Vietnam prepares domestic trade strategy

Last update 09:56 | 05/05/2017

A strategy is being developed to promote domestic trade by 2025 with a vision to 2035.

Vietnam prepares domestic trade strategy, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam reaking news

Consumers shop at Co.op Mart in Vinh Phuc Province. Viet Nam is developing a strategy to promote domestic trade. 

“The development of domestic trade lacks a comprehensive strategy despite its important role in the economy,” said Pham Nguyen Minh, Director of the Viet Nam Institute for Trade, at a workshop held yesterday to collect comments for the domestic trade development strategy by 2025.

Minh said special attention should be paid to developing supplying chains as well as infrastructure for goods circulation.

economic

Vo Van Quyen, Director of the ministry’s Domestic Market Department, said the strategy will tackle issues related to the organisation of traditional and modern distribution channels and the development of trade infrastructure together with business models.

The strategy also targets enhancing the role of domestic firms in the context of rapid international integration, Quyen said, noting that domestic trade must be compliant with commitments to the World Trade Organisation and other bilateral and multilateral trade agreements related to the opening of the domestic market.

Project official Le Trinh Minh Chau said it was critical to improve the business climate and ensure transparency and fairness for firms so as to promote the development of the wholesale and retail industry.

Experts also said a focus should also be placed on developing e-commerce, preventing trade fraud and promoting the sale of Vietnamese goods.

The Ministry of Industry and Trade has addressed domestic trade among its major tasks this year. The total retail sales of goods and services was equivalent to 86 per cent of the gross domestic product in 2016, up from 77.3 per cent in 2015, the ministry’s data showed.

Purchasing power up

Updates from the General Statistics Office show that the total retail sales of goods and services in April reached VND317.5 trillion (US$13.9 billion), up 1.7 per cent over the previous month and an 11.1 per cent year-on-year increase.

For the January-April period, total retail sales jumped 9.6 per cent to reach VND1.27 quadrillion, but if inflation was excluded, the rise was only 6.7 per cent, lower than the increase of 7.8 per cent of the same period last year.

Sales of food and foodstuffs grew 10.5 per cent and garment products 8.6 per cent. Accommodation and catering services rose 11.3 per cent, while tourist services increased 6.3 per cent.

Despite increases in purchasing power, the consumer price index was unchanged in April compared to the previous month, but up 4.3 per cent over the same period last year and 0.9 per cent over December.

VNS

Advertisements
This entry was posted in Doanh nghiệp nhỏ - small enterprises, Doanh nghiệp tư nhân - Private enterprises, Doanh nghiệp vừa - medium enterprises, Economics - Kinh tế, Hạ tầng thương mại - Business infrastructures and tagged , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

Trả lời

Mời bạn điền thông tin vào ô dưới đây hoặc kích vào một biểu tượng để đăng nhập:

WordPress.com Logo

Bạn đang bình luận bằng tài khoản WordPress.com Log Out / Thay đổi )

Twitter picture

Bạn đang bình luận bằng tài khoản Twitter Log Out / Thay đổi )

Facebook photo

Bạn đang bình luận bằng tài khoản Facebook Log Out / Thay đổi )

Google+ photo

Bạn đang bình luận bằng tài khoản Google+ Log Out / Thay đổi )

Connecting to %s