WinCommerce, a member of Masan Group, on January 15 held a ceremony to announce its change of the brand name of VinMart retail system into WinMart.

The increasing presence of foreign giants has put great pressure on domestic retailers.

The COVID-19 pandemic, with its complicated developments, has given a boost to e-commerce, with non-cash payments accounting for 70% of total retail transactions in Vietnam last year.

Large retail firms are to gain even more market share this year as smaller competitors have been forced to exit the game after prolonged lockdowns and mobility restrictions during recent years, said industry experts.

Foreign investors poured US$9 billion into Vietnamese retail and wholesale markets between January and November, accounting for 2.2% of the country’s total capital, the Ministry of Planning and Investment said.

The retail prices of oil and petrol were revised up starting from 3pm on December 25 after going down in the two consecutive reviews by the Ministry of Industry and Trade and the Ministry of Finance.

Vietnam’s e-commerce sector is looking back on a year full of booming business, fuelled not only by increasing demand but also by technological innovations that foster more interaction between buyers and sellers.

The Hanoi Centre for Investment, Trade, and Tourism Promotion (HPA) and AEON Vietnam have coordinated to organise two big agricultural trade fairs in December with the aim to help farm produce businesses approach distribution systems abroad.

VOV.VN - Featuring a large market size and an open domestic market development policy, the local retail market has developed into a magnet to hordes of foreign investors, according to industry insiders.

VOV.VN - The retail prices of oil and petrol were adjusted down as of 3 p.m. on December 10 following a decision made by the ministries of Finance, and Industry and Trade.