Coverage

Local retailers see their future in the news from developed markets The explosive power of e-commerce The US has seen a series of retail store chains close and go bankrupt, including Toys “R” US, Walgreens, Gymboree, and Walmart, among others. Most recently, Walgreens—the largest pharmaceutical store chain of the US—closed 600 stores due to the mushrooming e-commerce sites. Despite selling at higher prices than other stores, Walgreens was a favourite of customers due to its convenient locations and attractive promotion programmes. Vietnam’s e-commerce retail sales growth in 2016-20 is estimated at 20 per cent per year, and the country’s total retail e-commerce sales is expected to reach $10 billion by 2020. However, Walgreens still stands behind Toys “R” Us in the number of stores closed. Previously, Toys “R” Us, the iconic toys and games retail chain that ruled the market for generations, decided to either close or … [Read more...] about Vietnamese retailers prepare for e commerce landfall

Young people were lining up at the opening of Superdry's first store in Vietnam In the morning of April 21, the Superdry fashion store in Hanoi welcomed hundreds of visitors and shoppers to celebrate its official opening day. People, especially young people, excitedly lined up to buy their first Superdry productsin the Hanoi store and win attractive gifts from the retailer. Besides, the opening ceremony attracted famous actors and models, including stylist Hoang Ku, and models Huu Vi and Cao Minh Thang. Numerous people stated that before Superdry arrived to Vietnam, they had to order products online from overseas. They were enchanted by the exciting contemporary brand which focuses on high-quality products that fuse vintage Americana and Japanese-inspired graphics with a British style. On this occasion, Superdryalso displays its latest perfume collection called “Superdry SS18,” which was inspired by the summers of the 1990s on the Italian seaside. Superdry has a … [Read more...] about Superdry looking at good prospects in Hanoi

This year's tourney features record participation and funds raised This year, the Swing for the Kids tournament has reached new records in terms of the number of golfers and the charity funds raised. Notably, the tournament attracted 260 golfers and raised over VND1.8 billion ($79,051) in cash for VIR’s scholarship fund and Vietnam Learning Promotion Association. Especially, this is the first time that the tournament has taken place at the premier 18-hole Kings Course, the third golf course of BRG Kings Island Golf Resort. The field was designed by Jack Nicklaus II, the son of legendary Jack Nicklaus, and offers unique beauty in every aspect. The course is famous for its 19th hole, an exclusive setting for dramatic play-off rounds. With the tee box located on top of a nearly 30m high waterfall, a large lake away from the greens, it will certainly be the hole that all golfers want to try. Furthermore, with the prestige and professionalism of the tournament during the past … [Read more...] about Swing for the Kids 2018 officially teed off

The twelfth annual golf charity tournament series Swing for the Kids kicks off in Hanoi in April, hoping to raise in the region of VND1.4 billion ($637,000) to enrich the Swing for the Kids scholarship fund. Scheduled for Saturday April 21 the twelfth VIR Swing for the Kids charity tournament will tee-off on the Kings Course at Kings Island Golf Resort in Son Tay district, about 36 kilometres from the city centre. The shotgun start will be at 12pm, and the tournament is expected to attract close to 240 golfers. The awards ceremony will be held on the evening of the tournament at 6pm in the Kings Island Golf Club. The premier 18-hole Kings Course, the third golf course to begin operating at BRG Kings Island Golf Resort, was designed by Jack Nicklaus II, the son of legendary Jack Nicklaus, offering unique beauty in every aspect. The course is famous for its 19th hole, an exclusive place for dramatic play-off rounds. With the tee box located on top of a waterfall nearly 30m high, a … [Read more...] about Swing for the kids Swinging with kind hearts

PM Nguyen Xuan Phuc and Myanmar’s State Counselor Aung San Suu Kyi on Thursday committed to further deepening Viet Nam-Myanmar trade and investment relations by seeking new ways to soon achieve the two-way trade goal of US$1 billion. PM Nguyen Xuan Phuc and Myanmar's State Counselor Aung San Suu Kyi on way to their talks room after the Government chief hosts welcoming ceremony for the guest at the Presidential Palace in Ha Noi. Photo: VGP The two sides agreed to foster political-diplomacy cooperation through accelerating mutual visits and contacts on all channels as well as people-to-people exchanges. Both sides also agreed to convene the 9th meeting of the Viet Nam-Myanmar Joint Commission for Bilateral Cooperation and to early approve an action plan to deploy their comprehensive cooperative partnership in the period 2018 – 2023. The two leaders spoke highly of the recent developments in defense and security ties, pledging to effectively implement the … [Read more...] about Vietnam, Myanmar vow to seek new ways to achieve trade goal

