Retail News CRM

Tag: Vietnam

  • Vietnam named most affordable country in the world for foreigners

    Vietnam named most affordable country in the world for foreigners

    Nearly one in five said they have far more money at their disposal than their lifestyles require.

    The Expat Insider 2017 survey released on Thursday has put Vietnam in the spotlight as the cheapest place to live for expats.

    The country has jumped five places from the previous year to top the 2017 table, confirming how affordable it is for foreigners to live and work here.

    The survey was developed by asking 12,519 respondents, representing 166 nationalities and living in 188 countries around the world, how they felt about their financial situation, and whether their disposable income was sufficient to cover their expenses.

    The cost of living in each country was compiled from the global cost of living database Numbeo. All amounts are in U.S. dollars and current as of September 2017.

    Mexico and Colombia round off the top three most affordable locations, while expats living in Switzerland and Israel find it the hardest to get by on the money they make

    Lees ook:

    Lees ook:

  • Vietnam’s benchmark index hits ten-year high on back of blue chip gains

    Investors have been spending big on the stock market so far this year.

    Ho Chi Minh City’s VN-Index broke the 800-point barrier on Friday for the first time since February 2008.

    The index finished up 4.48 percent at 801.5 points.

    Growth was driven by blue chips, including brewery giant Sabeco, Masan Group, insurance firm Baoviet and Vietcombank.

    The benchmark index hit an all-time high of 1,170.67 in March 2007, before a sharp sell-off in the wake of the global financial crisis.

    The average transaction value reached about VND3 trillion ($132 million) per session last year, but it has been hitting up to VND7.5 trillion at some points this year.

  • Saigon Co.op to launch retail startup TV reality show

    Saigon Co.op to launch retail startup TV reality show

    Vietnam grocery retailer Saigon Co.op has launched a TV reality show on retail startups.

    The show called “One Billion Start up With Saigon Co.op’’ aims to find and train the next generation of successful entrepreneurs. It will kick off on October 15 and run until December 31 this year.

    Broadcasted weekly on HTV9, the show expects to attract around 5000 candidates with three finalists standing a chance to receive the Grand Prize of VND1 billion (US$44,000), and become the owner of a Co.op Smile modern grocery store.

    A typical Co.op Smile store has flexible operational space suitable with urban and suburban residence and stocks 750 – 1300 products across various categories.

    Saigon Co.op aims to work with the Ho Chi Minh City government to drive entrepreneurship and make the city the birthplace for start-ups.

    Qualified challengers will compete against one another in a “common house” on specific knowledge, creativity and situation management, which are crucial factors for a successful start-up.

    “With the growing start-up trend, we are looking to encourage the younger generation to participate in the challenge to gain more knowledge towards having a successful business,” said a Saigon Co.op representative.

    During the competition, Saigon Co.op will provide competitors with useful advice, including retail business models, mobile sales tips, store design and advertising and marketing concepts to drive customers into stores.

    Lees ook:

    Lees ook:

  • Carlsberg eyes at least 51 pct stake in Vietnam’s Habeco

    Carlsberg eyes at least 51 pct stake in Vietnam’s Habeco

    The government wants to fully divest its majority stake in Habeco as also in rival Sabeco.

    Danish brewer Carlsberg is keen on increasing its stake in Habeco, one of Vietnam’s biggest brewers, to at least 51 percent, a local news website reported, citing a Habeco executive.

    Vietnam has one of the world’s most attractive beer markets and the biggest in Southeast Asia, buoyed by a young population that consumed nearly 4 billion liters last year. The government wants to fully divest its majority stake in Habeco as also in rival Sabeco.

    Carlsberg, which already owns around 17 percent in Habeco, has been discussing its priority purchase rights with the Vietnamese government, which has delayed the Habeco sale.

    Sabeco, in which the government owns a 90 percent stake, has also seen interest from foreign players such as Dutch brewer Heineken and Japan’s Kirin.

