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.
Many businesses in the retail sector have been hit hard after they were forced to implement social distancing rules due to the COVID-19 pandemic.
VOV.VN - Local retail businesses should focus on developing their own brands, improving the product quality and diversifying products in order to enhance their competitiveness in the domestic market.
Vietnam’s retail market is growing at an annual rate of 10.9% in the 2013 – 2018 period, while most leading names in the market come from the Republic of Korea (RoK) and Japan, ranging from convenience stores, department stores to e-commerce.
VOV.VN - The Vietnamese Government is ready to offer favourable conditions for investors, said Deputy Prime Minister Trinh Dinh Dung at a reception in Hanoi on September 23 for CEO of Lotte Asset Development Lee Kwang Young.
The Republic of Korea (RoK)’s Lotte Duty Free company opened a duty-free store at Noi Bai international airport in Hanoi on July 28, one year after the launch of the second of its kind in Nha Trang.
Investment in Vietnam from the Republic of Korea (RoK) is expected to rise further, increasing demand for labour, according to the Korea Trade-Investment Promotion Agency (Kotra).
There was a surge in sales at supermarkets and shopping malls during the four-day New Year holiday.
Ho Chi Minh City and Lotte Group of the Republic of Korea have agreed to strengthen their collaboration in infrastructure development.
Considerable developments in politics, economy, labour and socio-culture have been recorded in the Vietnam-the Republic of Korea (RoK) relations thanks to joint efforts made by the two countries since they set up diplomatic ties in 1992.
Chairman of the Hanoi People’s Committee Nguyen Duc Chung had a working session on December 3 with the Republic of Korea’s Lotte Chairman Shin Dong-bin on the group’s business results in 2018 and its plan to expand investment in the capital city in the time to come.
Renowned brands like Samsung, Oppo, LG, Jetstar, Vinamilk, Mattana, Canifa, and Uma, among others, will offer their products at a substantial discount during the fifth Online Friday scheduled for December 7.
Hanoi will organise three important international trade fairs in November 2018 to help promote regional specialities as well as boost business co-operation and exports.
A number of Vietnamese goods weeks have been held abroad this year, with the aim to offer Vietnamese firms a chance to directly export goods to big foreign distribution systems, such as Big C, Aeon, Lotte, and Emart.
Money from Asian investment funds is finding its way to Vietnam’s listed equities, spurred by mergers and acquisitions of conglomerates from Japan, Thailand, and the Republic of Korea.
The Vietnamese Government is supportive of Lotte group’s expansion into business fields of strength, including consumer finance, Deputy Prime Minister Vuong Dinh Hue assured Chairman and CEO of the Republic of Korea (RoK)’s Lotte Card Kim Chang-kwon during a reception in Hanoi on September 6.
The Korea-based Lotte Group wants assistance from authorities in Ho Chi Minh City to implement its eco-urban complex project at the city’s Thu Thiem New Urban Area, said a leader of the company.
The Ministry of Industry and Trade has granted 206 franchise licences for foreign brands in Vietnam since 2007, reports from the ministry showed.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong and CEO of Lotte Asset Development Lee Kwang Young have agreed to start construction of a smart complex in the city’s Thu Thiem New Urban Area on September 2.
In 2014, Vietnamese were the most economical consumers in South East Asia in a Nielsen survey. However, their spending habits have changed.