Retail News CRM

Tag: Vietnam

  • Amazon, Alibaba demand more Vietnam-made home décor

    Amazon, Alibaba demand more Vietnam-made home décor

    As purchasing power for home decorations and compact furniture on ecommerce platforms Amazon and Alibaba increases, opportunities are opening up for Vietnamese businesses to sell made-in Vietnam products.

    From grass brooms and water hyacinth baskets to compact chairs and shelves, “Made in Vietnam” home decoration products have been attracting customers on U.S. ecommerce platform Amazon.

    An $81 black painted bar stool from Linon Home Decor is labeled as an “Amazon’s Choice,” meaning it is selling well, of high quality, and can be delivered right away. Over 50 of the items were sold the past month.

    Selling garden furniture and wooden planks, BeeFurni’s revenue on this platform in the first 10 months of 2022 increased by 300% compared to 2021.

    The brand’s stools launched in 2018 are priced US$35-50, depending on the size, and have attracted hundreds of customer reviews with an average score of 4.4 out of 5.

    According to Amazon statistics, home decoration and furniture items have experienced outstanding growth in the 2020-2022 period. Even after returning to the office, people still spend a lot of time enjoying their life at home, and online shopping for such products has remained stimulated.

    Last year, “wall decoration, kitchen decoration, bathroom decoration” were the most searched keywords in this category.

    Over the past three years, home and kitchen decor have continuously been some of the best-selling item categories for Vietnamese sellers on Amazon.

    Gijae Seong, managing director of Amazon Global Selling Vietnam, said this is an industry that “has great potential and still has many untapped advantages” for Vietnamese businesses.

    With about 1,500 craft villages, abundant raw material supplies and supply chain advantages, Vietnamese furniture and decoration manufacturers possess immense potential on the international market, according to Amazon.

    Chinese online ecommerce platform Alibaba said home and gardening products is one of the three most popular Vietnamese product categories on their wholesale platform.

    In the last three months, potential buyers for Vietnamese products in this category have increased 64% year-on-year.

    The most sought-after items have been dining sets, kitchenware, home textiles and affordable, practical storage, according to Alibaba.

    Specializing in selling wrought iron products such as doors, fences and railings, Nguyen Phong Metal, a small and medium-sized enterprise, has opened a large export channel on this platform, according to Sales Director Pham Nguyen Le Uyen.

    Their first order on Alibaba three years ago was worth $45,000. Since then, the company’s export revenue on Alibaba has doubled domestic sales.

    Both platforms highly appreciate Vietnam because it is one of the countries that owns a large number of skilled craftsmen: about 7.4 million workers. The country’s traditional craft villages have rich experience and a long history, and they create unique products.

    To be successful on the global market, there must be a harmonious combination between what Vietnam has and what the international market expects, according to Amazon.

    For example, with products made from rattan, bamboo, and sedge, manufacturers must improve the material processing because these goods are easily affected by factors such as humidity and insects.

    In the first seven months of the year, Vietnam’s export turnover on wood and wood products was down 26.2% year-on-year at US$7.21 billion.

    The U.S., Japan, China, the EU and South Korea continued to be the main export markets for Vietnamese timber and forest products.

    Total export value to the five markets during the January-July period was estimated at $5.44 billion, accounting for 89% of the country’s total export value.

  • Vietnam’s coconut export to reach $1B in 2025

    Vietnam’s coconut export to reach $1B in 2025

    Vietnam’s coconut export is expected to reach US$1 billion in 2025 after the U.S. and China agree to allow Vietnamese coconuts to enter the two markets, according to the Vietnam Coconut Association.

    As the U.S. is about to open the market for Vietnamese coconuts and China allows official coconut import, local businesses are trying to develop raw material areas, apply for growing areas codes, and register to build organic material zones to meet the needs of the world market.

