Even as the European Union-Vietnam Free Trade Agreement (EVFTA), which will take effect from August 1, 2020, promises to bring about tremendous opportunities for businesses and consumers of both sides.
VOV.VN - The Ministry of Agriculture and Rural Development will host a trade promotion event from June 9 to June 12 in Hanoi to boost the production and consumption of tra fish, also known as pangasius.
VOV.VN - The local fruit sector has been advised to devise a strategic plan in which to competently deal with fierce competition from foreign rivals due to newly-implemented free trade agreements (FTAs) set to boost the strong influx of foreign fruit into the Vietnamese market, according to industry insiders.
VOV.VN - As exports are facing difficulties due to the COVID-19 pandemic, the domestic market of nearly 100 million people is seen as huge potential to rescue local businesses.
VOV.VN - The domestic market is poised to play an important role in getting the nation’s socio-economic development back on track following the easing of the novel coronavirus (COVID-19) pandemic, with local firms needing to pay close attention to developing trends due to the ongoing economic impact caused by the virus.
Enterprises in certain sectors have mapped out plans to increase their presence in the domestic market as most foreign ones have become frozen due to the COVID-19 pandemic.
Instead of mostly making products for export, many food companies are now focusing on the domestic market through locally made products that are competitive with imports.
The Ministry of Industry and Trade has rejected allegations that anti-dumping duties on stainless steel imports have caused a monopoly in the domestic market.
VOV.VN - Farmers in Luc Ngan district in the northern province of Bac Giang are enjoying a bumper harvest and high prices due to the peak lychee harvest season beginning.
National campaign has succeeded in boosting awareness and acceptance of local products and brands, the VCCI says.
Imports and exports of the foreign invested sector in 2018 grew more slowly as a result of problems in the global market, while imports from the domestic sector grew by 16.4 percent, which showed high domestic demand.
German chemical giant BASF has made a firm commitment to supporting the growth of Vietnam. Tanachart Ralsiripong, managing director of BASF Vietnam, spoke to VIR’s Kim Chung about his insights into the market and how BASF will drive business growth in Vietnam.
Cement firms are scaling up efforts to boost exports to tackle the growing oversupply in the domestic market.
As fast food giants Lotteria and KFC report losses despite dominating the domestic market, their attractiveness to customers shows no signs of abating.
VOV.VN - The average price of imported pork, mostly from Poland has plunged to more than VND26,000 per kilo, according to the General Department of Vietnam Customs.
VOV.VN -According to the statistics from the General Department of Customs, Vietnam imported nearly 27,000 tonnes of meat and meat products worth US$38.68 million in June, a decline of 9.5% in volume and 9.2% in value compared to May.
While higher prices and low awareness have limited consumption in the domestic market, one firm is optimistic that this will change.
Vietnam has seen outbound cement sales rocketing by 50% year-on-year over the first six months of 2018 to 15.42 million tons, fulfilling 85.6% of the export target in 2018, the Government news site chinhphu.vn reported.
The domestic market remained stable in May with total revenue from goods retail sales and services exceeding VND354 trillion (US$15.6 billion), up 1.5% against the previous month and 10.4% year-on-year.
VOV.VN - Domestic paper production has been relatively stable from the beginning of the year, with the sector producing more than 1.18 tons of different types of paper over the first four months of 2018, a year-on-year rise of 60%, according to the Vietnam Pulp and Paper Association (VPPA).