Leading economic experts forecast an optimistic growth outlook for Vietnam in 2021 despite the COVID-19 pandemic.

The total retail sales and service revenue surged 10.02% year-on-year to VND1.695 quadrillion (over US$73.5 billion) in the first four months of 2021, according to the Ministry of Industry and Trade (MoIT).

Catching up with new retail trends to bring a new shopping experience to customers will help Vietnamese retailers seize the lion’s share of the market, especially after a number of foreign players have shut up their shops, according to insiders.

The Ministry of Industry and Trade has called for concerted solutions to maintain market stability, remove difficulties facing domestic firms, and increase the total retail sales of goods and services.

VOV.VN - With the COVID-19 pandemic causing plenty of difficulties for production and business activities and the added value of the industrial sector in Q1 set to endure a slight fall, the Ministry of Industry and Trade (MoIT) is striving to help the sector achieve a growth rate of 9.45% and export growth of up to 5%.

HCM City’s economy saw a variety of bright spots in the opening month of 2021 despite the ongoing complex developments of the COVID-19 pandemic.

Total retail sales of goods and revenue from consumer services in January are estimated at VND479.9 trillion (nearly US$20.77 billion), up 3.7% month-on-month and 6.4% year-on-year, according to the General Statistics Office (GSO).

Deeper integration into the global value chain while developing an increasingly independent and self-controlled economy are both a requirement and a solution to help Vietnam overcome the challenges to realise its goal of rapid and sustainable development, according to Party Central Committee and Minister of Industry and Trade Tran Tuan Anh.

Hanoi will carry out an array of industry and trade development measures with a view to building the capital city into an international trade hub in the region and the country, as well as concretising the resolution adopted at the municipal Party Organisation's 17th congress.

Vietnam’s total revenue from retail trade and services reached over VND5 quadrillion (US$219.5 billion) in 2020, representing a modest yearly rise of 2.6%, according to the General Statistics Office (GSO).