return icon

Retail giants to sell low-cost products

With powerful financial resources, big retailers are organizing retail chains that sell a wide variety of lower priced goods.

Mobile World Group (MWG) has joined the market of technology accessories. The retailer now sells portable smartphone charger, earphones, speakers and keyboards.

MWG is the first retail chain joining the technology accessory retail segment, which had been available only at small shops.

Analysts say that MWG made a wise move when jumping on the bandwagon. All smartphone users want to buy accessories. The typical characteristic of the market is that it mostly targets young clients, so products need to be diverse and suitable styles.

They estimate that the smartphone accessory market was valued over $202 billion in 2020. With an annual growth rate of 4.5 percent, it is expected to reach $328 billion by 2030.

Retailing technology products is MWG’s forte with thousands of shops throughout the country. However, as the market is getting saturated, it has been trying to expand into other fields. Not only smartphone accessories, it also sells fresh food and essentials with its Bach Hoa Xanh chain. 

MWG began selling drugs when the Covid-19 pandemic broke out. Last November, MWG bought 1.294 million shares of An Khang for VND 52.2 billion to own this drugstore chain. Earlier, An Khang sold 49 percent of shares to MWG in April 2021. After the deal, MWG reported an accumulative loss of VND 16.9 billion from An Khang in Q3/2021.

Bach Hoa Xanh was launched by MWG in late 2015 and by Q3/2017, the number of Bach Hoa Xanh stores reached 200. By August 2021, the chain had 2,000 stores in the south, the eastern and southern parts of the central region.

FPT Digital Retail JSC (FPT Retail) has also begun selling drugs after taking over the Long Chau drug store chain, a well-known brand in HCM City. FPT Long Chau earned VND3.977 trillion in 2021, up by 3.3 times over 2020.

Nova Retail, a subsidiary of Nova Group, is running a retail chain that sells fashion products, accessories and cosmetics, and a convenience store chain, serving tourism destinations and the projects of Nova Group. 

Ngoc Cuong


Ample room remains for Vietnam’s exports to EU

There is still a lot of room for Vietnamese goods to expand their presence in the European Union (EU) market, but accessing its retail distribution systems is extremely important, heard a seminar in Ho Chi Minh City on August 11.

Vietnam yet rolls out Covid jabs for under-5s

Vietnam has yet planned to get younger kids aged under five vaccinated against COVID-19, according to the Ministry of Health (MoH).

Vietnam to host Mekong Tourism Forum in October

Vietnam is scheduled to host the 2022 Mekong Tourism Forum, themed “Rebuild Tourism, Rebound with Resilience”, from October 9 – 14, the first in-person meeting of the six Greater Mekong Subregion (GMS) destinations since the pandemic began in 2019.

Cryptocurrencies show high risks

Even though cryptocurrencies are not legally recognized in Vietnam, they have gradually become popular due to unlawful trading via specific platforms.

Pandemic-hit labourers continue to receive financial support

The Unemployment Insurance Fund plans to pay out 1.15 trillion VND (49.15 million USD) to support labourers affected by the COVID-19 pandemic, according to a resolution issued by the National Assembly (NA) Standing Committee.

Seven petroleum wholesalers’ licenses suspended

The Ministry of Industry and Trade suspended the operating licenses of seven key petroleum import and export businesses after inspecting 33 wholesalers in February this year.

President reduces death penalties to life sentences for 21 prisoners

President Nguyen Xuan Phuc on August 12 decided to reduce death penalties to life sentences for 21 prisoners, including two foreigners.

Storm Mulan circulation leaves six dead and missing

A total of six people have been confirmed dead with several others missing throughout the northern region following torrential rains and floods caused by Storm Mulan’s circulation.

Strange creatures in Vietnam: tree-climbing fish, water-fearing crabs

Thoi loi fish, or giant mudskipper, is one of the strangest fish species on the planet. A man in Ca Mau raises the fish as if it is a pet, while colorful ornamental crabs are raised by a man in Hanoi who earns hundreds of millions of dong a month.

Domestic securities companies face losses

Several deep and prolonged corrections in the stock market of late have caused many domestic securities companies to face heavy losses, after a phase of continuous profit-making.


Vietnam to host Mekong Tourism Forum in October

Five different COVID-19 vaccines put through clinical trials

The vaccines include Nanocovax, COVIVAC, ARCT-154, COVID-19 HIPRA and S – 268019.


Ministry proposes keeping COVID-19 in Group A of infectious diseases

Provincial leaders, finance official face disciplinary action

The Party Central Committee’s Inspection Commission held its 18th session in Hanoi from August 10-11 to discuss wrongdoings by several Party bodies and impose disciplinary measures against the officials involved.

Rise of screen time puts children at high risk of social media addiction

The National Children's Hospital has recently received more child patients with mental illnesses attributed to the increased screen time they spent during the COVID-19 pandemic when outdoor physical social activities were limited.