However, cost pressures, cautious consumer spending and the widespread presence of counterfeit and imitation goods are creating additional challenges for the domestic market.

A key challenge, according to experts, is how to further promote the “Vietnamese people use Vietnamese goods” campaign while strengthening intellectual property protection to support stronger economic growth.

For years, Binh Minh Plastics has repeatedly faced counterfeit products using similar names, logos and colours to mislead consumers. In the construction materials and water pipe sector, counterfeit and imitation goods not only cause economic losses for businesses but also pose risks to construction quality and public health.

Hoa Viet, Sustainable Development Director of Binh Minh Plastics JSC, said protecting “real value, genuine products and real quality” is essential to restoring consumer confidence. According to him, protecting intellectual property rights not only safeguards legitimate businesses and consumers but also helps strengthen national credibility.

According to experts, reviving consumer demand requires stronger market protection measures as well as lower cost burdens for both businesses and consumers.

During the past four months of 2026, more than 108,000 businesses exited the market, up 12.8% year-on-year. The number of dissolved businesses nearly doubled, mainly among small and medium-sized enterprises, while many household businesses are concerned about tighter invoice and documentation requirements.

At a seminar held recently on stimulating consumer demand, experts said fluctuations in global fuel and raw material prices have pushed domestic goods and service prices up by 20-22%.

To ease pressure on businesses and consumers, Dr. Pham Viet Thuan, Director of the Ho Chi Minh City Institute of Natural Resources and Environment Economics, proposed reducing value-added tax on essential goods to 0% and reviewing fees and charges for possible reductions or

Experts emphasized that modern retail systems play a key role in connecting production and consumption and supporting the domestic market. Vietnam currently has around 6 million household businesses employing nearly 50 million workers, making support from domestic retail networks particularly important.

Nguyen Ngoc Thang, Deputy General Director of Saigon Co.op, said retailers need to take the lead in green consumption trends and digital transformation while continuing supply-demand connection programmes and supporting small businesses and cooperatives in improving packaging and product traceability to meet new consumer trends.

The Ministry of Industry and Trade of Vietnam will continue implementing measures to support businesses and protect the domestic market, including promoting multi-channel sales, improving logistics and expanding markets in rural and mountainous areas.

Nguyen Thanh Nam, Deputy Director of the Agency for Domestic Market Surveillance and Development under the Ministry of Industry and Trade, sai efforts to combat smuggling, trade fraud and counterfeit goods on e-commerce platforms will continue to be tightened to protect consumers and ensure a fair competitive environment for businesses.

For the domestic market to become a sustainable driver of economic growth, longer-term policies are needed alongside short-term discount programmes, including measures to reduce cost pressures, improve the business environment, enhance product quality, protect legitimate businesses and strengthen consumer confidence, experts stressed.

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