A sharp rise has been recorded in foreign trade over the past few months, and if this upward trend is sustained, this year’s foreign trade turnover is likely to break the record of 732 billion USD set in 2022.
It’s a big challenge for the economy to reach this year’s GDP growth target of 6.5%, and economic expansion is hoped to be boosted by some important demand factors in the second half of 2023, experts have said.
Experts believe outlet stores would provide an effective solution to the problem of lukewarm consumption demand as they encourage consumers to spend more on deeply-discounted products.
Ho Chi Minh City needs to be supported by specific mechanisms and policies that are strong enough to remove bottlenecks faced by the city and enable it to create breakthrough developments, experts said.
The Indonesian government has set a target to produce 2 million tonnes of shrimp annually starting in 2024 to meet the consumption demand in the context that the country's population is projected to reach 318.9 million by 2045.
Ho Chi Minh City recorded a year-on-year rise of 5.7% in total retail sales of goods and consumer service revenue in January, according to its Department of Industry and Trade.
According to the Hanoi Department of Industry and Trade, Vietnamese brand building aims to connect trade and promotion to increase domestic consumption. The efforts are aimed at recovery, specifically stimulating consumer spending now that the COVID-19 pandemic is subsiding.
Total retail sales of goods and service revenue in Ho Chi Minh City approximated 239.27 trillion VND (10.4 billion USD) in February, down 5.4 percent month on month but up 11.2 percent year on year.
Vietnam recorded a year-on-year increase of 2.79 percent in the consumer price index (CPI) in 2019, the lowest level in the past three years, the General Statistics Office (GSO) said on December 27.
As the country’s consumption demand increases to match national economic progress, more and more foreign retailers are entering the Vietnamese market to a warm welcome from buyers, while Vietnam’s domestic brands look for their own growth strategies against the newcomers.
