Domestic trade expected to keep rising later this year

A ceremony to sign agreement on launching the campaign "Vietnamese people prioritise Vietnamese goods"

Hanoi (VNA) – Domestic trade is expected to continue rising this year, experts have forecast.

Total retail and services value this year is estimated to hit 3.9 trillion VND (168.7 million USD), up more than 10 percent annually, meeting the yearly target.

To that end, the Ministry of Industry and Trade (MoIT) will embark on 71 projects and a domestic market development scheme in combination with the campaign “Vietnamese people prioritise Vietnamese goods” for 2014-2020.

It will also promote domestic trade, particularly during the New Year holiday and the year’s end, refine trade and distribution infrastructure and develop supply chains with a focus on farm produce.

MoIT statistics showed that total retail and services value hiked 10.16 percent to 1.9 trillion VND (83.65 million USD) in the first half.  

Trade experts said exclusive of inflation, total retail and services value increased about 8.4 percent, higher than 4.8-7.6 percent from 2011-2016, showing that purchasing power is recovering.-VNA

VNA