Retail sales, services revenue up 8.5% in four months

In April alone, the value was VND522.1 trillion, a rise of 9% from the same period last year, with food and foodstuff sales up 10.3%, household utensils 12.9%, garment 12.7%, lodging and catering services 19.1%, and tourism 57.6%.

In the four months, retail sales reached some VND1.59 quadrillion, up 7.1% year-on-year (up 4.4% if the price factor is excluded).

Sales of food and foodstuffs rose by 11.8%, household appliances 14.9%, garment 10.3%, vehicles (except cars) 0.1%, and cultural and educational products 17.8%. Revenue from accommodation and catering services was estimated at VND237.3 trillion, up 15.3% year-on-year.

The office said favourable visa policies and tourism stimulus programmes have proven effective, helping lure nearly 1.6 million international visitors in April, up 58.2% year-on-year, and 6.2 million in the four months, up 68.3%.

Tourism revenue in the period was VND19.4 trillion, representing an increase of 49.3% from the corresponding time last year.

Meanwhile, revenue from other services stood at VND211.1 trillion, a year-on-year rise of 9.4%.

To ensure the supply of essential goods and boost the domestic market in the remaining months, the GSO suggested the Ministry of Industry and Trade (MoIT) further review, amend and perfect legal documents regarding state management of the domestic market.

The MoIT should continue its coordination with other ministries, agencies and localities in monitoring market developments, and providing consultations in price management, it said.

In an effort to promote consumption demand, Minister of Finance Ho Duc Phoc, authorised by the Prime Minister, submitted a proposal to the National Assembly for extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services from July 1 until the end of the year.