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Tag: hanoi

  • Grab adds heatwave surcharge on motorbike services

    Grab adds heatwave surcharge on motorbike services

    Grab has become the first ride-hailing firm in Vietnam to announce a new surcharge on its motorbike services starting Thursday.

    The surcharges are VND5,000 (20 U.S. cents) for each GrabBike trip and GrabFood order in some localities including HCMC, Hanoi, Hai Phong, Da Nang and Can Tho.

    GrabExpress services in HCMC and Hanoi will attract a surcharge of VND3,000 for each delivery.

    The surcharge will be applied “during extremely hot weather”, Grab said on its website without disclosing further details.

    The Singapore-based ride hailing firm is the first to roll out surcharges for hot weather conditions. Earlier, a surcharge of VND10,000-15,000 has been applied for late nights and the Lunar New Year holiday.

    In early March this year, Grab had raised all fares by VND500-2,500 to aid drivers coping with surging gasoline prices.

  • Aeon Mall wants four more Hanoi projects

    Aeon Mall wants four more Hanoi projects

    Japanese retail giant Aeon Mall wants to invest in 3-4 more projects in Hanoi by 2025. At a recent meeting with Hanoi Party secretary Dinh Tien Dung, Nagakawa Tetsuyuki, general director of Aeon Mall Vietnam, said the Aeon Mall Hoang Mai project is now in its last preparation stages for investment. It has enough funds, personnel and equipment to begin construction right after investment procedures are completed, he said.

    Aeon Mall is currently operating six projects in Vietnam, including two malls in Hanoi’s Long Bien and Ha Dong districts. It plans to launch 16 more projects in Vietnam by 2025.

    Tetsuyuki said he hopes Hanoi will continue its support so the Aeon Mall Hoang Mai project can begin construction in the third quarter. The firm has also requested the city to support the establishment of another Aeon Mall project in Bac Tu Liem District.

    Hanoi Party Secretary Dinh Tien Dung said the capital would improve its investment environment and streamline policies to attract investments from both inside and outside Vietnam. He said Hanoi was attentive to supporting the Aeon Mall Hoang Mai project and would request relevant agencies to cooperate with Bac Tu Liem authorities.

    Hanoi deputy chairman of Nguyen Manh Quyen said he would request relevant authorities to complete legal procedures regarding the Aeon Mall Hoang Mai project so construction can begin as planned. Regarding the Bac Tu Liem project, Quyen said the proposed location has been earmarked for a park, so the city will request authorities to propose another location for it.

  • Hanoi housing prices keep rising on low supply

    Hanoi housing prices keep rising on low supply

    Housing prices in Hanoi rose the most in five years, driven up by limited supply and the specter of inflation. According to leading properconsultancy CBRE, the average price of a new apartment increased by 13 percent to US$1,655 per square meter. In the secondary market, it was up 9 percent at $1,278.

    In Vietnam, housing has historically been a safe haven investment during times of high inflation.

    In the quarter ending in March, the new housing supply was 3,500 units, down 39 percent quarter-on-quarter and 20 percent from the same period last year.<

    The decline was caused by a new wave of Covid-19.

    Most of the new supply came from ongoing phases at six projects. Only two came into the market for the first time.

    Mid-priced apartments accounted for 66 percent of the new supply. Demand was higher than new supply, with 4,200 units being sold during the quarter.

    CBRE forecast a supply of 26,000-28,000 units this year, but said the affordable segment would continue to face a scarcity.

    While over 90 percent of the new supply would be sold thanks to the bullish market sentiments, the trajectory could change at the end of this year, depending on the economic situation.

    Prices are expected to keep rising in the first half of 2022 but speculative trading would come down due to a crackdown by authorities, it added.

  • Gojek drives car service into Hanoi

    Gojek drives car service into Hanoi

    Ride-haling platform Gojek has launched its GoCar Protect service in Hanoi a month after introducing it in HCMC.

    The Indonesia-headquartered company guarantees that all its drivers have got two doses of Covid-19 vaccines and all cars are equipped with an air purifier and a transparent protective shield to separate drivers and passengers.

