[Round-up] Vietnam Sees Rapid Mobile Shopping Growth, Taxman Eyes Big C

Tuan Minh

22:07 08/04/2016

BizLIVE - Shopping on mobile devices is becoming increasingly popular in Vietnam and growing at the third-fastest rate in the Asia-Pacific region. The tax authority will inspect Big C and Nguyen Kim Trading Co. this year.

[Round-up] Vietnam Sees Rapid Mobile Shopping Growth, Taxman Eyes Big C

The growth rate of shopping on mobile devices in Vietnam ranks third in the Asia-Pacific region. (Photo: mediaspectrum.net)

Canada Pork Exporters Seek Opportunities in Vietnam
Thirteen Canadian pork exporters are participating at the Canada Pork International Seminars in Hanoi and Ho Chi Minh City this week to explore further trade opportunities with the Vietnamese industry, the Canadian Embassy in Vietnam said in a press release.
The firms have met with Vietnamese port importers, processors and end-users to showcase Canadian pork and find chances to build tie-ups.
Businesses to Discuss Steel Tariffs
The Vietnam Competition Authority (VCA) will host a public consultation meeting on May 5 to collect opinions from agencies and businesses on the duties imposed on imported steel as local producers are struggling with cheap imports, the Vietnam News Agency (VNA) reported.
At the meeting, participants can present opinions on protective measures for steel products imported to Vietnam, according to the VCA.
Vietnam Taxman to Inspect Big C, Nguyen Kim Trading
Vietnam’s General Department of Taxation will inspect the tax compliance of numerous big firms including supermarket chain Big C, retailer Nguyen Kim Trading JSC and Binh Son Refining and Petrochemical Company, which runs the Dung Quat oil refinery.
The tax authority said it would focus on the large trading companies and firms that had a high potential for tax evasion.
HCM City Calls for Investment in Auto Industry
Ho Chi Minh City is calling for foreign investment in the automobile manufacturing industrial cluster located in the city’s Cu Chi outlying district, according to VNA.
In October 2014, the municipal People’s Committee approved a project to build the cluster in Cu Chi. Covering an area of nearly 100 hectares, the project has an investment of more than 500 billion dong ($22.43 million).
Toyota Vietnam Sees Sales Double m/m in March
Toyota Motor Vietnam Co., Ltd (TMV) sold 4,693 vehicles in March, up 98% from February and 25% against the same period of last year, the company said on April 7.
The northern and southern markets together captured the lion’s share of 87% of the total figure. The remaining 13 percent or 664 cars were consumed in the central region.
Vietnam Mobile Shopping Growth among Fastest in Asia: Survey
Shopping on mobile devices is becoming increasingly popular in Vietnam and growing at the third-fastest rate in the Asia-Pacific region, the Thanh Nien (Youth) newspaper cited a survey by MasterCard as saying.
The survey found nearly 52% of Vietnamese had shopped on mobile devices in 2015, up 16.8 percentage points from 2013, making the growth only slower than in Indonesia and Singapore.
JICA Evaluates $70 Million ODA Loan for Forest Project
Experts from the Japan International Cooperation Agency (JICA) met with the Dien Bien Provincial People’s Committee on April 8 with respect to ODA funding for an ongoing Sustainable Natural Resource Management Project, according to VOV.
The thrust of the discussions centered around a proposal to increase a $53.3 million ODA loan from the JICA to $70 million to implement the project, for which the counterpart organizations would additionally contribute $9 million.
Vietnamese Likely to Spend $7 Billion on Electronics Annually
Vietnamese consumers spend some 157 trillion dong ($7 billion) on buying electronics and refrigeration products each year from now to 2020, according to a market research conducted by GFK Vietnam.
The spending is driven by Vietnam’s rising income per capita and young demographics, according to the survey.
Household spending in Vietnam is estimated to reach $3,737 per home annually by 2020.
VinaCapital Vietnam Opportunity Fund Ltd (VOF), under VinaCapital – the largest fund manager in Vietnam with $1.3 billion under management, has invested $50 million in two private equity (PE) companies since the start of this year, said Andy Ho, managing director and chief investment executive of VinaCapital.
The Dong Nai Industrial Zone Authority has granted Thailand’s industrial park developer Amata VN Pcl a new license to develop a $23 million residential and commercial project in the province, adjacent to Ho Chi Minh City.
The firm will carry out the Amata Service City Long Thanh 1 project on an area of 55.4 hectares, or around 53% of the total land plot for which the company submitted licenses in the southern province, Reuters cited the Thai firm as saying in a statement.