In Briefs (02-12-2008) Retail gas prices continue to fall HCM CITY — Retail gas prices are expected to fall more than VND20,000 per 12kg canister in December, according to gas-trading companies. Global gas prices dropped strongly in November, currently priced at US$350 per tonne, a decrease of $140 from the start of the month. Thus, many gas-trading companies continue to cut retail prices in order to compete effectively and guarantee benefits for customers. Businesses receive Golden Brand awards HA NOI — The Golden Brand Awards were presented to 102 outstanding businesses for their good performance and prestige in the market at a ceremony in Ha Noi on Saturday, including Sai Gon Beer and Beverage Corporation (Sabeco), Phu Quy Jewelry Ltd Co, and Ha Long Seafood Processing JSC. Deputy Minister of Industry and Trade Nguyen Cam Tu said the awards aimed to sharpen the competitive edge of domestic businesses and encourage them to promote their brands in the context of Viet … [Read more...] about Retail gas prices continue to fall
Retail
Foreigners taking actions to swallow retail market
VietNamNet Bridge - A lot of big foreign retailers are making hectic preparations to expand their operation in Vietnam in order to obtain "bigger pieces of the cake" of the very lucrative market. Malaysian Parkson Retail has clearly shown its expansion plan in the Asian market. South Korean GS Retail is seeking domestic partners. Meanwhile, Vietnamese Vincom has said it is planning to open many more shopping malls in the time to come. The moves show that the retail market has become hotter than ever, the retail premises would be short, while the competition on the retail market would be very stiff. The plans of the "big guys" Parkson, the well-known Malaysian shopping mall developer and manager, belonging to Lion Group, set foot in Vietnam in mid 2005. The name of the retailer has once again appeared in many newspapers these days, when news was released that Parkson plans to list its shares on Singaporean bourse, in order to mobilize 300-500 million dollars worth of capital which … [Read more...] about Foreigners taking actions to swallow retail market
Vacancy rates fall for retail space
Thuy Anh A view of Nguyen Tat Thanh Street in HCM City. The property market's retail business segment is showing encouraging signs with vacancy rates falling in the third quarter despite the difficult economy. — VNA/VNS Photo Hoang The Nhiem HCM CITY (VNS)— Though the economy remains mired in difficulty, the property market's retail business segment is showing encouraging signs with vacancy rates falling in the third quarter, according to property services companies. A report by CBRE Viet Nam says the total vacancy rate for both department stores and shopping centres has decreased from 15.5 per cent in the previous quarter to 12.4 per cent. The monthly rental is around US$103 and $105 per square meter respectively for department stores and shopping centres in the downtown area, unchanged in case of the former and 3.4 per cent down for the latter. Outside the downtown area, the rents are respectively $47.5 and $30, 2.5 per cent down in case of department stores and … [Read more...] about Vacancy rates fall for retail space
Potential retail market
Retail sales GDP and turnover have increased considerably in recent years, however, more premises for the retail market are necessary to meet the increasing demand. CB Richard Ellis (CBRE) Vietnam Director, Richard Leech, says there will be an increased number of premises for the retail market in Hanoi in 2011 with an additional area of 228,000sq.m compared to 2010. Renowned trademarks penetrate Vietnam Retail sales rose by 30 percent in 2010 which attracted many domestic and foreign investors to expand their trading. Retail sales centres are mainly concentrated in the Old Quarter and western area of Hanoi. The average GDP growth in Hanoi and Ho Chi Minh City is around 10 percent per year. Mr Leech says higher incomes provide more chances for customers to shop at high quality commercial centres, but premises for retail sales still remain the same at 118,480sq.m. Hang Da Market, which is scheduled to open in August 2011, has now completed its long-term hiring and plans … [Read more...] about Potential retail market
Retail woes continue as slowdown hurts companies
Economic woes in Vietnam are spreading with retail sales growth cooling to the slowest since at least 2004 in the eight months through August By noon on a recent weekday, Nguyen Thi Hanh hadn't sold a single mooncake at her sidewalk kiosk set up for the Mid-Autumn Festival on a busy street in Hanoi. She squatted on the ground to tend to her embroidery, instead. "I'm very worried the slow sales will cut into my bonus this year," said the 52-year-old vendor, who sells the sweet pastry stuffed with mung beans at VND36,000 ($1.70) each for a local food chain. Sales are about half of last year's, she said September 3, about two weeks before the festival. "There's no way I can meet the quota set by the company if this continues." Hanh's difficulty in selling during one of the busiest shopping periods in Vietnam adds to evidence that the country's economic woes are spreading. Retail sales growth cooled to the slowest since at least 2004 in the eight months through August as consumers cut … [Read more...] about Retail woes continue as slowdown hurts companies