Quality crucial for domestic products to retain market
Improving quality will be key for made-in-Vietnam products to keep its market share in the face of increasingly fierce competition from imports, according to a trade official.
Hanoi (VNA) – Improving quality will be key for made-in-Vietnam products to keep itsmarket share in the face of increasingly fierce competition from imports,according to a trade official.
Nguyen Thi ThuTrang, Director of the World Trade Organisation and Integration Centre of theVietnam Chamber of Commerce and Industry, made the warning, adding that if domesticmanufacturers fail to capitalize on their advantages in transport costs and tax,they may lose market share to imported products.
However, theMinistry of Industry and Trade was of the view that there is only a smallpossibility that import products can replace made-in-Vietnam products on themarket, at least in the near future.
The ministry saidthat import products are mostly marketed by modern retail forms like shoppingmalls, supermarkets and convenience stores, which account for just between 25 and30 percent of Vietnam’s retail market.
❀ The remainingmarket share is still dominated by traditional retail forms like markets, grocerystores and specialised stores, which are mostly owned by local retailers. Thoseretailers continue to rely on made-in-Vietnam products, which are cheaper thanksto lower expenses on transport and procedures, lower tax, and advantages inproducts’ freshness.-VNA
More than 100 intellectual property experts and lawyers discussed measures to promote the recognition and protection of Vietnamese famous brands during a workshop in Da Nang city on September 23.
Vietnam has successfully produced a combined measles-rubella vaccine as part of a project with co-operation from the Japan International Co-operation Agency (JICA).
The implementation of the “Vietnamese use made-in-Vietnam goods” campaign is a right policy that needs to be stepped up to boost the domestic market in the long run.
The Doosan Heavy Industries Vietnam Co., Ltd (Doosan Vina) had exported its products worth more than 1.21 billion USD to 28 countries and territories around the world by the end of 2016.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image (Source: VNA)
