The UK-Vietnam Free Trade Agreement (UKVFTA), which officially took effect on May 1, is believed to herald a new era for Vietnamese goods to gain a foothold in a market with strong purchasing power.

High economic growth and strong investment in infrastructure are among the reasons for Northern European businessmen to consider when choosing to invest in Vietnam, according to an article recently published on the site ScandAsia, which covers Nordic news and business promotion in Asia.

The import of automobiles increased dramatically in March, according to figures released by the General Department of Customs (GDC).

While fashion fanatics will welcome the ever-increasing presence of international brands, the domestic consumer base has already lost a significant portion of its purchasing power amid the influence of the global health crisis on the economy, forcing domestic brands to face increased competition with new strategies to retain their business.

VOV.VN - This year’s buildup to Christmas is seeing Vietnamese people tighten their belts and spend less on gifts, as many are struggling financially due to their incomes being hard hit by the COVID-19 impact.

Despite the COVID-19 pandemic’s disruptive impact on retail and consumption, multi-level marketing (MLM) activities have been blossoming, with steady improvements in quality and earning growing trust from customers.

Strong individual purchasing power has been the key to the strong rebound of the Vietnamese stock market this year after it was hit twice by the COVID-19 outbreaks.

VOV.VN - More than 70,000 businesses, mostly small and medium-sized enterprises (SMEs) and individual traders, have either suspended operations or scaled down production during the past nine months due to COVID-19, affecting over 31 million employees.

VOV.VN - A total of 81% of businesses operating in the manufacturing and processing industries believe that production will continue to recover and prosper in the fourth quarter of the year, according to a survey recently conducted by the General Statistics Office (GSO).

VOV.VN - The implementation of the EU-Vietnam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade, along with the EU-Vietnam Free Trade Agreement, are expected to boost the value of local timber in EU market.