The first fruitful achievement The story begins with 23 year old teacher Le Van Tu, now one of the youngest Chemistry specialist teachers at the famous Phan Boi Chau high school in Nghe An province. Before starting his teaching career, Tu was one of the most outstanding students for four consecutive years honoured with a Swing for the Kids scholarship. The story of his endless efforts and resulting success has fueled hope in children just starting out with Swing for the Kids. Born and raised in Nam Dan district, Nghe An province, in a family facing hardship in an area of land affected by severe weather from Laos, for Tu, the path of education seemed to be closed. The unexpected death of his father in a traffic accident resulted in a turbulent home life. Tu’s elder brother suffered mental health problems and his mother required a series of treatments. His older brother, who was in his twelfth grade, was unable to continue working towards the national exam for university … [Read more...] about Swing for the Kids: Giving meaning to the game

A delegation of UNIQLO has just visited to look for investment opportunities in Texhong Hai Ha Industrial Park and discover avenues of co-operation with Hualida Garments Co., Ltd. UNIQLO visiting the production line of Hualida Garments in Texhong Hai Ha IP Texhong Textile Group started to build Hai Ha IP in November 2014, which is the largest foreign-invested project in Quang Ninh with the total registered capital of $450 million and taking up an area of 660 hectares. For the operation of the IP, the group has received extensive support from Quang Ninh province to complete investment procedures, land clearance, and the construction of the transport and power systems. Thereby, 6-kilometres of internal road, a transformer station system, and a wastewater treatment plant with the capacity of 6,000cu.m per day have been built. It is expected to put another 10,000cu.m wastewater treatment plant into operation in this June. There are five secondary investors operating in the fields … [Read more...] about UNIQLO visit may turn fashion retail up side down once more

An exterior view of the Starbucks Center, headquarters for the international coffee and coffeehouse chain, in Seattle, Washington. (AFP PHOTO/Mark RALSTON) It was the latest bid by the behemoth coffee chain to recover from last Thursday's incident in Philadelphia, which was captured on video and went viral, viewed millions of times. The video posted on Twitter by a Starbucks client shows uniformed police questioning and then handcuffing the two men, who offer no resistance, as a white client repeatedly asks an officer, "What'd they do? What'd they do?" Starbucks said more than 8,000 stores would be closed on the afternoon of May 29 and training provided to nearly 175,000 employees, and incorporated going forward. CEO Kevin Johnson, who has also apologised, said the company was "committed to being a part of the solution" and that he had been in Philadelphia "listening to the community, learning what we did wrong and the steps we need to take to fix it." "Closing our stores for racial … [Read more...] about Starbucks to shut US stores for ‘racial bias education’

The valuation process of VTVCab is under scrutinty VTVCab is currently under scrutiny for its valuation process. The cable channel firm decided to put nearly 42.3 million of its shares on the market with the starting price of VND140,900 ($6.2). However, after a quick look at the business targets that VTVCab set for itself after the equitisation as well as its financial results in the past three years, investors could easily tell that the price-per-earnings ratio was sky high at 334x. This is the highest P/E ratio in the Vietnamese stock market so far. Since last year, VTVCab’s valuation has been a major cause of controversy. In May 2017, state auditors noted that the total amounts of the assets of VTVCab stood at VND4.27 trillion ($187 million), which is VND279 billion ($12.2 million) higher than the initial quotes by CPA Vietnam Auditing Company Ltd. According to State Audit of Vietnam, CPA Vietnam has to adjust its valuation of VTVCab and should not include a certain number … [Read more...] about Lingering problems in valuation of state owned enterprises

The development of three SAEZs (special administrative-economic zones) in Vietnam will require VND1.57 quadrillion ($70 billion) to be mobilised by 2030. Phu Quoc needs the most capital out of the three SAEZs The Ministry of Finance has just appraised three SAEZ projects, announcing stellar figures. Van Don SAEZ needs around VND270 trillion ($12 billion) in 2018-2030, a half of which will come from domestic sources, with the remainder being foreign capital. Total investment for North Van Phong SAEZ in 2019-2025 is estimated at VND400 trillion ($18 billion), VND45 trillion ($2 billion) of which will come from the state budget. Phu Quoc be particularly capital-intensive, with approximately VND900 trillion ($40 billion) needed in 2016-2030 to turn it into a SAEZ. 59 per cent of this will come from domestic capital, while the remainder will be sourced from outside the country. This amount will be spent for land clearance, infrastructure construction, water and power systems, and … [Read more...] about Three SAEZs need $70 billion for development