Ho Chi Minh City’s retail market thrives
Ho Chi Minh City’s revenue from retail sales in the first half of this year is estimated at more than VND328.58 trillion (US$14.47 billion), accounting for 65.3% of the city’s total earnings from retail sales and services and up 12.9% from the same time last year.
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The municipal Department of Industry and Trade said on June 5 that the robust development of the local retail market has created opportunities for domestic producers and suppliers.
The market has been rather stable and there is no scarcity of products or price shocks during the January-June, said Nguyen Phuong Dong, vice director of the department.
Along with the price stabilisation programmes, the department launched the “Vietnamese people prioritise Vietnamese goods” campaign in which products must ensure food quality, safety and hygiene. The event drew the participation of 90 organisations, including 78 businesses and 12 credit organisations.
Loans worth VND19.65 trillion (US$865.6 million) in total were offered to businesses joining in the price stabilisation programmes in the city.
Since the outset of the year, the southern largest economic hub has accelerated brand building, and improved prestige for the programmes in general and local businesses in particular by stepping up communications campaigns and supporting enterprises in expanding markets.
Provinces and cities in the southeast and southwest regions have received assistance to carry out the price stabilisation programmes. Meanwhile, assistance has been given to many firms to renew their production facilities.
In addition, the city has developed the network of price stabilisation shops which sell made-in-Vietnam products, and products cultivated in line with VietGAP and GlobalGAP standards.
Logo of the price stabilisation programmes will be labeled on specific products to raise the public awareness of the programmes’ significance and efficiency.
