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The fashion industry moves online



As consumption habits have changed during the Covid-19 pandemic, the fashion industry is gradually expanding into online business.

Ngành thời trang chuyển dịch lên online để thích ứng sau đại dịch

The opening ceremony of Uniqlo online store. (Photo: Uniqlo)

Mr. Nguyen (Tan Binh district, HCM City) was waiting in front of the cashier’s desk at an Uniqlo store in HCM City when an employee approached, invited him to install the application and register for a membership. After successful membership registration, Mr. Nguyen deducted 150,000 VND from the bill.

In the long line of people waiting to pay that day, many other people were invited to register for a membership to receive a discount of 150,000 VND. Most of them accepted the offer.

Previously, in November 2021, this Japanese fashion retailer opened an online channel on Instead of calling this event an online sale, the company called it “Uniqlo online store” – the largest Uniqlo store in Vietnam – with more than 15,000 products, to emphasize the online segment as an independent store, not an auxiliary sales channel.

In addition to a larger number of products than physical stores, the Japanese fashion company differentiates this sales channel by launching a number of collections that are only sold online, giving promotions when the invoice reaches a certain amount of money. In addition, customers can choose to buy on an app or website, and then receive the goods at a physical store, to create a seamless shopping process.

According to the General Statistics Office, retail sales of apparel in the first nine months of 2021 fell by 9.6% over the same period of 2020. This was due to the impact of the pandemic when retail stores were closed for a long time.

Among eight large enterprises under the Vietnam National Textile and Garment Group (Vinatex) focusing on domestic business, only one recorded growth – of 105.7% in retail revenue in the first nine months of 2021. Other businesses saw their revenue falling by 30-40%.

Over the past two years, many garment businesses in Europe and the US have gone bankrupt, or reduced their store size by 30-50%.

In this situation, most fashion retail companies and fashion brands, whether young or old, are gradually moving to e-commerce.

Regarding the potential of online sales, according to the Vietnam Textile and Apparel Association (Vitas), online business in Vietnam is in the early stages of development and will have huge potential for development in the next five years.

Asia Plus believes that the change in shopping behavior of Millennials (who were born in the 1980s and 1990s) and Centennial (who were born in the 2000s) will create a new attraction for the market. This generation not only shops at traditional fashion stores but also is familiar with buying on e-commerce platforms and social networking sites.

The only Vinatex enterprise with positive revenue in 2021 is thanks to investment activities from previous years. In addition, the company combines both direct and online channels to tap into new groups of customers.

An advantage when putting goods online is the variety of designs that the size of the physical store cannot display. That’s why Uniqlo claims the online store that opened last year is the largest in their network. In addition, the company also emphasized that there will be clothes in sizes ranging from XS to XXL only in online stores.

The variety of goods and sizes is an advantage of fashion brands when putting products online.

Ms. Uyen (Tan Phu District, Ho Chi Minh City) usually goes to Biti’s store to buy shoes for the whole family, but recently when she searched e-commerce platforms, she saw that this label had a store on e-commerce sites like Tiki, Lazada, Shopee.

“I decided to buy Biti’s shoes on Lazada because I can choose more models and sizes compared to traditional stores,” said Ms. Uyen.

Although she is used to shopping online, Uyen only buys fashion goods at genuine brands’ stores, or from guaranteed sellers on e-commerce platforms to ensure quality and a return policy.

According to a report from Vietnam Industry Research and Consulting Joint Stock Company (VIRAC), the trend of online shopping for fashion items on e-commerce channels will become more popular.

The main reasons are better product quality management on e-commerce sites and stricter regulations on product images and descriptions, which helps to improve consumer trust.

Hai Dang



PM asks for drastic solutions to remove difficulties in production, business



Prime Minister Pham Minh Chinh has signed Official Dispatch No. 470/CD-TTg requiring ministries, sectors, and localities to continue drastically and effectively implementing tasks and solutions to remove difficulties for production and business.

PM asks for drastic solutions to remove difficulties in production, business hinh anh 1Illustrative photo (Photo:

Hanoi – Prime Minister Pham Minh Chinh has signed Official Dispatch No. 470/CD-TTg requiring ministries, sectors, and localities to continue drastically and effectively implementing tasks and solutions to remove difficulties for production and business.

Specifically, the PM asked ministers, heads of ministerial-level agencies, governmental bodies, and chairpersons of the People’s Committees of provinces and centrally-run cities to focus on tasks and solutions that help to remove difficulties and obstacles for production and business and create favourable conditions for businesses and people according to the Government’s Resolution No. 01/NQ–CP on key tasks and solutions to implement the plan on socio-economic development plan, State budget estimate, business environment improvement and national competitiveness in 2023, along with other decrees and resolutions.

The Ministry of Industry and Trade, the Ministry of Foreign Affairs, and relevant agencies were asked to effectively implement the signed Free Trade Agreements (FTAs) and step up negotiations and signing of new trade agreements, commitments, and associations, including the FTA with Israel, the UAE, and MERCOSUR to diversify markets, products, supply chains for Vietnamese products and goods, especially those with strengths, potential, and advantages.

The State Bank of Vietnam (SBV) continues to review and direct the commercial banking system to cut costs, apply digital transformation, strengthen effective management, reduce administrative procedures, and promote innovation to further reduce lending interest rates.

It is necessary to continue reviewing the disbursement of the credit packages of 40 trillion VND (over 1.7 billion) and 120 trillion VND with more flexible, feasible, and reasonable lending conditions. Meanwhile supervisions and inspections are needed to be strengthened to prevent policy profiteering and law violations.

