Trade - Service

Online fast moving consumer goods (FMCG) sales now reach 0.5 percent share in Vietnam, recorded a significant uplift of 69 percent against last year, according to a report of Kantar Worldpanel.

By 2025, the contribution of logistics is expected to reach from 8 – 10% of GDP.

The Ministry of Industry and Trade will continue implementing the ‘Vietnamese people give priority to using Vietnamese products’ campaign next year after gaining positive results over the past eight years.

The Ministry of Industry & Trade is actively implement action plan to improve competitiveness and the development of Vietnam’s logistics services until 2025.

On December 13, the Vietnam Development Forum (VDF), themed “Leveraging productivity growth for sustainable development”, was held in Hanoi.

The Asian Development Bank (ADB) forecasts that economic expansion in developing Asia will accelerate to 6% in 2017 as stronger than expected exports and domestic consumption fuel growth. Excluding Asia’s newly industrialized economies, growth is now expected at 6.5% this year, according to a new ADB report.

At present, the revenue from wholesale and retail activities have contributed to 14% of Vietnam’s GDP, in which retail market is attracting high amount of foreign investment.

In order for Vietnamese goods to compete with imported goods, local enterprises have to prioritize in products quality and the package design.

The Vietnamese footwear and garment sectors are confident of its ability to surpass the export targets set by the Government this year.

The National Centre for Socio-economic Information and Forecast under the Ministry of Planning and Investment (MPI) has outlined two scenarios for Vietnam’s economic growth next year.

Vietnam recorded a trade surplus of 2.76 billion USD in the first 11 months of the year, or 1.4 percent of total export turnover, according to the Ministry of Industry and Trade (MoIT).

For the first 11 months, Vietnam has a trade surplus of 2.75 billion USD, which is the highest number up to present. However, this number would be higher if trade deficit in the domestic sector was reduced and a better connection between FDI sector with domestic enterprises.

Deputy Prime Minister Vuong Dinh Hue has recently directed ministries to manage price of many necessary goods cautiously at the last month of the year to limit inflation to less than 4 per cent.

According to the Ministry of Industry & Trade, in the first 11 months of 2017, Vietnam’s rice export reached 5.52 million tons with value of 2.49 billion USD, up 24.1% in terms of quantity and 24.9% of quality compared to the same period of last year.

The garment and textile industry will continue to prosper next year, fetching roughly US$34 billion from exports, the Vietnam Textile and Apparel Association (Vitas) forecast.

Recently, the arrivals of international fashion brands such as mango, Zara, H&M to the Vietnamese fashion market have led to concern that local enterprises can lose right in home ground.

After 3 years of operating in Ho Chi Minh city, McDonald’s has finally opened its first restaurant in Hanoi on December 02.

Vietnam’s shrimp exporters are optimistic about business performance in the last two months of this year thanks to rising demand from major importing markets.

Leader of Grab Vietnam confirms again about its amount of taxes paid duirng period of 2014-2016.

This information is confirmed at the workshop on the EU – Vietnam Free Trade Agreement (EVFTA) held on Paris from December 1 by the Mouvement des entreprises de France (MEDEF), or the Movement of the Enterprises of France, the largest employer federation in France in collaboration with Asia Center.