Businesses have reportedly stocked up sufficient goods for Tet (Photo: VNA)

Hanoi (VNA) – The domestic market will continue to thrive in 2016, Director of the Ministry of Industry and Trade’s Domestic Market Department Vo Van Quyen has said.

The prediction has initially been confirmed by the positive retail sales at the outset of this year.

The purchase power in January, prior to the Lunar New Year festival (Tet) which falls on February 8, grew fairly from a year earlier, Quyen said at a meeting of the ministry on February 1.

Meanwhile, the consumer price index stayed flat compared to December, helping stabilise the domestic market.

He said his agency has ordered the departments of industry and trade of 53 of the 63 provinces and centrally-run cities to ensure the supply of goods meets demand and at stable prices during Tet, while surveillance should be stepped up to prevent counterfeit and low-quality goods.

Deputy Minister Tran Tuan Anh said in addition to export, the domestic market has received special attention by the ministry, as well as the Government and National Assembly in recent years.

The domestic market is instrumental to national economic growth, he added.-VNA