In order to strengthen trade promotion efforts, effectively implement programs and projects on domestic market development; promptly implement solutions to stimulate consumer demand and boost domestic trade; and strive for a growth rate of approximately 9% in total retail sales of goods and consumer service revenue compared to 2023; To strive for the comprehensive and successful implementation of the 2024 socio-economic development plan, creating favorable momentum to achieve the highest possible targets of the 2021-2025 five-year socio-economic development plan as directed by the Government in Resolution No. 01/NQ-CP dated January 5, 2024, the Ministry of Industry and Trade issued Decision No. 2245/QD-BCT dated August 21, 2024, on organizing the "National Concentrated Promotion Program 2024 – Vietnam Grand Sale 2024" (hereinafter referred to as the Program) from December 2, 2024, to December 31, 2024.
In his opening remarks at the program, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan stated that in recent times, Vietnam's trade, services, and tourism have shown positive recovery; total retail sales of goods and consumer service revenue in October were estimated at VND 545.7 trillion, an increase of 7.1% compared to the same period last year. For the first ten months of 2024, total retail sales of goods and consumer service revenue at current prices were estimated at VND 5,246.2 trillion, an increase of 8.5% compared to the same period last year. In October this year, the country saw the establishment of 14,200 new businesses, an increase of 26.5% compared to the previous month; total import and export turnover of goods was estimated at USD 69.19 billion, an increase of 5.1% compared to the previous month and an increase of 11.8% compared to the same period last year.
However, the global situation continues to be complex, with escalating military conflicts in some regions; the global economy is recovering slowly and unevenly across countries and regions. Domestically, the macroeconomic situation remains stable, inflation is under control, growth is being promoted, and major economic balances are being ensured, but many difficulties and challenges still remain, especially the heavy damage caused by natural disasters, storms, and floods in many localities.
Deputy Minister Nguyen Sinh Nhat Tan expressed his confidence that, with the support of localities, industry associations, businesses, and especially tens of millions of Vietnamese consumers, the 2024 National Concentrated Promotion Program will be one of the important and practical contents in implementing the key tasks and solutions set forth by the Ministry of Industry and Trade, helping to maximize the exploitation of the recovering domestic market to increase total retail sales of goods and consumer service revenue in the latter part of the year, contributing to maintaining high economic growth.
The "National Concentrated Promotion Program 2024" is organized simultaneously nationwide by the Trade Promotion Department, in coordination with relevant units of the Ministry of Industry and Trade; Departments of Industry and Trade of provinces and centrally-administered cities; associations and industries; and relevant businesses and organizations. This program aims to launch, guide, and support businesses in implementing promotional programs combining traditional and e-commerce, creating a ripple effect and attracting the participation of manufacturing and business enterprises in all sectors. All businesses have the right to participate in the "National Concentrated Promotion Program 2024" by proactively carrying out various promotional activities with diverse and attractive content aimed at customers and consumers; and to proactively decide on the maximum promotional limit (up to 100%). In addition, businesses must conduct promotional activities that are legal, honest, open, transparent, and ensure the legitimate rights and interests of consumers; and guarantee the quality of goods and services in accordance with current regulations.
According to Clause 4 and Point b, Clause 5, Article 6 of Decree No. 81/2018/ND-CP, "In cases of organizing concentrated promotional programs (Lunar New Year period: 30 days before the first day of the Lunar New Year), the maximum limit on the value of goods and services used for promotion is 100%." Therefore, according to the above Decision and regulations, businesses are allowed to conduct promotions up to 100% from December 2, 2024 to January 31, 2025.
In accordance with the Government's directive on improving mechanisms, policies, and legal regulations, including the requirement to review, reduce, and simplify administrative procedures and business regulations to create favorable conditions and reduce compliance costs for people and businesses, after four (04) years of implementing the National Concentrated Promotion Program, the Ministry of Industry and Trade has proactively reviewed and submitted to the Government for promulgation Decree No. 128/2024/ND-CP amending and supplementing a number of articles of Decree No. 81/2018/ND-CP dated May 22, 2018 detailing the Law on Commerce on trade promotion activities (Decree effective from December 1, 2024). The new decree has reduced and simplified all 10 administrative procedures related to promotions and trade fairs, including 5 out of 7 forms of promotion that no longer require notification (for example, promotional activities such as price reductions and gift giving will not require such procedures). Thus, it is expected that hundreds of thousands of administrative procedures related to promotions will be abolished annually, reducing compliance costs for businesses by over 90% and decreasing the number of applications for promotion-related procedures by 90% annually.
Building on the achievements of previous years, and in conjunction with the promotional activities, trade facilitation, demand stimulation, development, and strengthening of supply chain linkages implemented by the Ministry of Industry and Trade, along with new policies and laws on trade promotion, the "National Concentrated Promotion Program 2024 – Vietnam Grand Sale 2024" is expected to achieve breakthrough results compared to previous years, helping to increase retail sales of goods and services revenue, contributing to the strong growth of Vietnam's economy in 2024.
Also at the ceremony, Deputy Director of the Trade Promotion Department Le Hoang Tai stated that after four consecutive years of implementation (from 2020 to the present), the National Concentrated Promotion Program has shown many positive results, attracting strong interest and support from the business community and consumers nationwide. The 2023 National Concentrated Promotion Program attracted nearly 75,000 promotional programs implemented by businesses, contributing to a total retail sales of goods and consumer service revenue of approximately VND 565.8 trillion in December 2023, an increase of 2.6% compared to November 2023 and a 9.3% increase compared to the same period in 2022. These results have significantly contributed to the successful implementation of the tasks assigned to the Ministry of Industry and Trade by the Government in Government Resolutions on stimulating domestic consumption, promoting the consumption of Vietnamese goods, and boosting the production, circulation, and consumption of goods.
For this year's program, with early planning and enthusiastic participation from businesses, it is expected to achieve more results than in previous years, contributing to the development of the economy.
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