    Vietnam’s Steering Committee for Enterprise Innovation and Development, which oversees the country’s privatization drive, said last month it aimed to “completely resolve problems in strategic cooperation” with Carlsberg, and inform the prime minister about the results by November 15.

    Habeco is still in talks with the Danish company on the stake sale, state-controlled An Ninh Thu Do newspaper quoted Habeco’s deputy chief Vuong Toan as saying.

    The media report also quoted Toan as saying that foreign companies are not allowed to own more than 49 percent of Habeco due to foreign ownership limits.

    Carlsberg said on Friday it would not comment on “rumours.”

    Last month, the company said it held “several constructive meetings with the Vietnamese government to discuss the privatisation process of Habeco.”

    “We now see good progress in these meetings, and will continue these discussions with the Vietnamese government for the next steps,” Carlsberg Chief Executive Cees ’t Hart said at a conference call after its second-quarter earnings on August 16.

  • Microsoft, Bosch replace local CEOs with foreigners in Vietnam

    Microsoft, Bosch replace local CEOs with foreigners in Vietnam

    Bosch’s former Vietnamese CEO is taking charge of Vingroup’s new automobile venture, while Microsoft Vietnam’s ex-chief also has a new job.

    American tech giant Microsoft and German engineering and electronics company Bosch have both assigned new foreign CEOs for their branches in Vietnam following the departures of their long-term Vietnamese executives for “personal reasons”.

    Microsoft Vietnam announced the personnel change last Thursday, saying Aung San Maung from Myanmar has been appointed as its new CEO in Vietnam, a position which had been held by Vu Minh Tri for seven years.

    The group’s communications representative said Tri officially left last month after accepting an offer to work for another company, which has not been identified yet.

    Microsoft entered the Vietnamese market in 1996. Under Tri’s management, the company has become an active investor in local information technology and education development, it said.

    Aung San Maung has been with Microsoft Vietnam since early 2013 as head of its Enterprise and Partner Group. He studied computer science in Canberra and has more than 30 years of experience working at global technology corporations, including IBM.

    Several days ago, Bosch Vietnam also announced that Vo Quang Hue had left his 10-year position as CEO. Guru Mallikarjuna from India, who has been working with the group for 12 years, has been charged with leading the company forward.

    “Hue built a strong foundation for the company in Vietnam, turning it from a representative office into one of the biggest European investors with more than 3,100 employees,” said the company, which entered Vietnam in 1994.

    While Tri’s new workplace has not been revealed, Hue has been appointed deputy CEO of Hanoi-based conglomerate Vingroup, and will take charge of its newly-established automobile venture.

    The private company, which is already a top property developer in Vietnam, has launched the construction of a $1.5 billion factory in the northern city of Hai Phong and is expected to deliver its first cars in two years.

    Hue said the new job will continue his dream of helping Vietnam become an outstanding technology center in Southeast Asia.

    Lees ook:

  • Saigon calls for carpooling service ban to be revoked as city grinds to a halt

    Saigon calls for carpooling service ban to be revoked as city grinds to a halt

    Carpooling services are convenient because they cost less and reduce congestion, but the transport ministry says they put passengers at risk.

    Ho Chi Minh City’s government has asked the Ministry of Transport to overturn a ban on low-cost carpooling services that was issued in June.

    The ministry previously said it would not allow either Grab or Uber to offer their ridesharing services GrabShare and UberPOOL in Vietnam because sharing a car with a stranger puts passengers at risk

    The decision came a month after the two ride-hailing firms rolled out their services in the city.

    If Uber and Grab disobey the rule, they will be fined VND4-6 million ($175-260) per ride, the ministry said.

    But the ministry’s words seem to have been an empty threat because GrabTaxi is still offering the service, and has also asked for the ban to be lifted, local media reported.

    The ministry asked for the city’s opinion in July. In response the city said it said it is difficult to tell if a Grab or Uber driver is offering a ridesharing service, so it’s nearly impossible to stop them.

    It also said carpooling services are convenient for passengers because they cost less, and more importantly, reduce traffic congestion in the city.

