Deputy Prime Minister Le Van Thanh has approved a trade development programme in remote, mountainous and island areas for the 2021-2025 period, which will be implemented in 287 districts of 48 provinces and cities nationwide.
Vietnam and Ho Chi Minh City in particular are considered to hold promise for retailers from home and abroad on the back of the large, young population and rising consumer price index amid the COVID-19 pandemic.
The southern province of Binh Duong attracted about 1.7 billion USD of foreign direct investment (FDI) in the first 10 months of this year, exceeding the goal set for the whole year by 19 percent.
Boosting exports to the US market via e-commerce platforms like Amazon is effective in the context of the extensive business quagmire caused by the COVID-19 pandemic, according to insiders.
Retail sales of goods and services in Vietnam reached 4.94 quadrillion VND (214.8 billion USD) in 2019, representing a rise of 11.8 percent over the previous year, according to the General Statistics Office (GSO).
The total retail sales of goods and services of the Central Highlands province of Dak Lak in the first 10 months of this year increased 13.7 percent year-on-year to over 66.3 trillion VND (more than 2.84 billion USD), according to the provincial Department of Statistics.
Goods and services trading continued its upward trend in the January-April period with the retail sale value increasing at the highest rate since 2015.
Hanoi has recorded a GDP growth rate of 6.99 percent in the first quarter of this year, equivalent to the same period in 2018, it was reported at a meeting of the municipal People’s Committee on March 26.
The Vietnamese Government should paid due attention to outlining policies to promote breakthrough technologies as well as to bolster digital economic development in the context of the Fourth Industrial Revolution, World Bank Country Director for Vietnam Osmane Dione said on March 7.
Vietnam’s gross domestic product (GDP) expanded 7.08 percent in the first half of the year, marking the highest rate since 2010, fueled by robust expansion of the industrial and construction sector and service sector, according to the General Statistics Office (GSO).
The e-commerce market has taken off in Vietnam thanks to booming internet usage and smartphone ownership, along with massive investments from key retail players, local media reported.
Both foreign and domestic banks are racing to develop retail sale strategies in Vietnam, the 93-million-people country-a fertile land for banking retail business.
Vietnam’s total retail sale and service revenues saw a year-on-year increase of 9.3 percent to some 2,896.6 trillion VND (126 billion USD) in the first ten months of 2016.
Business
