Tighter Alcohol Testing Leads to Decreased Food and Beverage Revenue

According to the Ho Chi Minh City Statistics Office, the food and beverage revenue in January is estimated to reach 9,116 billion VND, a decrease of 1.3% compared to the previous month.

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According to the January 2024 report on the socio-economic situation by the Ho Chi Minh City Statistical Office, the total retail sales of goods and consumer service revenue in January reached VND 103,241 billion, an increase of 1.1% compared to the previous month and 24.4% compared to the same period last year.

As January is the month before the Lunar New Year, the demand for shopping tends to increase.

In addition, the increase compared to the previous month mainly comes from retail sales activities as this is the busiest time of the year for business, with many supermarkets and stores implementing promotional programs to stimulate consumer demand.

At the same time, to ensure supply and stabilize prices of essential goods before, during, and after the Lunar New Year, the city has issued a plan to implement the Market Stabilization Program for food, essential commodities, and educational supplies in 2023 – the Year of the Horse 2024.

Up to now, distribution systems in the area have maintained and ensured continuous supply for the people.

The Lunar New Year is the busiest business season of the year with supermarkets offering promotions to stimulate consumer demand. PHOTO: TÚ UYÊN

Accounting for 47.8% of the total retail sales of goods and consumer service revenue, in January, retail sales of goods reached VND 49,335 billion, an increase of 5.4% compared to the previous month and 15.5% compared to the same period last year.

Most groups of goods have increased in revenue compared to the same period last year, with the top three groups being the highest increase in proportion: food and groceries increased by 8.8%, household goods, tools, and equipment increased by 16.4%, and precious stones, precious metals, and products increased by 18.7%.

Service revenue for accommodation and dining reached VND 10,620 billion, a decrease of 1.4% compared to the previous month and an increase of 18.6% compared to the same period last year.

Among them, dining revenue reached VND 9,116 billion, accounting for 85.8%, a decrease of 1.3% compared to the previous month and an increase of 11.6% compared to the same period last year.

According to the assessment of the Ho Chi Minh City Statistical Office, usually before the Lunar New Year, the demand for dining and entertainment of the people increases, but currently, the city is implementing measures to ensure safety for participants in traffic, tightening checks on alcohol concentration violations. This has led to a slight decrease in revenue for some dining businesses in the area compared to the previous month.

In January, total foreign investment in the city reached $125.7 million.

From January 1 to January 20, total foreign investment in the city reached $125.7 million, equal to 70.2% compared to the same period last year.

Among them, there are 80 newly licensed projects, an increase of 60.0% compared to the same period last year, with registered capital reaching $23.8 million, equal to 27.4%.

Japan is the leading country in terms of newly licensed projects with eight projects and registered capital reaching $12.1 million, followed by South Korea with 13 projects and registered capital of $2.9 million, accounting for 12.3%…

There were 136 cases of foreign investors contributing capital, purchasing shares, and buying back contributed capital with a capital contribution of $93.0 million, an increase of 70.1% in capital compared to the same period last year.

Singapore and Hong Kong are the two countries with the highest proportion of capital contribution, accounting for 72.5% and 10.1% respectively.

Regarding adjusted registered capital, there were seven projects, equal to 35.0% compared to the same period last year, with adjusted capital reaching $8.9 million, equal to 23.7%.

TÙ UYÊN

SOURCEvietstock
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