    The city has asked the ministry to allow a carpooling service to be piloted for one year so that it can build regulations to manage it.

    As suggested by the city, only cars with less than nine seats will be allowed to operate the service, and each car can only accept two contracts at once. They must also have specific logos to distinguish them from those that do not offer the service.

    HCMC is looking at ways to limit the number of private vehicles entering the city center to ease congestion.

    Official data show that the city’s transport department had licensed 23,820 cars with under nine seats as of June 30 this year.

    By mid May, the city had more than 8 million private vehicles, an increase of 5.8 percent against the same period last year, including 646,400 private automobiles and 7.4 million motorbikes.

    The current number of autos in the city has nearly tripled the limit set for 2020 and is double the ceiling set for 2025.

    At a meeting with local residents in August, Mayor Nguyen Thanh Phong said the city would revisit a plan to change school and office hours in an attempt to stagger the amount of traffic hitting the city’s streets during rush hours.

    Research conducted by Associate Professor Pham Xuan Mai from the Ho Chi Minh City University of Technology released in March last year found that traffic congestion costs the southern metropolis more than VND18.3 trillion ($820 million) every year.

  • Old Navy Vietnam opens second store

    Old Navy Vietnam opens second store

    Old Navy Vietnam has opened its first store in Hanoi, three months after its debut in the country.

    The 655sqm store is located in Vincom Nguyen Chi Thanh and offers collections for men, women, kids and babies.

    Melissa Fehlman, GM of Old Navy Vietnam, said the brand aims to open more stores throughout Vietnam in coming years, with Ho Chi Minh City’s second shop scheduled this month.

    Acknowledging that Vietnamese customers are trendy, Old Navy commits to refreshing 70-80 per cent of its products every three months, alongside core, long-term lines such as denim wear.

    Old Navy came to Vietnam under a franchise agreement between Gap Inc and Vietnam IPP’s subsidiaries ACFC and CMFC, which also hold the Gap and Banana Republic franchises in Vietnam.

    The nation’s fashion market is booming, buoyed by the recent arrival of international brands, including Pull&Bear and Stradivarius on September 1.

    H&M opens its first store in Ho Chi Minh City on September 9 and Zara will open its first Hanoi store next month.

    Lees ook:

  • Vietnamese retailers look to foreign retail markets

    Vietnamese retailers look to foreign retail markets

     

    In late June, The Gioi Di Dong JSC, which owns the largest mobile phone distribution chain in Vietnam, opened its first shop in Phnom Penh, Cambodia. The shop in Cambodia is named BigPhone, but it has a brand identity like The Gioi Di Dong shops in Vietnam.

    The Gioi Di Dong hopes it can earn $100,000 a month from the first shop, and plans to open 10-15 shops in Cambodia this year.

    A senior executive of Pico, a home appliance distribution chain, in early 2016 told the press that the chain was considering penetrating markets like Myanmar, Laos and Cambodia. Of the neighboring markets, Myanmar is the first choice because of favorable conditions of the market: it is easy to find retail premises, and there is less competition.

    Nguyen Ngoc Hoa, when he was chair of Saigon Co-op, affirmed the importance of foreign markets for Saigon Co-op, saying that the retail chain targets Laos and Cambodia for its plan to expand the network.

    “The most important thing in implementing the expansion plan is that Saigon Co-op find reliable partners in doing business overseas,” he said.

    A senior executive of Pico said he can see that there would be both economic and non-economic barriers in the Cambodia and Myanmar markets. He said it would take time to learn about the consumption habits, local culture, the laws and economic factors of the target markets.

    Ho Viet Dong, CEO of The Gioi Di Dong in Cambodia, said though the retail chain has good relations with mobile phone manufacturers, it still faces difficulties in doing business in Cambodia.

    “The mobile phone market here is very complicated,” he said. “Besides, the training of the labor force for long-term business plan also needs consideration.”

    Meanwhile, according to Saigon Co-op’s CEO Nguyen Thanh Nhan, the plan to open a supermarket in Cambodia has been delayed because of the change of the Cambodian partner.