    At the end of 2022, coconut export turnover was over $700 million. But based on the momentum of the U.S. and China agreeing to import Vietnamese coconuts, around the end of 2024 and early 2025, coconut export turnover will be up to $1 billion.

    In 2021, the fruit was listed as one of Vietnam’s key industrial crops.

    About 20 large enterprises in the country have exported coconuts to the world. Up to 35 countries and territories are Vietnam’s importers.

    Lees ook:

    Lees ook:

  • Record number of new firms seen in eight months

    Record number of new firms seen in eight months

    A record number of 103,658 new firms were established in the first eight months of this year, a rise of 2.3% year on year, the Ministry of Planning and Investment (MPI) reported.

    In August alone, the country saw more than 14,000 newly established businesses, up 17.9% year on year. However, the number of firms returning to the market in the month dropped 3.1% year on year and 10.9% month on month.

    In the January-August period, 149,400 enterprises newly joined and returned to the market, a slight drop of 0.03% year on year, but 1.2 times higher than the average figure recorded in the period from 2018-2022, the ministry said.

    The education sector saw the highest rise in the number of new firms at 35%, followed by the healthcare sector at 18.9%, and employment services, tourism, machinery and equipment rental and other supporting services 16.3%.

    However, the total registered capital of the newly established firms fell 14.7% year on year to VND969.61 trillion (over $40.2 billion).

    Meanwhile, in the reviewed period, 124,684 businesses withdrew from the market, up 19.5% year on year, including 71,833 businesses halting operations, 41,064 logging dissolving requests and 11,787 others dissolved.

    In order to support business development, Deputy Minister of MPI Tran Quoc Phuong said that along with applying flexible, active and effective monetary and fiscal policies and measures to remove difficulties for business and production activities, the ministry will propose adjustments and supplementations to some relevant mechanisms and policies.

    Lees ook:

    Lees ook:

  • Vietnam central bank governor earns ‘A+’ in Global Finance report

    Vietnam central bank governor earns ‘A+’ in Global Finance report

    Global Finance magazine has given Nguyen Thi Hong, Vietnam’s first female central bank governor, an A+ on its 2023 Central Banker Report Cards.

    Hong, 55, is one of only three central bank governors in the world that was rated A+ by the U.S.-based magazine.

    The other two were the Reserve Bank of India Governor Shaktikanta Das and Thomas J Jordan, Chairman of the Governing Board of the Swiss National Bank.

    Hong became Governor of the State Bank of Vietnam (SBV), appointed by the legislative National Assembly, in November 2020.

    She holds a master’s degree in Developmental Economics and started working at SBV in 1991, where she held several management positions.

    The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 101 key countries, territories, and districts, including the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States, and the Central Bank of West African States.

    Grades are based on a scale from A to F for success in inflation control, economic growth goals, currency stability and interest rate management, with an “A” representing an excellent performance down through an “F” for outright failure.

    The full Central Banker Report Cards 2023 report and grade list will appear in Global Finance’s October issue print editions, as well as online at GFMag.com.

    “Fighting inflation, which has been fueled by pent-up demand and disrupted supply chains, has everyone turning to their central bankers for help,” said Global Finance founder and editorial director Joseph Giarraputo.

    Governors that earned an A grade included Brazil’s Roberto Campos Neto, Israel’s Amir Yaron, Harvesh Kumar Seegolam of Mauritius, New Zealand’s Adrian Orr, Paraguay’s Jose Cantero Sienra, Julio Velarde of Peru, Chin-Long Yang of Taiwan, and Uruguay’s Diego Labat.

    Lees ook:

    Lees ook:

  • RongViet Securities meet 75% of profit target in H1

    RongViet Securities meet 75% of profit target in H1

    Total consolidated revenue of RongViet Securities in the first six months of 2023 reached VND352.1 billion.

    The recovery of the market helped the company’s investment portfolio revert to VND186.3 billion from the depreciated valuation expense, thereby reducing the total cost to VND146.8 billion.

    As a result, RongViet recorded a consolidated pre-tax profit of VND205.3 billion and a net profit of VND160 billion, completing 75.8% and 73.9% of the full-year plan, respectively.

    As of June 30, the total assets on the consolidated financial statements reached more than VND4.481 trillion, and equity reached VND2.248 trillion, officially erasing all accumulated losses at the end of 2022.

    VDS stock of RongViet has been taken out of warning status by the HOSE since Aug. 17.

    RongViet’s earnings per share (EPS) in the first six months of 2023 reached VND761.

    Return on assets and return on equity in the first six months reached 3.7% and 7.5%, respectively, much higher than the industry average.

    With these results, the VDS stock price has doubled compared to the beginning of the year, bringing the market capitalization of RongViet to more than VND3.2 trillion.

    According to RongViet, with the direction from the beginning of the year to adapt to the new age and advance at a solid pace, it has taken firm steps to be more confident in H2.

    With the stock market having been more positive recently, the company expects to soon exceed the target of VND270.8 billion in pre-tax profit (consolidated) as approved by the General Meeting of Shareholders.

    RongViet’s main goal in H2 is to continue stabilizing and developing staff, promoting development and client services based on maximizing the advantages of the financial-investment products and services, using RongViet technology to bring the best investment efficiency and client satisfaction.

    Although investment banking activities are still facing many difficulties due to the general market situation, the company’s representative said that they would strive to accompany clients to accelerate the progress of M&A projects, trying to close key deals in 2023.

    At the same time, it will closely and regularly coordinate to promptly support clients in solving difficulties and problems in corporate financial consulting and capital mobilization activities.

    As the bond market is still facing many difficulties and losing investor confidence, RongViet is one of the few companies that can fully meet the new regulations on private bond issuance as well as affirm the trust of investors to continue to successfully issue new bonds from Q4 of 2022 until now.

    The company said that it would ensure full payment of bond principal and interest upon maturity and fully comply with legal regulations on information disclosure, bond offerings to investors, and periodic reporting obligations for state management agencies.

    In terms of the ratio of total debt to equity as of June 30, RongViet maintained a very safe ratio (by a factor of one) and was much lower than the maximum of five times stipulated by the Ministry of Finance.

    After successfully implementing the issuance in March with a total actual issuance value of VND311.1 billion, in June, the company continued to offer the second batch of bonds of the year worth VND700 billion.

    Thanks to the trust and support of clients, domestic and foreign investors, and the reputation that has been affirmed for many years, the progress of the second batch of bonds of RongViet is positive and has been completed at more than 86% of the expected issuance value in less than a month.

    With the vision of becoming one of the leading, modern, and most effective financial institutions in Vietnam, RongViet has built and started implementing a comprehensive digital transformation strategy for 2021, with four pillars: optimize and build excellent operating systems; enhance client experiences; develop new platforms and business models; and build strong IT infrastructure and security.

    Over the past few years, RongViet has continuously improved the financial-investment ecosystem and launched many digital platforms to bring new values to investors.

    Prominent products and services include eduDragon, an online stock investment learning system; smartDragon, an investment analysis platform; and iBot, a virtual investment assistant on Telegram.

    In early 2023, RongViet launched the brand new iDragon Pro trading app, bringing superior securities trading experiences to clients.

    At the end of July 2023, the U.K.-based Global Banking & Finance Review honored iDragon Pro as the Best Trading App Vietnam 2023.

    Also in July 2023, it officially put into operation the Data Warehouse, a comprehensive data platform, after more than 11 months of efforts by the company’s staff with the consultancy of experts from CMC Group and IBM Vietnam.

    The project is an important milestone that helps to improve the efficiency of management and use of data at RongViet as a foundation to continue to successfully implement digital transformation projects such as human resource management, customer relationship management, and a comprehensive reporting system.

    With great advances in the application of technology to perfect the ecosystem of financial-investing products and services in many utilities throughout the investment journey of clients, the Vietnam Wealth Advisors Summit 2023 named RongViet as the Digitalization Product of the Year and honored its contribution to financial services development.

    With the motto Creating a Prosperous Future, RongViet aspires to bring prosperity not only to clients, partners, and shareholders but also to employees, the community, and society.

    This is evidenced by RongViet being honored as one of the”Best Companies to Work for in Asia” for two consecutive years in 2022 and 2023 at the HR Asia Awards. This award recognizes efforts to build a humane, dynamic, and creative working environment where members share culture, vision, and career development.

    Besides building effective business activities, the company also wishes to share its development results with the community and society through meaningful and practical programs and activities.

    Rong Viet has maintained annual charity programs for the past 12 years, such as Accompanying to School: Realizing Dreams to Support Poor Students and Sharing Love to Help Difficult Circumstances.

    To contribute to building and developing Vietnam’s financial market and foster the young generation, RongViet plans to launch RongViet Invest, a knowledge and real-world investment competition for university students nationwide, in Q3.

    The goal of the program is to become an annual playground where students across the country can learn, direct their careers, and experience being a real investor in the stock market.

    Thereby, it aspires to contribute to building a new generation of investors with knowledge, experience, and bravery to join hands in building a sustainable Vietnamese stock market.

    Lees ook:

    Lees ook:

  • Vietnamese firms look to Thailand amid export challenges

    Vietnamese firms look to Thailand amid export challenges

    Many Vietnamese companies are looking to the Thai market to export their products this year as demand declines in the U.S. and EU.

    Puripan Bunnag, senior vice president of the Thailand Convention and Exhibition Bureau, said in the first half of this year around 35,000 people from Vietnam have visited Thai exhibitions and fairs to explore opportunities to sell their products, a 20-30% increase from last year.

    Vietnam’s exports to Thailand have risen by 2% year-on-year this year to US$4.3 billion. Some main products included crude oil, metals, machinery, vegetables, and seafood.

    Bunnag said Thai consumers like Vietnamese agriculture produce.

    Nguyen Huu Nam, deputy head of the Vietnam Federation of Commerce and Industry in HCMC, said exports have been plagued by difficulties this year, including a decline in orders from the U.S. and the E.U., two key markets.

    Large Thai companies such as Central Retail, CP and SGC have been helping Vietnamese businesses export to Thailand, he said.

    Some fruits such as mango, longan and lychee have been sold in Central Retail’s supermarkets in Thailand at four or five times higher prices than in Vietnam, he added.

    Central Group has also recently partnered with 19 Vietnamese companies including King Coffee, Trung Nguyen Group, Napoli Coffee, Bibica (snacks), and Acecook and Vifon (instant noodles) to sell their products in Thailand.

    Napoli Coffee CEO Nguyen Duc Hung said that there are great opportunities for Vietnamese businesses to partner with Thai firms when they attend fairs in that country.

    “We have learned a lot of marketing and packaging techniques from Thai firms to attract international buyers.”

    Vietnam runs a trade deficit with Thailand. Last year it exported $7.5 billion worth of goods to Thailand but imports topped $14.1 billion.

    Industry insiders said Thailand protects its own businesses, making it hard for Vietnamese products to find their way there.

    Lees ook:

    Lees ook:

  • Prices of Vietnam’s exported rice highest in the world

    Prices of Vietnam’s exported rice highest in the world

    Prices of Vietnam’s exported rice are still the highest in the world, with that of 5% broken rice reaching 638 USD per tonne, and 25% broken rice $623 per tonne, according to the Vietnam Food Associaion.

    Meanwhile, Thailand’s 5% broken rice is sold at $628 per tonne, and that of Pakistan at 598 USD a tonne.

    In the Mekong Delta – the largest rice granary of Vietnam, the price of paddy rice remains at an unprecedented high level in many localities, helping farmers achieve good profits.

    In July, the United Nations Food and Agriculture Organisation (FAO)’s rice price index rose to its highest level in nearly 12 years. The move was due to a spike in prices in key rice exporting countries after India imposed export restrictions.

    Recently, the Vietnamese Ministry of Industry and Trade announced the list of 210 businesses that are eligible to export rice.

    According to the ministry, in the first seven months of this year, Vietnam exported 4.83 million tonnes of rice. The country plans to export about 2.67 million tonnes in the remaining five months of the year.

    Lees ook:

  • Parking an expensive headache for Hanoi apartment owners

    Parking an expensive headache for Hanoi apartment owners

    Hanoi apartment owners are spending up to hundreds of million dong (VND100 million = $4,200) on parking spots in their building due to insufficient space to accommodate increasing car ownership.

    For the first time in two years, Phuong Linh in Hanoi’s Ha Dong District was able to park her car in the basement of her own apartment building after paying VND20 million to a neighbor who just moved away.

    Due to the limited space in the basement, Linh has been parking her car in other parking lots around her neighborhood ever since she moved to the building.

    Only car owners who registered early can park their vehicles in the basement, and once they move, other residents like Linh rush to purchase the right to park in the spaces they leave vacant.

    This means that on top of the VND20 million, she still has to pay monthly parking fees.

    “I have to pay a lot, but I consider myself lucky. There are 30 other residents like me waiting for the next empty parking slot.”

    Stories like Linh’s have become increasingly popular in Hanoi, a city of 8.4 million where the number of both condominiums and cars has been surging in recent years.

    Manh Dung in Nam Tu Liem District last month bought an SUV, but he only found out after the purchase that there were no car parking spots left in his building.

    Nearly 100 residents have queued for the next empty slot, he said.

    Using connections, Dung managed to contact one of the building managers and secured a parking slot for VND40 million. The deal was unofficial.

    The manager said that if he moves away in the future, he can sell the slot for almost the same price, as there will always be demand for parking slots in the building.

    “I paid right away. A basement parking space is valuable, especially when it rains.”

    Many developers have set aside auto parking areas in the basement of their buildings, but the increasing number of cars in the city has made the limited number of parking slots a treasured real estate.

    By February this year Hanoi had over one million cars, up 36% from around the same period in 2019. This means that one in every eight Hanoi residents owns a car.

    Some developers, therefore, charge big bucks for parking slots.

    A developer of a 40-floor condominium in Ha Dong District earlier this year charged VND220 million for a 20-year parking space rental contract.

    It also offered to sell a parking slot permanently at VND400 million for a sedan, and nearly VND500 million for an SUV.

    Due to the high price tag, some residents at the building have no choice but to find outdoor neighborhood parking lots and pay around VND1.2 million a month per vehicle.

    In July, a developer of a 30-floor building in Thanh Xuan District charged VND60 million upfront for a five-year car parking slot. Residents protested the policy, saying that they did not want to pay such a hefty sum all at once.

    The developer also offered to lease a parking slot for VND200 million over 40 years. This means that a resident of a 70-square-meter apartment in the building would have to pay 10% of their apartment price for parking.

    Nguyen Viet Huy, a lecturer at Hanoi University of Construction, said that the competition for car parking space at condominiums has become more popular in Hanoi in recent years.

    There are legal requirements on how much parking space is needed at every condo project, but the figures are not backed by any scientific study, he added.

    Dao Ngoc Nghiem, deputy chairman of Hanoi Urban Development Planning Association, said that many developers who built their projects 10 years ago did not expect the number of immigrants in Hanoi would rise as fast at around 1.4% annually.

    “Parking space therefore have become one of the top criteria in apartment purchasing these days.”

    The lack of public parking spaces also contributes to the issue, as only 10% of parking demand in Hanoi has been met, he said, adding that more elevated and underground parking lots should be built.

    Lees ook:

    Lees ook:

  • Vegetable, fruit exports hit new high

    Vegetable, fruit exports hit new high

    Vegetable and fruit exports increased by nearly 56% year-on-year in the first eight months to a record US$3.5 billion worth, according to Vietnam Customs.

    Increase in Chinese demand from was a major reason for the jump.

    Several other countries in the region, hit by droughts and floods, also increased their imports, Dang Phuc Nguyen, general secretary of the Vietnam Fruits and Vegetable Association, said.

    Durian accounted for 30% of the export value.

    Durian prices are expected to rise in September as supply has declined in other Southeast Asian countries. Vinafruit expects exports of the fruit to be worth $1.5 billion this year.

    Coconut also has potential for higher exports to China and the U.S., with the latter recently allowing imports of husked nuts from Vietnam.

  • Global rice crisis nothing like in 2008

    Global rice crisis nothing like in 2008

    After India banned rice exports, prices of the grain have shot up but are unlikely to top the US$1,000 per ton levels reached in 2008 in the current scenario.

    India prohibited the export of non-Basmati rice varieties in late July, driving up global prices.

    The export prices of Vietnam’s 5% broken rice jumped by $25 per ton.

    In some Vietnamese rice-growing areas, traders have been scrambling to buy the grain to fulfill contracts they have signed, pushing up prices steadily.

    Do Ha Nam, vice president of the Vietnam Food Association, said export prices climbed to $700 per ton on August 10, the highest since 2008.

    On August 17, following reports that India would soon lift the ban, the prices began to edge down again.

    In Vietnam, retail prices jumped by VND3,000-5,000 per kilogram in August to VND18,000-20,000 ($0.76-0.84).

    For many people, the developments are redolent of 2008.

    Vo Tong Xuan, a scientist who created many award-winning rice varieties, said in 2008 export prices reached 100-year highs of more than $1,000 a ton.

    The world faced a food shortage that year.

    The weather was unfavorable, oil prices were high, food reserves were low, and demand was rising in countries such as China and India.

    Xuan said the Vietnamese government at that time ordered exporters not to sign new contracts and capped exports for the year at 4.5 million tons.

    But, worried about the rising prices and low supply, people rushed to buy and hoard rice, but traders refused to sell, waiting for prices to climb further.

    In the event, prices skyrocketed from VND12,000 to VND20,000 per kilogram.

    Xuan said that scenario is unlikely to reoccur even though both times India, which accounts for 40% of the world’s supply, banned rice exports.

    In 2008, global rice reserves fell and demand exceeded supply, he said.

    According to the United Nations Food and Agriculture Organization, Asia’s rice stocks at that time were low, falling from 140 million tons to 60 million tons in 2007 before recovering to 105 million tons a year later.

    At least 37 countries faced a food crisis as prices suddenly increased from $550 to $1,000.

    Xuan said this year global rice stocks have decreased but not significantly.

    India banned exports on July 20, but the latest reports from that country show that rainfall has increased again since the beginning of August and is conducive for sowing the summer-autumn crop.

    Data from the Indian Ministry of Agriculture shows that, as of August 4, 28.3 million hectares had been sown, 3.4% more than a year ago.

    India has 24.6 million tons of rice and 13 million tons of paddy in reserve, three times target set by the government.

    India is therefore expected to lift the ban soon, and this would quickly bring rice prices down.

    Nam said the world market would adjust soon. In 2008 global stocks had been the lowest in 30 years, but now they are only marginally lower than last year, he said.

    Global production is forecast to increase by 2% to 520 million tons.

    Thailand and Vietnam, the world’s second and third largest exporters, are encouraging exports.

    “Supply from these two countries is abundant,” Nam said.

    In Vietnam, the area under autumn-winter rice in the Mekong Delta, Vietnam’s rice basket region, has been increased from 650,000 hectares to 700,000 ha.

    Thailand and China, having learned lessons from 2008, are well prepared this time.

    China, the world’s largest rice consumer, has recovered more than 170,000 hectares of land since 2021 for farming to move toward self-sufficiency in feeding 1.4 billion people.

    Last year, President Xi Jinping called for ensuring there are 120 million hectares of arable land across the country, a number his government considers sufficient to ensure domestic supply.

    China has urged farmers to reduce cultivation of fruits and increase production of food crops, including paddy.

    Analysts expect global rice prices to increase this year, but only to around $600-800 per ton.

    “It is very difficult to reach the $1,000 mark like in 2008,” Xuan said.

    According to Bui Chi Buu, former director of the Institute of Agricultural Science for Southern Vietnam, businesses should take advantage of the opportunity to export the grain and not hoard it.

    “If they hoard in and speculate, businesses are at risk of making losses when India lifts the ban. Rice inventories will surge while the shelf life of rice is only three to six months.”

    Experts said since domestic prices are now higher than global prices, farmers, traders and exporters need to be cautious.

    Minister of Industry and Trade Nguyen Hong Dien recently instructed relevant authorities to inspect businesses and warehouses to monitor supply of rice and prevent speculation and hoarding to keep prices in check.

    This year Vietnam has some 7.1 million hectares under the grain and expects to grow 43 million tons of paddy, equivalent to 27-28 million tons of rice.

    The country exported nearly 4.9 million tons of rice worth more than $2.6 billion in the first seven months of the year, a year-on-year increase of 31% in value.

    Lees ook:

    Lees ook:

    Lees ook:

  • EVN to review electricity prices every three months

    EVN to review electricity prices every three months

    National utility Electricity of Vietnam (EVN) has agreed with a proposal of the Ministry of Industry and Trade to review retail electricity prices every three months to decide whether to make any adjustments.

    If production costs increase by 3-5%, EVN is allowed to raise retail prices accordingly, but it needs to wait at least three months from the last adjustment, according to a draft decision that is being reviewed by government bodies.

    If costs rise by 5-10% the raise must be approved by the Ministry of Industry and Trade, and higher hikes must be decided by the Prime Minister.

    EVN suggested that the cost of electricity transmission includes system management costs after authorities proposed that the National Load Dispatch Center be moved from EVN to the Ministry of Industry and Trade.

    Vietnam in May raised its retail electricity prices by 3% for the first time in four years.

    Analysts said earlier that retail prices were unchanged for a long time and therefore were not updated with changes in production costs.

    Lees ook:

  • Dilmah launches luxury artisanal tea range across Coles stores

    Dilmah launches luxury artisanal tea range across Coles stores

    Sri Lanka’s tea brand Dilmah has launched its luxury artisanal tea collection across 650 Coles supermarkets nationally.

    Dubbed ‘85 Reserve’ – the luxury tea range is sold in tin caddies each consisting of 20 large tea bags.

    It comes with six flavours and herbal infusions, namely Peppermint & Cinnamon, Ceylon Spice Chai, Lychee & Vanilla, Ear Grey & Vanilla, Ceylon Green Tea with Mint, and Royal Ceylon Breakfast – the last three will be available in Coles.

    Dilmah chairman Dilhan C. Fernando said Australians are “among the first in the world” to enjoy the range.

    “In the past six months, we have seen a nearly 60 per cent increase in luxury tea sales on the Dilmah Australia e-commerce website, and we are thrilled to offer the retail shopper this same luxury experience.”

    The full range can be bought online on the Dilmah Website.

    Lees ook:

  • Prime minister asks ministries to support Bamboo Airways

    Prime minister asks ministries to support Bamboo Airways

    Prime Minister Pham Minh Chinh has asked relevant ministries to find solutions to Bamboo Airways’ issues on capital, transfer of shares to new investors, and its fleet expansion.

    The airline has recently faced many difficulties, especially in finance.

    In mid-July, it was rumored Bamboo Airways asked the government for bankruptcy protection, but the private airline denied this.

    In early July, Bamboo Airways sent the prime minister a report on its operation and difficulties.

    Chinh assigned the Ministry of Transport to maintain the airline’s operating conditions to ensure security and safety in civil aviation transport, and the Ministry of Finance to remove difficulties in transferring its shares to new investors.

    He also asked the Ministry of Planning and Investment to quickly appraise a proposal allowing Bamboo Airways to increase its fleet to more than 30 aircraft, because the lengthy process would slow down the airline’s recovery and development as well as reduce its business opportunities.

    In addition, he proposed the State Bank of Vietnam work with the airline to remove financial difficulties, facilitating commercial banks’ contribution of capital to the airline.

    The prime minister requested the ministries and the central bank to report the results of their troubleshooting before September 15.

    Vietnam’s aviation industry has been recovering domestically but is still struggling to reclaim its share of the global market.

    In the first six months, the domestic market increased by 8% compared to pre-pandemic levels, but the international market remained 40% lower.

    Lees ook:

  • Apple may sell iPhone 15 in Vietnam next month

    Apple may sell iPhone 15 in Vietnam next month

    Apple may sell its new iPhone 15 in Vietnam in September, a month earlier than last year as the company considers adjusting the country’s “priority level” from 3 to 2.

    According to a local electronics retail chain, Apple is considering adjusting the priority level of the Vietnamese market from three to two.

    Priority level two means Vietnam retailers could be authorized to sell the new iPhone 15 in its second phase of release.

    Last year, iPhone 14 was launched on September 7 and sold from September 16 in markets with Apple Store shops. The second phase started on September 23 in 20 countries and territories. The product was officially distributed in Vietnam from October 14, the release’s third phase.

    “The final decision has not been made, but it is a remarkable signal that Apple is more interested in Vietnam and iPhone 15 may be sold a few weeks earlier than previous years,” said the chain’s manager.

    The launch date of the iPhone 15 is likely to be announced on September 13 and the new model will be on sale from September 22. These timelines are about one week later than the iPhone 14’s schedule last year, but the sale to second-tier priority markets could still be as early as September.

    Some electronics retail chains said that although Apple wants to raise the Vietnamese market’s priority level, thin iPhone 15 supplies could push the release of the model past its expected date in early October.

    Vietnam does not have an Apple Store like neighboring countries Singapore and Thailand. However, in recent years, the growth of the iPhone’s presence in Vietnam has been significantly faster than in some international markets.

    Vietnam was the sixth country in Southeast Asia to open an Apple Store Online in May, and just two months later became the third country in the region to have Apple Pay.

    According to analysts, Vietnam, Thailand, Indonesia and India are becoming more important to Apple as growth in other key regions is slowing.

    “Apple is further consolidating its presence in emerging markets,” Chiew Le Xuan, an analyst at Singapore-based technology market analyst firm Canalys, said when Apple opened its online store in Vietnam on May 18.

    “In recent months, Apple has also increased their distribution and network of Apple authorized resellers (AARs) in Southeast Asia,” he said.

    During the coming September launch ceremony, in addition to the iPhone 15 series with four models, the Watch Series 9 and Watch Ultra 2 models are likely to be released. New operating system versions such as iOS 17 and PadOS17 will also be officially released.

    Lees ook:

  • EC launches anti-dumping investigation into Vietnam’s steel

    EC launches anti-dumping investigation into Vietnam’s steel

    The European Commission (EC) has announced the launch of anti-dumping and anti-subsidy tax investigations into cold-rolled stainless steel products imported from Vietnam.

    The investigations are being conducted at the request of the European Steel Association (EUROFER), according to the Trade Remedies Authority under the Ministry of Industry and Trade.

    The products concerned by the possible circumvention is flat-rolled products of stainless steel.

    The investigations will be implemented in nine months.

    Interested parties must make themselves known by contacting the EC within 15 days from the announcement, and c

    Lees ook:

    Lees ook: