Hanoi (VNA) – Prime Minister Pham Minh Chinh has approved a strategy for developing Vietnam’s retail market through 2030, with a vision to 2050, under Decision No. 2326/QD-TTg.
The strategy envisions a civilised, modern, and sustainable retail market aligned with domestic trade development orientations, international commitments, and development trends of e-commerce, the digital economy, the green economy, and the sharing economy. It aims to better connect production and consumption, stimulate domestic purchasing power, and promote Vietnamese goods globally, thereby helping enhance Vietnamese products' competitiveness and enable omestic retailers to further engage in the global retail market.
Vietnam targets average annual growth of 11–11.5% in total retail sales of goods and consumer service revenue by 2030, along with 15–20% in e-commerce sales, accounting for 15–20% of the total. Besides, 40–45% of small and medium-sized enterprises (SMEs) are expected to join online platforms.
Under the strategy, retail market policies will be gradually perfected while the business environment improved to shape a fair, transparent, and competitive market attracting capable and reputable retailers. Vietnamese businesses will be encouraged to promote innovation and adopt modern retail models.
All economic sectors will be supported to develop the retail market through suitable forms and scales. Meanwhile, preferential financial and land mechanisms and policies will be created for the formation of a core domestic distribution force. Large distribution enterprises will take shape, with private firms playing the core role in market development.
The strategy also looks to diversify retail formats, promote modern distribution systems such as supermarkets and convenience stores, and integrate multi-channel models combining e-commerce with traditional retail. Investment will focus on developing mixed commercial and service complexes centred around traditional markets and shopping streets.
Strong development of modern and multi-channel retail forms such as online, mobile, television, and social media-based retail is a priority. In addition, the legal framework will be improved to facilitate businesses’ research and operation of digital trading platforms using advanced technologies, and ensure fair treatment among retail types in line with international law and practices.
The strategy highlights the establishment of supply chain linkages between production and distribution, particularly for essential agricultural and food products, to ensure supply – demand balance and strengthen food safety management. It also promotes sustainable and eco-friendly supply chains and the development of environmentally certified products.
Besides, the country aims to assist with businesses' digital transformation and expand cross-border trade through online platforms./.
VNA
