Ministry of Industry and Trade proposes many solutions to stimulate domestic market

The Ministry of Industry and Trade is implementing many solutions to stimulate the domestic market, realizing the economic growth target of 8% or more in 2025.

Stimulating domestic demand and supporting businesses

Speaking at the seminar 'Solutions to strengthen and develop the domestic market' organized by the Association of Foreign Investment Enterprises (VAFIE) on the morning of April 25, Mr. Bui Nguyen Anh Tuan - Deputy Director of the Department of Domestic Market Management and Development ( Ministry of Industry and Trade ) - said: In 2025, the Government sets a target of GDP growth of 8% or more, with 3 main contributions: Domestic consumption, export and public investment. Thus, domestic consumption will account for about 60-65% depending on the year.

Seminar 'Solutions to strengthen and develop domestic market' organized by the Vietnam Association of Foreign Investment Enterprises (VAFIE) on the morning of April 25. Photo: Huu Thang

'Thus, to achieve the GDP growth target, the total growth rate of retail sales of goods and consumer service revenue must reach 12%. This is a very challenging number' - Mr. Bui Nguyen Anh Tuan affirmed and said: Through monitoring in the past 10 years, no year has exceeded 9%, not to mention the period of very low growth during the Covid-19 pandemic.

In addition, with the total increase in retail sales of goods and consumer service revenue in 2024 increasing by 9%, to achieve the target of 12%, each person and business must spend one and a half times more than last year.

In addition, in the context of many international fluctuations, based on the draft Master Plan and the Prime Minister 's instructions in Resolution No. 77/NQ-CP dated April 10, 2025, the Ministry of Industry and Trade has proposed a number of solutions.

First , stimulate domestic consumption. With a national communication campaign, strengthen communication activities to encourage people to use Vietnamese products and services, emphasizing the quality and value of domestic goods.

With this solution, campaigns will be deployed on multiple platforms, from television, newspapers to social networks, to raise consumer awareness and trust. Trade promotion programs. Organize large-scale shopping events, combining online and offline, with the participation of retail businesses, e-commerce platforms and the service industry.

Promotions and incentives will be designed to stimulate purchasing power, especially during low consumption periods.

In addition, promote domestic tourism by coordinating with the tourism industry to deploy promotional packages, connecting tourism experiences with local products and services, thereby promoting consumption and promoting Vietnamese culture.

According to Mr. Bui Nguyen Anh Tuan, the expected significance and impact of this group of solutions will contribute to increasing purchasing power, strengthening consumer confidence, creating conditions for businesses to expand market share and affirm domestic brands.

Second , support domestic enterprises. Proposed preferential financial policies include coordinating with the State Bank and credit institutions to implement preferential credit packages, focusing on enterprises producing essential goods and with high localization rates.

At the same time, propose tax policies to support businesses, especially those applying green technology and sustainable standards. Improve production capacity, support businesses in technological innovation, improve production processes and train high-quality human resources to meet international standards.

Besides, industrial promotion programs will be promoted to boost productivity and product quality.

Strengthen supply-demand connections, organize activities to connect manufacturing enterprises with modern distribution channels, especially in rural, remote and isolated areas, to expand the consumer market.

The expected significance and impact of these solutions according to Mr. Bui Nguyen Anh Tuan: Help businesses reduce costs, improve competitiveness, create more jobs and contribute positively to economic growth.

Mr. Bui Nguyen Anh Tuan - Deputy Director of the Department of Domestic Market Management and Development, Ministry of Industry and Trade - spoke at the seminar. Photo: Huu Thang

Ensuring supply and demand, encouraging new business models

Third , ensure supply and stabilize the market.

To implement this solution, there will be an early warning system. The Ministry of Industry and Trade plans to build a data platform to monitor supply-demand and prices, and apply modern technology to forecast and prevent risks of shortages or unreasonable price increases.

In addition, the market stabilization program guides localities to implement plans to reserve and distribute essential goods, and coordinate with businesses to ensure stable supply during peak periods.

Strengthen logistics, through investment in smart logistics infrastructure, applying technology to optimize transportation and reduce distribution costs.

According to Mr. Bui Nguyen Anh Tuan, these solutions will ensure the supply of essential goods, maintain stable prices and create conditions for businesses to operate effectively, strengthening consumer confidence.

Fourth , develop modern commercial infrastructure. This solution will upgrade traditional markets, apply digital technology to management and payment at markets, especially in rural areas, to increase efficiency and convenience for consumers.

Develop modern retail, encourage new distribution models, such as convenience store chains and shopping malls integrating local identity, to meet diverse consumer needs.

Along with that, organize national trade events, deploy specialized exhibitions to connect domestic enterprises with international partners, promote technological innovation and expand markets.

Mr. Bui Nguyen Anh Tuan believes that modern commercial infrastructure will help businesses reach consumers more effectively, while enhancing the position of Vietnam's retail industry in the region.

Fifth , promote digital transformation and sustainable development through activities such as cashless payments. Will support businesses to integrate digital payment solutions, coordinate with financial institutions to encourage consumers to use e-wallets and QR codes.

Smart retail, through investing in store models that apply AI and IoT technology, optimize customer experience and supply chain management. Sustainable development standards - Building a set of environmental, social and governance (ESG) criteria to guide production and consumption businesses towards green and sustainable.

Accordingly, digital transformation will help businesses reduce costs, improve efficiency and meet modern consumption trends, while contributing to building an integrated and competitive domestic market.

The Ministry of Industry and Trade also proposes that the Government and the Prime Minister issue fiscal support policies, such as: Extending value-added tax reduction, and synchronously directing domestic market development programs.

Along with that, it is proposed that the State Bank coordinate and implement preferential credit packages, especially for businesses applying green technology and sustainable production.

Propose relevant ministries and sectors to review and simplify administrative procedures, digitize supply chain processes and support international trade promotion. Call on the business community and consumers to actively participate in stimulus programs, apply digital technology and prioritize the use of Vietnamese products.

Mr. Bui Nguyen Anh Tuan said that close coordination between the parties will ensure the feasibility of the plan, create momentum for economic growth and strengthen the role of the domestic market.

According to economic experts, with a domestic market of over 100 million people, Vietnam has more opportunities to achieve its economic growth target of 8% or more in the context of the export market facing challenges from global trade policies.

Nguyen Hoa

Source: https://congthuong.vn/bo-cong-thuong-de-xuat-nhieu-giai-phap-kich-cau-thi-truong-noi-dia-384791.html