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While Japanese retailers are expanding in Vietnam, their Korean peers appear to be shrinking their presence in the Southeast Asian country amid the fierce competition, which is partially coming from local players. E-mart, South Korea’s largest retailer, is selling its business in Vietnam to Thaco, one of the country’s biggest private conglomerates and also a leading player in the local auto market. ....
Expanding fast food outlets place strain on obesity worry 10:00 | 12/05/2021 As international organisations are at pains to warn of an increasing obesity problem in Vietnam, the countryâs fast food industry continues to swell despite mounting losses for some chains and difficulties in attempting to alter local eating norms. Despite its fast-paced development, Lotteria Vietnam has been operating at a loss. In 2020, the chainâs net losses surpassed $8.97 million, reducing its book value from $24 million at the beginning of the year to a little less than $14 million. The COVID-19 pandemic was not the main culprit behind the chainâs losses, as it was only a continuation of the VND20 billion ($870,000) losses it suffered between 2017 and 2019. ....
VIETNAM BUSINESS NEWS APRIL 22 Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công 22/04/2021
12:47 GMT+7 Vietnamese firms have chance to reach out to Halal market Global demand for Halal product is increasing. (Photo: halalvietnam.vn) Vietnamese food processors have opportunities to tap into the billion-USD Halal market when attending a hybrid exhibition on Halal products and processed food scheduled in late May in Singapore. The Food and Agriculture Organisation of the United Nations (FAO) in Vietnam estimated that the Halal market is growing rapidly, with Muslim consumers worldwide spending 1.4 trillion USD on Halal food, and the figure expected to be ten times higher in 2050. ....
Monday, April 19, 2021, 11:30 GMT+7 A Lotteria restaurant in Vietnam. Photo: Ngoc Phuong / Tuoi Tre Lotteria Vietnam has said that it will continue its business expansion in Vietnam amid Korean media reports of its closedown over a net loss of nearly US$9 million. The company, which is operated by Lotte GRS under South Korea’s Lotte Group, dismissed a media report that it would cease operations in Vietnam, a spokesperson told Tuoi Tre (Youth) newspaper on Saturday. There is an inaccurate understanding of the Korean media report, the Lotteria Vietnam spokesperson added. Lotteria Vietnam is proceeding with its normal business while an expansion is underway. ....