VOV.VN - The retail prices of petrol were further reduced in the latest price adjustment made on March 21 by the Ministries of Industry and Trade, and Finance.

Retail stocks have dropped significantly due to the decline in business results in the context of the global economic recession and high interest rates.

Measures have been taken to effectively exploit the domestic market with a population of nearly 100 million to fulfil the goal of an increase of 8-9% in retail sales of goods and services, according to the Ministry of Industry and Trade (MoIT).

Vietnam’s retail market has seen positive signs of recovery, especially domestic demand, after COVID-19.

Vietnam’s total retail sales of goods and services in the first two months of this year were estimated at VND994.2 trillion (US$41.88 billion), up 13% year-on-year, according to the General Statistics Office (GSO).

The Ministry of Finance has proposed to increase the special consumption tax (SCT) on a number of items harmful to health including tobacco, beer, and alcoholic products to limit imports, production and consumption.

Vietnamese longan is much welcomed in Japan although its retail prices are high, which brings a big opportunity for local farmers.

Central Retail Corporation (CRC), the largest retailer of Thailand, has announced its biggest investment in Vietnam at 50 billion baht (US$1.45 billion) in the 2023-2027 period to accelerate its market presence in the country.

Ho Chi Minh City recorded a year-on-year rise of 5.7% in total retail sales of goods and consumer service revenue in January, according to its Department of Industry and Trade.

Vietnam’s total retail sales of goods and services in January was estimated at VND544.8 trillion (US$23.22 billion), up 5.2% from the previous month and 20% as compared with the same period last year, according to the General Statistics Office (GSO).