Illustrative image (Source: VNA)
 
HCM City (VNA) – The southern economic hub Ho Chi Minh City has set the target of achieving 6.82 – 9.06 percent growth in the total retail and consumer services from 2026-2030.

It is set under a master plan on trade sector development until 2025 with orientations to 2030 recently issued by the municipal People’s Committee.

Accordingly, services sector will contribute to at least 58 percent of the gross regional development product until 2020. The total retail and consumer services will expand by 8.55 – 11.53 percent annually while retail via shopping malls and supermarkets will reach at least 40 percent of the total.

From 2021-2025, the respective figures will 10.89 – 14.02 percent and at least 50 percent.

In order to achieve the above targets, the city plans to build and upgrade parking lots and warehouses around markets, and ensure food hygiene and safety with clear origin to improve competitiveness.

The city is expected to have at least five leading retailers in Vietnam between 2025 and 2030. It also encourages the opening of convenience outlet chains to meet demand in outlying areas, industrial and processing zones, and apartment buildings.

According to the municipal Department of Industry and Trade, Ho Chi Minh City is home to 239 markets, including three wholesale markets, 14 first-grade and 54 second-grade markets, and the remaining are third-grade and makeshift markets.

The city records 207 supermarkets and 43 shopping malls, 1,800 convenience stores and mini markets in the inner and outlying areas.

Deputy Director of the municipal Department of Industry and Trade Nguyen Phuong Dong said the city’s retail market has thrived with the emergence of more shopping destinations for local residents.-VNA