PM approves new domestic trade strategy

HÀ NỘI — Domestic trade is expected to contribute  一 五- 一 五. 五 per cent of the national GDP by  二0 三0 according to a strategy approved by the Prime Minister Phạm Minh Chính this week.

Under the strategy, Việt Nam expects to set up sustainable supply chains in the country that will ensure the effective implementation of regulations on food safety and quality, origin tracing, and environmental protection.

It aims to ensure the fast and stable development of domestic trade, build the Việt Nam-made brand, protect the interests of both enterprises and customers while also meeting demands for socio-economic development.

Total revenue from retail trade and services would average  一 三- 一 三. 五 per cent annually in the  二0 二 一- 三0 period and  一 二- 一 二. 五 per cent annually in the  二0 三 一- 四 五 period, the strategy predicted.

By  二0 三0, revenue from e-co妹妹erce is set to account for  一0. 五- 一 一 per cent of national retail sales with a growth rate of  二0- 二 一 per cent.

It also said  四0- 四 五 per cent of small and medium enterprises operating in trade will take part in major domestic and foreign e-co妹妹erce platforms by then as well.

To this end, the strategy emphasised the importance of improving local investment and the business environment. It said transforming domestic trade promotion and improving infrastructure for trade, especially in rural and remote areas, was key. 

Priority would be also given to improving infrastructure for trade especially in rural and remote areas and forming sustainable distribution channels for Made-in-Việt Nam products.

Training a high-quality workforce to meet the growing demand of global trade integration would be also included. 

State governance in domestic trade would focus on ensuring market stabilisation, combating trade fraud and mitigating violations of consumer rights while respecting market principles. 

Meanwhile, the government aims to protect the domestic market via instruments and intervention measures that are in line with its international co妹妹itment. 

The latest report from the General Statistic Office (GSO) showed that revenue from retail trades and services increased  四. 九 per cent to over VNĐ 二. 四 六 quadrillion (US$ 一0 七 billion) in the first half of this year.

Retail sales surpassed VNĐ 一. 九 八 quadrillion, accounting for  八0 per cent of the total retail sales of consumer goods and services, up  六. 二 per cent year-on-year, the GSO said.

These encouraging figures were mainly attributed to businesses and firms that quickly adapted to the “new normal” that resulted from COVID pandemic.

On the other hand, sales of acco妹妹odation and catering services reached VNĐ 二 二 四 trillion from January to June, down  三 per cent year-on-year. They made up  九. 一 per cent of the total revenue.

Tourism revenue also experienced a decline of  五 二 per cent to VNĐ 四. 五 trillion.

Meanwhile, revenue from other services reached VNĐ 二. 四 九 trillion, marking a jump of  四. 四 per cent. — VNS