     

    Lees ook:

    Lees ook:

  • Toyota recalls 20,000 cars in Vietnam due to faulty airbags

    Toyota recalls 20,000 cars in Vietnam due to faulty airbags

    The airbags produced by Japanese manufacturer Takata have been linked to 17 deaths worldwide.

    Toyota Vietnam announced the recall of 20,000 cars this week to replace airbags produced by Japanese firm Takata.

    The Japanese auto maker will recall 18,138 of its Vios models assembled in Vietnam between 2009 and 2012, and 1,877 Yaris units imported into the country during the same period.

    The move is part of a worldwide recall of Takata products.

    Airbag-manufacturer Takata has suffered massive losses due to faulty airbags that have been linked to at least 17 deaths worldwide.

    The airbags’ inflators can explode with excessive force and blow a metal canister apart, sending shrapnel into the car.

    Toyota Vietnam said it will replace the airbags free of charge.

    No accidents related to the airbags have been recorded in Vietnam.

    Lees ook:

    Lees ook:

  • Bitcoin rush: Miners on the rise with Vietnam set to regulate virtual currencies

    Bitcoin rush: Miners on the rise with Vietnam set to regulate virtual currencies

    The cryptocurrency reached an all time high of $4,700 this week, so if you’ve got a head for numbers…The demand for hardware to mine Bitcoins in Vietnam is on the rise following a government decision to develop a legal framework to manage digital currencies.

    Assigned ministries will have until the end of next year to complete the legislation, while tax policies for cryptocurrencies must be finalized by June 2019.

    As for now, Bitcoins remain illegal in Vietnam, according to the central bank. But that does not make the virtual currency any less attractive, and Vietnamese people have already started mining.

    The process of mining Bitcoins involves miners solving complex mathematical problems, and the reward is more Bitcoins generated and awarded to them.

    The participant who solves the puzzle first gets to place the next block on the block chain, a public ledger that records all Bitcoin transactions, eliminating the need for a third party to process payments, and claim the rewards.

    Miners verify transactions and prevent fraud, so more miners equals faster, more reliable and more secure transactions. According to current Bitcoin protocol, 21 million is the cap and no more will be mined after that number has been reached.

    Bitcoin has quadrupled in value since early this year, hitting a record high of more than $4,700 on Tuesday.

    Hardware for mining Bitcoins is now on sale on different sites in Vietnam for VND30-60 million ($1,300-2,600) per system. Each system usually has six to eight graphics cards.

    Two months ago, computer component providers in Vietnam started running out of graphics cards due to the increasing demand for Bitcoin hardware.

    Hai, the owner of a computer store in Hanoi’s Hai Ba Trung District, said he has earned up to VND200 million in revenue this month from selling hardware to Bitcoin miners.

    However, not many miners have been successful because Bitcoin mining is still a new concept in Vietnam, not to mention that the currency is not yet popular or legal.

    “Many of my customers do not understand how to mine for Bitcoins, so they have called it a day and sold the hardware back to me. Several others are leasing their kit out to new prospectors.”

    Miners are also facing fiercer competition and higher input costs. The average miner has to spend more than VND2 million each month on electricity, and the equipment can easily break because it has to run around the clock.

    Financial expert Nguyen Tri Hieu said investing in Bitcoins at this time is a bold move because miners may face legal action or risk going broke as it is possible that the latest price rise in Bitcoins is a speculative bubble.

    He said it would be better if miners had got involved when Bitcoin first appeared in 2009 to guarantee profits.

    In late May, nearly $4 billion was wiped off of the value of Bitcoin in just four days after a correction that saw the cryptocurrency’s price fall almost 19 percent to $2,260.

    The central bank has warned organizations and individuals in Vietnam not to invest in Bitcoin or conduct transactions in the currency, saying they would be taking a huge risk with no legal protection.

    Lees ook:

    Lees ook:

  • Vietnam in talks to acquire rights to Finland’s education programs

    Vietnam in talks to acquire rights to Finland’s education programs

    Finnish high schools will also open their doors to students in Hanoi and Ho Chi Minh City in the near future.

    Education officials from Vietnam are in Finland to learn about the Scandinavian country’s education programs from elementary to undergraduate level.

    A delegation led by Minister of Education Phung Xuan Nha held talks with their Finnish counterparts on Monday about acquiring the rights to publish Finnish educational material in a variety of subjects, local media reported.

    During the meeting, Vietnamese universities, high schools and their partners signed 18 memorandums of understanding on education transfer.

    They also agreed on plans to open a Finnish high school in Hanoi to add to the one in Ho Chi Minh City that will open next year.

    Finland has one of the most successful education systems in the world, which focuses on early education and encourages research and experiment.

    The country is usually one of the best performers among developed countries on the Program for International Student Assessment (PISA) report, a guide used to measure education systems around the world.

    Its students ranked 12 out of 72 economies in the latest test results released last December, a drop compared to its dominance in 2000, 2003 and 2006.

    Vietnam ranked 21st last year.

    Lees ook:

    Lees ook:

  • Vietnam Airlines and Garuda agree partnership

    Vietnam Airlines and Garuda agree partnership

    Asian carriers Vietnam Airlines and Garuda Indonesia have agreed to an extended partnership including more codeshares and working together on MRO (maintenance, repair and operations) operations.

    The CEOs of the two Skyteam members signed a memorandum of understanding (MOU) to work more closely together during an event in Indonesia.

    As part of the deal, the carriers will extend their existing codeshare agreement on to additional routes including Hanoi-Ho Chi Minh City, Hanoi/Ho Chi Minh City-Singapore, Singapore-Jakarta/Bali and Jakarta-Bali.

    Pahala Mansury, CEO of Garuda Indonesia said: “We are pleased to announce this partnership with Vietnam Airlines which extends our network even further within the south-east Asia.

    “Vietnam is an important market for Indonesia and through this partnership we can offer increased travel options for the increasing number of passengers travelling between the two countries.”

    Vietnam Airlines CEO Duong Tri Thanh added: “This MOU takes our co-operation further in the direction of a solid and mutually beneficial partnership, helping both airlines achieve the vast potential of the market.”

    Lees ook:

    Lees ook:

  • Vietnamese shoppers no longer the world’s thriftiest

    Vietnamese shoppers no longer the world’s thriftiest

    Consumer spending seems to be on the rise with less people interested in saving. Vietnamese consumers have just lost their crown as the world’s most avid savers to penny-pinching shoppers in Hong Kong after three years reigning supreme, according to the latest report on consumer confidence conducted by Nielsen, a global information and measurement company.

    During the first half of this year, only 63 percent of surveyed Vietnamese shoppers said they would put their spare cash into savings, comparing to the 76 percent who said they would save during the same period last year.

    Around 80 percent of people in Hong Kong said they chose to save money rather than spending it on leisure activities, figures from Nielsen revealed.

    The Vietnamese are still securing money for the future, but they are also spending more on leisure activities.

    “Vietnamese consumers’ lifestyles are evolving fast and consumers are more willing to spend on big items to upgrade their living,” said Nguyen Huong Quynh, managing director of Nielsen Vietnam. “This reflects their strong desire for a better life.”

    Saving requires a stable job, which is still a top priority for Vietnamese people. For half of the respondents, securing a position at a company is a big deal.

    “A financial guarantee is considered one of the top priorities among Vietnamese consumers,” Quynh added. “Hence, job stability as well as economic prospects directly influence the level of consumer spending. This explains why job stability is important to Vietnamese people.”

    Vietnam’s Consumer Confidence Index in the second quarter this year reached 117, helping the country secure fifth position on the global optimism table. Indexes above 100 indicate optimism.

    This is also a five-year high for the country, suggesting that Vietnamese consumer sentiment is improving. The surge illustrates the optimistic perception of personal finance and immediate spending intention, the report said.

    It should be noted that the index is calculated by Nielsen based on respondents with online access in 60 countries.

  • FJT Logistics ships ocean cruising trimaran from Vietnam to New Zealand

    FJT Logistics ships ocean cruising trimaran from Vietnam to New Zealand

    FJT Logistics, a Pangea member in New Zealand, has shipped a brand-new ocean cruising trimaran constructed from light weight carbon fibre in Cat Lai, Vietnam to Auckland, New Zealand. The Trimaran departed from Tan Cang – Cat Lai port, near Ho Chi Minh city, which is the biggest and most modern container port in Vietnam.

    The Trimaran was secured with a special tailor-made wood support saddle and shrink-wrapped for protection against damages during the whole journey. The packed Trimaran measured 18m long, 4.8m wide and 5.33m high, with a total weight of 10,000kg.

    The boat was stowed under deck on a platform of 8 40’ Flat Racks and departed on 25th July. It was shipped from Vietnam via Kaohsiung Port in Taiwan and finally arrived at Auckland on board M/V OOCL Savannah on 18th August.

    Once the Trimaran arrived to Auckland, FJT Logistics coordinated the lifting and discharging operations as well as the delivery with a low bed truck to Silo Park boat yard, where the boat will be assembled and rigged. After sea trials are completed the ultimate Trimaran will begin cruising in the ocean.

    Lees ook:

  • Vietjet announces Ho Chi Minh City and Jakarta route launch

    Vietjet announces Ho Chi Minh City and Jakarta route launch

    Vietjet today announced the launch of a new international route connecting Ho Chi Minh City with the Indonesian capital of Jakarta. The announcement ceremony was witnessed by high-ranking dignitaries from Vietnam and Indonesia on the official visit of His Excellency Mr. Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam to Indonesia. The new route will meet the increasing demand for travels between the two countries and boost regional trading and integration.

    The Ho Chi Minh City (HCMC)-Jakarta route, a three-hour journey, will operate daily from December 20, 2017. The HCMC-Jakarta flight departs from HCMC at 20:40 and arrives in Jakarta at 23:40 (local time). The return flight takes off at 01:40 (local time) and lands in HCMC at 04:40.

    Mr. Dinh Viet Phuong, Vietjet’s Vice President, said: “Since its inception, Vietjet has been developing friendly and professional flight services in operating key international routes, helping connect Vietnam’s main business and tourism hubs with foreign destinations, including Jakarta. With its mission of making air travel approachable and possible for everyone and building a future in the air, Vietjet’s new route from HCMC to Jakarta will boost ties between these two economic, cultural and financial hubs, thus helping to boost regional trading and integration.”

    Jakarta is famous for its own distinctive multicultural style, amazing cuisine and colorful tourism attractions. It also serves as a gateway to the country, which offers the world “Consistency in Diversity”. The Indonesian archipelago boasts UNESCO-listed world heritages such as Borobudur and Prambanan, Komodo National Park, Ujung Kulon National Park and Sumatra rainforest and, of course, breathtaking ‘paradise’ islands, such as Bali, one of the world’s most incredible beach destinations.

    In turn, Ho Chi Minh City will be the country’s doors to Indonesian visitors travelling in Vietnam, which also boasts UNESCO-listed world heritages and incredible beaches. The capital city of Hanoi is an incredible historic city with a rich culture and unique atmosphere. Other cities and destinations include the former imperial capital, Hue, a wonderful, romantic destination, the city of Da Nang, where there are stunning beaches and the wonderland of Quang Binh province, home to the largest caves in the world. As the country’s largest economic, financial and modern tourism hub, Ho Chi Minh City is a destination in its own right, one that visitors will find is as sweet and charming as it is dynamic and entertaining.

    With its high-quality services, special low-fare tickets and diverse ticket classes, Vietjet offers its passengers enjoyable flights with a dynamic and friendly flight crew, comfy seats, delicious hot meals, special surprises as part of the inflight activities and amazing ticket fares during the daily “12 pm, It’s time to Vietjet” promotion.

    Lees ook:

    Lees ook:

    Lees ook: