The State will have breakthroughs in the reform of legal regulations and business investment conditions for the domestic real estate market this year, according to experts.– Photo batdongsanexpress.vn The State will have breakthroughs in the reform of legal regulations and business investment conditions for the domestic real estate market this year, according to experts. The Ministry of Construction will prioritise completion of the reforms. Nguyen Manh Khoi, deputy director of the Ministry of Construction’s Department of Housing Management and Real Estate Market, said this at a seminar on property business held by the Vneconomy newspaper and the Viet Nam Chamber of Commerce and Industry earlier this week. The ministry is planning to submit a draft resolution on reforming administrative procedures to the Government in the second quarter of this year, Khoi said. In the draft resolution, it’s expected to create more favourable conditions for economic sectors, … [Read more...] about State dials up reforms of property market rules
Markets
Hội An gets 3rd night market
Graceful: The Pagoda Bridge in Hội An. — VNS File Photo.Viet Nam News QUẢNG NAM — A new night market has been set up in the ancient town of Hội An to cater to the shopping needs of visitors. Nguyễn Văn Sơn, deputy chairman of the city People’s Committee, said the market on Trần Quý Cáp, Bạch Đằng, Tiểu La and Hoàng Văn Thụ streets has 56 shops selling handicrafts. Open from 6pm to 11pm daily, it is the city’s third night market after others selling souvenirs on Nguyễn Hoàng Street facing the iconic Cầu Pagoda and food on Công Nữ Ngọc Hoa Street along the Hoài River. The opening of night markets is also meant to prevent illegal encroachment of pavements by vendors to restore the city’s beautiful tourism image. The renowned UK-based travel site Rough Guides recently put Hội An City in the list of the top 10 intriguing … [Read more...] about Hội An gets 3rd night market
Domestic fashion brands seek foothold in $3.5 billion market
VietNamNet Bridge - Domestic brands are expected to have opportunities to prosper in the local market amid the massive arrivals of foreign brands. The Vietnamese fashion market is worth $3.5 billion Pessimistic forecasts have been given about the fate of Vietnamese fashion brands which have to compete with powerful brands like Uniqlo, Zara and H&M. Vietnamese customers spend more money on foreign branded goods. The value of the Vietnamese fashion market (clothing & footwear) is estimated at $3.8 billion in 2018, of which expenditures on clothing are $3.5 billion. Vietnam, which mostly does outsourcing for foreign partners, has never been considered a power in the fashion industry. However, analysts believe that Vietnamese brands will not surrender to foreign brands in the home market because they have certain advantages. RELATED NEWS How are Vietnamese fashion brands faring? How attractive is Vietnam’s fashion market for foreign retailers? Mai Nam … [Read more...] about Domestic fashion brands seek foothold in $3.5 billion market
Convenience stores battle for market share
VietNamNet Bridge - Retailers have been warned that they cannot expect to take back investment capital in convenience stores soon as the competition is fierce and the number of stores is still on the rise. Convenience stores battle for market share GS25 from South Korea, which holds 30 percent of the retail market in that country, has announced it will set foot in Vietnam by the end of the year and open the first store in HCMC and 2,500 stores in the next 10 years. Retailers have been warned that they cannot expect to take back investment capital in convenience stores soon as the competition is fierce and the number of stores is still on the rise. According to Nguyen Xuan Quang, the manager, Toromart will be expanded in HCMC first before it reaches to Vinh City. It is expected that 200 Toromarts will be opened by the end of 2018. RELATED NEWS Vietnam’s retail market: convenience stores mushroom Convenience stores aid growth of Vietnam’s retail industry … [Read more...] about Convenience stores battle for market share
PNJ strengthens position in jewelry market
PNJ strengthens position in jewelry market HCMC – After a successful 2017 with pre-tax profit rising by 54%, Phu Nhuan Jewelry Joint Stock Company (PNJ) will celebrate its 30th anniversary this year, further expanding the retail system and promoting e-commerce activities. A profitable year According to 2017 business results of PNJ, the company’s consolidated pre-tax profit was VND908.11 billion, up 54% year-on-year and equivalent to 121% of the full-year plan. PNJ saw total revenue picking up 28% to VND11.049 trillion, some VND5.780 trillion of which was retail revenue (up 39%). Its gross profit neared VND1.912 trillion, a 36% rise against the previous year. Focusing on the retail system is attributed to PNJ’s high profit. In particular, the company opened 50 shops last year, bringing the total number of shops to almost 270 across the country. Expanding retail system Talking about the development strategy for the coming years, vice chairman of PNJ Le Tri Thong … [Read more...] about PNJ strengthens position in jewelry market