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.
Although the EU-Vietnam Free Trade Agreement (EVFTA) appears to be a boon for Vietnamese pepper, expanding market reach in Europe requires much more than FTA-induced tariff advantages.
The Ministry of Industry and Trade (MoIT) has forecast that domestic consumption demand will recover and grow thanks to high vaccination coverage and the reopening of the tourism sector.
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.
A national promotion month - Vietnam Grand Sale 2021 - was launched on December 1, with the aim of removing difficulties, seeking opportunities to expand markets, promoting domestic consumption, and recovering business in the post-COVID-19 pandemic period.
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.
Hanoi’s consumer price index (CPI) in January grew 0.22 percent from the previous month and 3.92 percent year on year, according to the city’s Statistics Office.
Domestic trade and services have played an important role in meeting people’s consumption demand and contributing to the economy’s growth in recent years, an official of the Ministry of Industry and Trade (MoIT) has said.
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.
Senior advisor to India’s Energy Efficiency Services Limited company Satish C. Mehta expressed the company’s willingness to assist the Mekong Delta city of Can Tho in the effective use of energy.
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