VOV.VN - Several Australian retail firms are actively working alongside Vietnamese businesses to import fresh longan from the Southeast Asian market in order to meet demand among Australian consumers, according to industry insiders.

Vietnamese have turned the tables to become dominant in the retail market, while many foreign giants have had to leave.

According to General Statistic Office, in the first six months of 2021, total retail sales of goods and services went up 4.9% compared to the same period in 2020 to VND2,463.8 trillion (over US$107 billion), of which goods retail revenue hit VND1,985.4 trillion, up 6.2%.

Deputy Prime Minister Le Van Thanh has asked the Ministry of Industry and Trade to give careful consideration to the proposal of extending the amount of foreign ownership at petrol and oil business to 35%.

VOV.VN - The local retail price of petrol rose by more than VND700 per litre at 3 p.m. on June 26 following the latest price adjustments made by both the Ministry of Industry and Trade and the Ministry of Finance.

VOV.VN - Domestic retail petrol prices rose by more than VND600 per litre at 3 p.m. on June 11 following the latest price adjustments made by both the Ministry of Industry and Trade and the Ministry of Finance.

The rise of local retailers via mergers and acquisitions is expected to balance Vietnam’s retail market, which had been dominated by foreign investors.

Localities in the Mekong Delta have coordinated with relevant agencies and businesses to ensure the COVID-19 outbreak does not disrupt the supply of essential goods or causes price hikes, and plan to carry out food safety inspections to ensure people can shop safely.

The current COVID-19 resurgence has put the brakes on trade, transport and tourism, with all the sectors experiencing declines in May, according to the General Statistics Office (GSO).

The shift toward e-commerce due to the COVID-19 pandemic has brought challenges to Vietnam’s retail property market, according to Savills Vietnam.