return icon

Shopkeepers in HCM City traditional markets want tax cuts for their survival

To support small businesses affected by the Covid-19 pandemic, HCM City authorities have instructed traditional markets to reduce their rents by 50 per cent for six months.



High taxes are one of the biggest burdens for shops operating at traditional markets in HCM City. 



The cuts took effect in February, and the city had assigned the Department of Industry and Trade to manage it together with the Department of Finance.

The rents will be subsidised by public funds.

Tran Thi Hoa, who runs a stall at Nguyen Van Troi Market in District 3, said while she is thankful to the city government for its support for small traders, the cuts would not help much since rents at traditional markets are only VND 200,000 - 300,000 (US$8.7-13) a month, meaning the saving would be less than a million dong over six months.

The biggest problem for small traders is the steep fall in the number of shoppers visiting traditional markets, she said.

According to many shopkeepers, last year sales at traditional markets fell by 60-80 per cent from previous years.

Ben Thanh Market in District 1, one of the city’s oldest markets, has just a few dozen visitors during weekends compared to thousands during normal times.

Most of its 3,000 stalls, which sell food, garments, footwear, and handcrafts, are closed.

Shops selling Vietnamese handicrafts and fried seafood, favoured by both foreign and local visitors, have been closed since March 2020.

“The impacts of the COVID-19 pandemic on my business began last February,” Tran Ngoc Thu, who sells handicrafts at Ben Thanh Market, said.

A similar situation has been reported at other wholesale markets in the city, including An Dong in District 5, Binh Tay in District 6 and Soai Kinh Lam in Cho Lon (Big Market) in District 5.

Stall owners used to hire at least three salespeople, but have had to let many go since they cannot afford to pay them. Many of them have had to shut their shops due to lack of business.

Taxes are one of the biggest concerns of small businesses, who pay VND4-6 million a month on average.

So they wanted the city to reduce or waive tax for six months, saying it would be of far greater help in reducing their financial burden and help them stay open. — VNS

Silent, painful reforms of the tax sector show positive results

Silent, painful reforms of the tax sector show positive results

The tax sector’s painful, quiet reforms have helped increase Vietnam’s position in the global business climate report.


Huong Pagoda crowded on the first day of spring festival 2023

Despite the cold weather, thousands of people flocked to the Huong (Perfume) Pagoda Festival in Huong Son commune, Hanoi’s outlying district of My Duc on the opening day to celebrate the new year.

Data centers: Vietnam's bright spot

Under the impact of Covid-19, many activities have moved to online platforms and amount of data uploaded has been increasing.

More Vietnamese scientists returning to home country

More Vietnamese scientists decided to return to the country with a desire to devote themselves to their homeland’s growth.

Hoang to defend WBA belt in hometown next month

Truong Dinh Hoang announced the bout on his Facebook page on February 26, though the challenger has yet to be named.

Sea tourism and expectations for a 'made in Vietnam' fleet

The number of cruise tourists accounts for only 2-3% of the total number of international visitors to Vietnam.

Hanoi’s tourism sector rakes in over VND1 trillion during Tet holiday

The capital expects to welcome roughly 332,000 visitors, including 32,000 international guests, during the Lunar New Year holiday from January 21 to January 26, with total revenue anticipated to reach more than VND1 trillion.

Stone lion statues - Symbol of stone sculpture art of Ly Dynasty

According to Buddhism, lion is the embodiment of intellectual power, but with stars on the body, the stone lions of the Ba Tam pagoda-temple also have the meaning of carrying the moving sky.

Vietnam's retail market predicted to bustle in 2023

Although 2023 is forecast to see many difficulties, experts expect this is a recovery year of the retail sector after COVID-19 pandemic as there are many signs showing the return of investors and higher demands.

Vietnam's leather and footwear industry targets US$27 billion in 2023 exports

The leather and footwear industry is striving to reach US$27 billion in export turnover in 2023, an increase of about 10% compared to one year earlier amid shrinking major markets and falling demand.

Discovering artisans' skills in Thanh Ha ancient pottery village

If pottery villages now mainly use molds, artisans in the Thanh Ha ancient pottery village in Hoi An city, Quang Nam, have kept their traditional method of making pottery - hand made and wheel thrown.

Destinations across Vietnam report surges in holiday-maker numbers during Tet

Tourist attractions across Vietnam have lured large numbers of holiday-markers during the week-long Lunar New Year (Tet) festival from January 20-26.

EVFTA presents tremendous trade, investment advantages

Commitments outlined in the EVFTA on both trade and investment are expected to contribute to attracting European businesses and investors to expand their activities in Vietnam, further promoting trade and investment cooperation.

10 houses with special architecture in Vietnam

With bold ideas, architects can create houses that are both aesthetic and functional. Here are 10 interesting houses in Vietnam.

89 people killed in traffic accidents during seven-day Tet holiday

A total of 152 traffic accidents occurred nationwide, killing 89 people and injuring 111 others during the 2023 Tet Lunar New Year holiday from January 20-26, reported the Traffic Police Department.

End of Tet holiday marked by high traffic congestion around major cities

In a bid to avoid the congestion, many people opted to return on Wednesday afternoon or Thursday morning.