    Drivers must take a selfie to prove they have a mask on at the start of the day.

    Gojek Vietnam general manager Duc Phung called the launch in HCMC a success after seeing a “multifold increase” in the number of bookings.

    “The risk of infection continues to be our users’ top concern when considering mobility options,” and that this is why the company continues to adopt stringent safety practices, he said.

    The launch adds a third car ride-hailing option in Hanoi after GrabCar and beCar.

    Gojek, which entered Vietnam in 2018, introduced its car services much later than its competitors, who have been at it for years.

    Ride-hailing and food delivery revenues rose by 35 percent in 2021 to $2.4 billion, according to a report by Google, Temasek and Bain & Company.

  • Samsung has invested nearly $18 bln in Vietnam

    Samsung has invested nearly $18 bln in Vietnam

    Samsung has invested $17.74 billion in Vietnam in the last 24 years, 29 percent of it in the last five.

    With eight manufacturing and research facilities in the country, the South Korean electronics giant achieved revenues of nearly $60.5 billion in the first 10 months of this year, Samsung Vietnam CEO Choi Joo Ho told Deputy Prime Minister Le Minh Khai at a meeting in Hanoi Monday.

    It marked a 15 percent year-on-year rise despite the challenges to keeping factories going and sourcing parts amid Covid-19, he said.

    Exports accounted for nearly 89 percent of the revenues, he added.

    The company is building a $220-million research and development center in Hanoi, the first of its kind outside of its home country.

  • Hanoi plans motorbike ban after 2025

    Hanoi plans motorbike ban after 2025

    Hanoi plans to ban motorbikes in core districts after 2025, five years earlier than an earlier plan, in order to reduce traffic congestion and emissions.

    The ban will apply to all districts within the third ring road and on three major roads: Truong Sa, Hoang Sa and National Highway 5, according to a plan being prepared by the city administration.

    After 2030 the ban will expand to all districts within the fourth ring road.

    The plan is set to be voted upon on Tuesday.

    The capital has around 5.6 million motorbikes and 600,000 automobiles.

    Poor public transportation development has driven the use of personal vehicles in Vietnam as a whole and in its major cities, in particular.

    Currently, in Hanoi, the public bus system plies 140 routes, meeting an estimated 31 percent of total demand.

  • Private hospitals suffer pandemic inflicted losses

    Private hospitals suffer pandemic inflicted losses

    Private hospitals in HCMC and Hanoi are reporting losses after months of limited operations necessitated by the Covid-19 pandemic.

    After four years of making a profit, the Tam Duc Heart Hospital in HCMC’s District 7 posted a loss of VND13 billion ($571,440) in the third quarter this year.

    Its revenue plunged 63 percent to nearly VND54 billion.

    The hospital has cut down salaries but high overhead costs and additional Covid-19 measures remained major financial burdens.

    Its nine-month profit has fallen 86 percent year-on-year, the hospital said.

    In Binh Tan District, Trieu An Hospital posted its second quarterly loss in a row at VND22 billion, against VND14 billion in the second quarter.

    The hospital saw third-quarter revenues plunge 70 percent year-on-year.

    In Hanoi, the Transportation Hospital in Dong Da District saw a loss of VND11 billion in the third quarter, with revenue dropping 36 percent year-on-year to over VND24 billion.

    Its accumulated loss stands at nearly VND188 billion, the hospital said.

    Nationally, the number of health checks fell 10 percent year-on-year last year to VND167 million, according to the health ministry.

  • Mercedes dealer reports record loss in Q3

    Mercedes dealer reports record loss in Q3

    Hang Xanh Motors Service JSC (Haxaco), a major Mercedes-Benz dealer in Vietnam, reported a record loss, more than VND33 billion ($1.4 million) in Q3, due to social distancing orders.

    Revenue in Q3 was VND700 billion, down 59 percent compared to the same period last year.

    Social distancing measures applied in Hanoi, Ho Chi Minh City and other localities in this quarter have seriously affected Haxaco and the automobile industry. The company’s two branches in HCMC had to temporarily close in Q3 while another in Hanoi was closed until Sept. 12.

    “This has caused a decline in our sales and services during this period,” the company noted.

    Between January and September, the auto dealer’s revenue was VND3.4 trillion, down 9 percent over the same period, equivalent to 35 percent of this year’s business plan.

    However, profit dropped by 45 percent to VND44 billion.

    Despite the revenue decline, the company retains a positive forecast for the last quarter of this year. It has thoroughly prepared to resume operations in the new normalcy, with all employees fully vaccinated to ensure operational safety.

    Previously, in the annual meeting at the beginning of the year, the company set a business plan for 2021 with a net profit of VND126 billion.

  • The Ritz-Carlton Residences to arrive in Hanoi

    The Ritz-Carlton Residences to arrive in Hanoi

    The first Ritz-Carlton branded residences in Vietnam is set to open in late 2023. Masterise Homes and Marriot International on May 10 announced the signing of an agreement for The Ritz-Carlton Residences, Hanoi, a standalone luxury branded residential project that marks the debut of the Ritz-Carlton brand in Vietnam, slated to open in late 2023.

    The Residences at the Grand, Hanoi will be situated in the heart of the prestigious Hoan Kiem District, along popular Hang Bai Road and near Hoan Kiem Lake, one of the city’s most beloved landmarks. The anticipated 104-unit branded residences will feature one-bedroom Premier, two-bedroom Classic, and three-bedroom Presidential suites, to suit each resident’s needs and preferences.

    The project features award-winning architects, designers, and project management consultants. Once complete, the residences will be the country’s first Ritz-Carlton Residences and the fifth in Asia Pacific following Singapore, Bangkok (Thailand), Colombo (Sri Lanka), and Kuala Lumpur (Malaysia). The agreement leverages the long-term strategic partnership between Masterise Homes and Marriott International, combining the expertise of a pioneer in luxury real estate products and services in Vietnam and the global hotel management company, owner of the Ritz-Carlton brand.

    Jason Turnbull, deputy managing director cum CFO Masters Homes, commented: “The Ritz-Carlton Residences, Hanoi at The Grand is an ultra-luxury development set to offer an enduring legacy for residents and expected to be a masterpiece that matches the beauty of the facade’s classical architecture and modern design combined with the legendary service of The Ritz-Carlton. This project expects to change how we look at ultra-luxury living and elevate Vietnam’s position on the global real-estate map.”

    In line with the long-standing tradition of service excellence synonymous with The Ritz-Carlton brand, homeowners will be able to enjoy world-class amenities complemented by the legendary service from the Ladies and Gentlemen of The Residences. Its prominent location offers the best of the city within close proximity and allows residents to enjoy the vibrancy of Hanoi’s Old Quarter streets, and return to the comfort and privacy of their residences in mere minutes.

    “We are thrilled to continue working with Masterise Homes to amplify our luxury presence in Vietnam with the signing of The Ritz-Carlton Residences in Hanoi – embracing the growing demands for branded living in this burgeoning cosmopolitan city,” said Rajeev Menon, president, Asia Pacific (excluding China), Marriott International.

    “Vietnam is a dynamic market and we look forward to bringing the brand’s refined style and legendary services to residents in Vietnam.”

    The Residences at The Grand, Hanoi is the second Marriott branded residences in Vietnam, following the milestone dual- branded Grand Marina, Saigon announced earlier this year, which operates under two brands within the Marriot Bonvoy portfolio – JW Marriott and Marriott Hotels.

    The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, MD., part of Marriott International, Inc., currently operates more than 100 hotels and over 45 residential properties in 30 countries and territories. With 100 years of history, an unshakeable credo and corporate philosophy of un-wavering commitment to service, both in their hotels and in our communities, The Ritz-Carlton has been recognized with numerous awards for being the gold standard of hospitality.

    Masterise Homes, a member of Masterise Group, is a pioneer in bringing world-class excellence to the development, operations, and management of luxury real estate products and services, in the Vietnamese market and beyond. With a one-of-a-kind portfolio comprising the largest Branded Residences in South East Asia, Masterise Homes demonstrates world-class capabilities via a strategic partnership with Marriott International, the largest hotel brand in the world featuring the iconic brands of Marriott, JW Marriott and Ritz-Carlton.

  • Hanoi to restrict motorbike shipper timings

    Hanoi to restrict motorbike shipper timings

    Hanoi will restrict motorbike shippers’ timings to between 9 a.m. to 8 p.m. every day, starting Monday, while requiring continued compliance with all pandemic prevention and safety measures.

    All shippers, accordingly, will have to furnish a certificate with negative PCR or rapid antigen test results in line with health ministry regulations.

    The timing restrictions are needed because the motorbike delivery service is hard to control and carries the risk of further spreading the coronavirus, officials said.

    Hanoi has allowed delivery people from supermarkets, e-commerce platforms and postal services but not from ride-hailing companies like Grab, Be and Gojek since July 24.

    Hanoi has undergone several social distancing orders since late July. It has recorded over 3,700 infections in the ongoing outbreak that hit the nation late April.

    City authorities have said that they would extend strict lockdown orders in most parts of the city after September 6.

  • Online market places for neighborhoods in Hanoi become popular

    Online market places for neighborhoods in Hanoi become popular

    With shops closed and delivery services facing restrictions due to the Covid-19 outbreak in Hanoi, apartment dwellers have stepped infill the supply gap by selling online.

    Thu, a clerk at a media company, who is working from home amid the social distancing, said: “I orders goods online for home delivery and pay through bank transfer. The goods are hung on my apartment door.”

    The online market, which serves Thu’s apartment block and others nearby, has over 2,000 members who buy and sell items like fish sauce, salt, cooking oil, rice, vegetables, fruits, meat, eggs, and processed foodstuffs, she said.

    Prices are slightly higher than at traditional markets, but people like Thu accept that because “we don’t have to go outside, minimizing contact and the risk of contracting the disease.”

    In the beginning many sold goods online for a little bit of extra income and even just for fun, but later, when their jobs were severely affected by the pandemic, it became their main source of income.

    “I order fresh pork from my hometown in the countryside, pack and deliver the meat to people in my residential area,” she said.Thai, a kindergarten teacher in Hanoi’s Ha Dong District, started selling foodstuff on an online market for residents of her apartment block when her kindergarten closed down.

    “Within 30 minutes of advertising pork online I often get orders for 50 kilograms.”

    Quang, an administrator of an online market of an apartment block in Cau Giay District, said the market sells essential goods with clear regulations on product quality and non-cash payment, and so has recently become busier, especially amid the Covid outbreak.

    Hanoi has gone over a month under a citywide social distancing order starting July 24, the longest such period since the novel coronavirus first appeared in the country. It has extended its social distancing order until September 6 as the novel coronavirus threat persists.

    The capital has recorded 2,909 local Covid-19 cases since the fourth coronavirus wave hit the country late April.

  • Hanoi supermarkets limit customer numbers

    Hanoi supermarkets limit customer numbers

    Many supermarkets in Hanoi are starting to impose social distancing, limiting the number of customers and the volume of foodstuffs they buy.

    BigC Thang Long Supermarket stipulated that each customer is allowed to buy a maximum three-egg blisters a day, while the respective rate at MM Mega Market is five egg blisters.

    Aeon Mall Ha Dong announced each shopper could buy 30 chicken eggs each time. Its egg price currently stands at VND3,000 ($0.13) per egg, up VND300-400 against a week earlier.

    In supermarkets across Hanoi, most essential groceries like fresh vegetables and fruits are abundant. Only poultry eggs are insufficient from time to time, so many supermarkets have limited the number of eggs customers may buy.

    A shopper named Le in Cau Giay District said: “After going to the third supermarket, I managed to buy two egg blisters. It is very hard to buy eggs this time,” he said.

    Go!Market Supermarket in Thanh Xuan District announced it had limited the number of people entering its premises at once. Shoppers are required to make health declarations online or via QR code scans, have temperature checks, sanitize their hands, receive coupons, and queue for entry. Every 10 minutes, supermarket staff would guide a group of customers to enter it.

    Supermarkets in Hanoi were taking stricter measures to prevent and combat Covid-19, after some wholesales markets and supermarkets in the capital were closed down due to pandemic impacts.

