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 328.58 trillion VND (14.47 billion USD), accounting for 65.3 percent of the city’s total earnings from retail sales and services and up 12.9 percent from the same time last year.

Customers shop at a supermarket in HCM City. (Photo: VNA)

Customers shop at a supermarket in HCM City. (Photo: VNA)

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 19.65 trillion VND (865.6 million USD) 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.

Vietnamplus

Other news

Most view

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market