Total retail sales of goods and consumer service revenue increased 13.9% year on year to over VND1.5 quadrillion (US$63.9 million) in the first quarter of 2023, compared to the 5% growth in the same period of 2022, the General Statistics Office (GSO) reported.

VOV.VN - The nation is rapidly becoming an attractive retail market for companies globally, particularly as many regional and global FDI investors recently revealed their plans to increase capital and expand distribution networks in the Vietnamese market.

VOV.VN - Foreign retail giants such as Central Retail, AEON, and MM Mega Market have set their sights on capturing a larger share of the Vietnamese market, according to industry insiders.

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.