổi Trẻ (Youth) newspaper reported. About 860 families in the city have installed solar panels on their rooftops and registered to sell about 1 million kWh of electricity to Vietnam Electricity (EVN). Nguyễn Thị Thu Thắm from Tân Phú District spent VNĐ50 million (US$2,200) installing eight solar panels on her rooftop, which produce … [Read more...] about Home solar power systems shine in HCM City
Retail home improvement industry
VietNamNet Bridge - As a fast developing retail market in Asia, Vietnam has attracted many foreign retail giants in recent years. However, Vietnamese retailers still control 75 percent of market share. Vietnam has attracted many foreign retail giants Big C has 35 supermarkets in many cities and provinces, MM Mega Market has 19 retail centers, and Lotte March 13 supermarkets and hypermarkets, while Aeon, which has just arrived, also has four supermarkets. Foreign retail brands have also developed convenience stores. In HCMC alone, there are 1,000 convenience stores with Family Mart, B’s Mart, Circle K, Ministop and Shop & Go brands, which are gradually replacing traditional groceries. The business expansion plans by the foreign brands has caused worries to domestic retailers. Family Mart, for example, stated it will open 1,000 shops by 2020, while 7-Eleven wants to open 1,000 by 2027. A survey by Savills in HCMC in 2017 showed that 17 percent of consumers preferred going to … [Read more...] about Do Vietnamese retailers have the upper hand over foreigners?
Ousmane Dione - Country director for Vietnam, World Bank We note that trade is slowing, which generates greater competition for countries like Vietnam. Vietnam has benefitted from a robust foreign direct investment (FDI) sector that has directly employed about 2.4 million workers. Yet neighbouring countries, such as Cambodia and Myanmar, are emerging as competitors for low-skilled production jobs. In some cases, rapid technological change is even resulting in reshoring of jobs back to the home countries of FDI. Vietnam can harness the shifting trade patterns to its advantage. For example, there will be increasing demand for manufactured goods from an expanding consumer class in Asia. The share of households with income for extra consumption in developing Asian countries is projected to rise from 20 per cent in 2002 to 80 per cent in 2030. Here in Hanoi, we see shopping malls like AEON, Royal City, and Lotte packed with families on the weekends. Middle-class families now have time and … [Read more...] about WEF drives Vietnam to an Industry 4.0 future
Viet Nam News HÀ NỘI — Leading real estate and retail conglomerate Vingroup signed agreements with the top 50 universities in Việt Nam on Tuesday as it aims to become an international-standard technology-industry-service business in the future. Vingroup has agreed to provide funding for university science-technology projects and co-operate with them in training and educational programmes to share ideas and lectures. In addition, Vingroup has committed to employing 100,000 technology students within the next 10 years. Vingroup on Tuesday signs partnership agreements with the top 50 technology universities in Việt Nam. — Photo Vingroup The activities are parts of the group’s plan to become an international-standard technology-industry-service conglomerate by 2028 with a focus on technology development and application. To achieve the target, Vingroup plans to improve the quality and efficiency of its service and trading segment. … [Read more...] about Vingroup to become tech-industry-service conglomerate
Illustrative image (Source: VNA) HCM City (VNA) – The southern economic hub Ho Chi Minh City has set the target of achieving 6.82 – 9.06 percent growth in the total retail and consumer services from 2026-2030. It is set under a master plan on trade sector development until 2025 with orientations to 2030 recently issued by the municipal People’s Committee. Accordingly, services sector will contribute to at least 58 percent of the gross regional development product until 2020. The total retail and consumer services will expand by 8.55 – 11.53 percent annually while retail via shopping malls and supermarkets will reach at least 40 percent of the total. From 2021-2025, the respective figures will 10.89 – 14.02 percent and at least 50 percent. In order to achieve the above targets, the city plans to build and upgrade parking lots and warehouses around markets, and ensure food hygiene and safety with clear origin to improve competitiveness. … [Read more...] about HCM City targets 9 percent growth in retail, consumer services