    Since Hanoi imposed social distancing to fight Covid-19, Thanh, a resident of Tan Trieu Commune, Thanh Tri District, Hanoi has visited the local market or a nearby supermarket once a week. Earlier, she went shopping every other day.

    On Sunday, her residential area gave each household a coupon for shopping at the local market or nearby supermarkets thrice a week at fixed time frames of 8 a.m. to 2 p.m. and 3 p.m. till 9 p.m.

    Many other districts of Hanoi have distributed coupons to families so they could buy essential goods at markets, supermarkets and convenience stores on odd or even days at fixed time frames.

    Hanoi has recorded 1,457 Covid-19 cases in the ongoing wave. The city is on its 10th day of a 15-day strict social distancing campaign.

  • Japanese retailer Muji opens first store in Hanoi

    Japanese retailer Muji opens first store in Hanoi

    Japanese chain retailer Muji opened its first store in Hanoi on Saturday after opening one in HCMC last November. The store, which spans 2,000 square meters at Vincom Center Metropolis on Lieu Giai Street, is the second to be opened in Vietnam.

    The flagship store in Hanoi provides around 5,000 products, ranging from fashion, cosmetics to household items, interior design and food.

    Tetsuya Nagaiwa, Muji’s head of Vietnam business, said the chain spent two years searching for a suitable location for the Hanoi store, a much longer process compared to its HCMC endeavor.

    The southern metropolis’s downtown District 1 is a no-brainer when it comes to choosing a location for a store. But Hanoi has multiple locations with different capacities for attracting customers, Tetsuya explained.

    Vincom Center Metropolis was eventually chosen since it is in an area with a big Japanese population and is wide enough to host a large store.

    Tetsuya said Muji’s current strategy is to take hold of Hanoi and HCMC, both major cities, to boost brand recognition. Afterward, depending on factors like economic development and population, Muji would consider opening more stores in other cities.

    Vietnam is among the world’s most promising retailer markets right now, Tetsuya said, adding the country has attracted a large number of investors thanks to its ever-growing economy and a young population with a middle-class income.

    Certain Muji products sold in Vietnam would be cheaper than other markets’ as they are produced by domestic manufacturers, he said, without revealing exact information regarding the domestic factories.

    Muji, founded in 1980, has over 1,000 stores in 33 countries and territories.

  • Vingroup sets up drug company

    Vingroup sets up drug company

    Vietnam’s largest private company, Vingroup, has established pharmaceutical company Vinbiocare with a charter capital of VND200 billion ($8.6 million).

    Its focus will be on medicine, vaccines.

    Vingroup owns 69 percent of Vinbiocare Biotechnology JSC, its formal name, which is headquartered in Hanoi, while Phan Quoc Viet, CEO of tech firm Viet A Technology Corporation, owns 30 percent. The remaining 1 percent is held by an individual investor, Phan Thu Huong.

    Mai Phuong Noi, deputy CEO of Vingroup, is its chairwoman.

    Vingroup entered the pharmaceutical industry in 2018 by establishing Vinfa JSC and setting up a plant in Gia Binh District in the northern Bac Ninh Province.

  • Hanoi metro tickets to cost $0.35-0.65

    Hanoi metro tickets to cost $0.35-0.65

    Fares on Hanoi’s first metro will range from VND8,000-15,000 ($0.35-0.65).

    City authorities have also decided that a day pass on the Cat Linh – Ha Dong metro line for unlimited trips will cost VND30,000.

    A monthly pass will cost VND200,000 and half that for students and workers at industrial parks.

    For businesses buying the monthly pass for its employees, the rate will be VND140,000.

    Travel will be free for seniors, children under six, people with disabilities, and people designated by the government as poor.

    Fares are subsidized to boost the use of public transport, city authorities said.

    People using non-cash payment methods will get a discount of VND500 per trip.

    Travel will be free for the first 15 days after the metro begins operation, though the start date has not been announced yet.

    The full trip from Cat Linh to the south-western district of Ha Dong through 12 stations will take 25 minutes.

    A train can carry 960 passengers.

    Trains will run from 5 a.m. to 11 p.m every day.