The Ministry of Finance was asked to urgently examine, evaluate, and urge the General Department of Taxation to immediately handle dossiers for VAT refund by May 28; effectively implement policies on extension, exemption, and reduction of taxes, fees, charges, and land rents approved by competent authorities and continue to propose other support policies.

Ministries, agencies, and localities were asked to continue reviewing, inspecting, and cutting out unnecessary administrative procedures which increase costs, and cause troubles for people and businesses.

They need to actively deploy the application of digital transformation.

The Minister, the Chairman of the Government Office was asked to oversee the ministers, the heads of agencies, and chairpersons of the People’s Committees of the provinces and cities to seriously implement the PM’s directions and promptly report the results of tge implementation to the PM./.


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Vietnam’s GDP growth ranges 5.8 – 6.9% in 2023-24: int’l organizations



Vietnam may achieve an economic growth of 5.8 percent at least in 2023 and 6.9 percent at most next year, but there remain a lot of challenges to overcome, according to the predictions by many international organizations.

These forecasts were released Friday at the Government’s monthly meeting for May under the chair of Prime Minister Pham Minh Chinh, focusing on reviews of the socio-economic development in the past five months and set out tasks for the remaining months of the year.

In a report to the meeting, the Ministry of Planning and Investment said that international organizations continue highly valuing Vietnam’s economic growth prospects in 2023 as well as next year. 

The International Monetary Foundation (IMF) has forecasted that Vietnam may achieve GDP growths of 5.8 and 6.9 percent in 2023 and 2024, respectively, while the corresponding figures projected by the Organization for Economic Cooperation and Development (OECD), the Asian Development Bank (ADB) and the World Bank (WB) are 6.5 and 6.6 percent, 6.5 and 6.8 percent, and 6.3 and 6.5 percent.

However, the national economy will continue facing many complicated and unpredictable risks and fluctuations, which may come from the slow recovery of its major trading partners, and from the pressure of the global inflation that is assessed to be slowing down but still at high levels.

Among other challenges are the trend to tighten monetary policies in many countries to control inflation; the risk of disruption in global value chains; and problems related to energy security, food security, natural disasters, epidemics, and climate change.

Therefore, the ministry has proposed the government to adopt a number of solutions to support enterprises as well as people to help them overcome difficulties.

Over the past five months, the country’s macroeconomic conditions were kept stable and its inflation was under control thanks to the government’s timely policies and directions, despite the fact that the world economy has been facing complicated and unpredictable changes, said Minister Nguyen Chi Dung. 

The average consumer price index (CPI) in the past five months increased by 3.55 percent from a year earlier, while manufacturing and business activities continued to improve.

The index of industrial production (IIP) in May was estimated to increase by 2.2 percent from April and by 0.1 percent year on year.

Addressing the meeting, PM Chinh directed all relevant ministries and localities to take solutions to remove obstacles to enterprises’ operations, support exporters in searching and expanding new markets, continue improving administrative procedures, and promote application of science, technology, and digital transformation in economic activities. 

It is necessary to develop a resolution on improving the trade and investment environment, amending mechanisms and policies to attract foreign direct investment, and giving assistance to businesses that face difficulties, the PM requested. 

The government has recently sent 26 working groups to all 63 provinces and cities of the country, where they received more than 1,000 opinions and recommendations and resolved 300 recommendations on the spot, the Vietnam News Agency cited PM Chinh as saying.

The government’s chief requested all relevant ministries take effective measures to support exporters, expand export markets and make the best use of the domestic market.

The Ministry of Finance was required to carry on effectively implementing tax exemption, reduction and extension policies, extending  deadlines for excise tax payment, and speeding up VAT refund, among other tasks.

The PM also asked the State Bank of Vietnam to continue reducing lending interest rates, restructure the loan repayment terms, keep the foreign currency market stable, and effectively manage the exchange rates.

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Vietnam, Italy develop SMART platform to expand online trade connectivity



The Italian Trade Agency in Vietnam announced on May 26 that it has teamed up with the Italian Ministry of Foreign Affairs and International Cooperation and the General Confederation of Italian Industry to set up the ASEAN Education and Business Programme (VELP 2023).

Vietnam, Italy develop SMART platform to expand online trade connectivity hinh anh 1Illustrative image (Photo: VNA)

HCM City – The Italian Trade Agency in Vietnam announced on May 26 that it has teamed up with the Italian Ministry of Foreign Affairs and International Cooperation and the General Confederation of Italian Industry to set up the ASEAN Education and Business Programme (VELP 2023).

VELP 2023,, is a useful portal built on the SMART 365 platform to facilitate direct and reliable connections between Vietnamese businesses seeking partners or suppliers in Italy.

Through VELP 2023, the two countries can access updated information on a greater number of firms, particularly small and medium-sized enterprises operating in various fields, including agricultural machinery and equipment, environment, mechanical engineering and renewable energy.

As a powerhouse in industry and machinery, Italy specializes in providing a wide range of high-quality products and advanced technological solutions. Currently, many Italian investors in the manufacturing industry are doing business successfully in Vietnam, namely Bonfiglioli (power transmission and gear motors), Piaggio (mechanical engineering and motorcycles), Danieli (steel production), Datalogic (barcode readers, sensors, mobile devices), Ariston (water heaters and energy equipment), ENI (oil and gas), and ENEL Green Power (renewable energy).

Since the establishment of diplomatic ties five decades ago and bilateral strategic partnerships a decade ago, Vietnam and Italy have become important partners in various fields.

Vietnam is now the biggest trade partner of Italy in ASEAN while Italy is the fourth largest trade partner of Vietnam in the EU. More and more Vietnamese and Italian firms are showing interest in each other’s markets and working to seek ventures in various areas./.


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