Industrial and trade developments from the press review on December 6, 2019.
I. E-commerce and Digital Economy
- Online Friday 2019: Specifically, the year’s largest online shopping event launched on December 5.
- Massive Discounts: Furthermore, over 1,000 brands offered 50,000 items with discounts up to 70%.
- Regional Outlook: Meanwhile, experts predict an e-commerce boom across Asia throughout 2020.
- Administrative Reform: Additionally, local authorities are linking administrative reforms with “E-government” development.
II. Energy and Petroleum Performance
- PVN Success: Notably, Petrovietnam completed four major annual targets two months early.
- Revenue Growth: These goals include total revenue, profit, and state budget contributions.
- Electricity Output: Regarding utilities, the 11-month electricity output increased by 9.5%.
- Future Challenges: However, hydropower reservoirs face water shortages, requiring high coal-fired power mobilization.
- Oil Prices: Meanwhile, global oil prices fluctuated before the official OPEC meeting.
III. Industrial Challenges and Corporate News
- Auto Industry: Regarding manufacturing, global car sales may drop by 3.1 million units.
- Textile Struggles: In contrast, Vinatex reported a 20% profit decrease in early 2019.
- Strict Regulations: Furthermore, the Prime Minister ordered a crackdown on illegal coal mining.
- Corporate Moves: Specifically, Vinamilk is restructuring GTNfoods after acquiring a major stake.
- Divestment: Also, Vinachem plans to earn 45 billion VND from divesting Hanoi Battery.
IV. Import-Export and International Trade
- Record Turnover: Notably, Vietnam’s 2019 trade turnover is expected to reach $500 billion.
- Forestry Success: Specifically, wood and forest product exports hit a record $11 billion.
- Market Barriers: However, trade tensions and slow demand in China hinder export growth.
- Agricultural Exports: Meanwhile, THADI successfully exported 724 containers of fresh bananas.
- New Rules: Finally, the Ministry of Finance issued new guidelines for border trade customs.
V. Domestic Market and Commodity Trends
- Pork Crisis: Specifically, rising pork prices are forcing food processing firms to increase costs.
- Supply Solutions: Therefore, experts suggest increasing feeding times to boost the national pork supply.
- Secondary Effects: In addition, chicken prices in Hanoi rose due to the pork shortage.
- Safety Standards: Consequently, authorities are tightening food safety inspections for the Lunar New Year.
- Retail Expansion: Finally, Uniqlo officially entered the Vietnamese market with a long-term strategy.
Clarification: Would you like more details on the new National Brand criteria or the specific OPEC production cut expectations mentioned in the reports?
