Shaping policies to promote domestic trade

Vietnam's retail market is currently in a development stage. (Photo: KIM DUNG)

Development policy orientation domestic trade is a long journey, requiring cooperation and consensus from the central to local levels, from state management agencies to the business community, industry associations and people.

Strong transformation

The new context is bringing many changes in commercial development. New technologies such as artificial intelligence (AI), big data, blockchain… have profoundly changed the way of production, distribution and consumption. E-commerce developing strongly, reshaping people's shopping behavior. New generation free trade agreements (FTAs) have both opened up export opportunities and posed challenges due to fierce competition from imported goods.

Meanwhile, consumers have paid more attention to the quality and origin of goods; the requirements for green production, sustainable consumption, and circular economy have also become increasingly urgent. “In that context, the domestic market must transform strongly, not only as a place to consume products but also as an important driving force to promote production, create jobs and ensure social security,” emphasized Deputy Director of the Department of Domestic Market Management and Development ( Ministry of Industry and Trade ) Bui Nguyen Anh Tuan.

The Politburo has issued Resolution 57-NQ/TW December 22, 2024 on breakthroughs in science , technology, innovation and national digital transformation, opening a new era for the domestic market. Applying technology and digital transformation will help the market become more transparent and efficient with diverse distribution channels from traditional to online. Businesses will have the opportunity to access a wider market, while optimizing operating processes, reducing costs and increasing competitiveness.

Resolution No. 59-NQ/TW dated April 30, 2025 of the Politburo on international integration in the new situation affirms: Integration is not only about exporting but also opening up to receive new flows of goods, services and technologies, creating healthy competition, promoting domestic enterprises to improve their capacity. Vietnam needs to make the most of the signed FTAs to expand market space, while at the same time reasonably protecting domestic production and consumer rights.

Resolution No. 66-NQ/TW dated April 30, 2025 of the Politburo on innovation in law-making and enforcement to meet the requirements of national development in the new era is a key factor in creating a stable, transparent and fair business environment. A strict, easy-to-understand and easy-to-implement legal system will be a guarantee for the development of the domestic market.

Next, Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development affirms the important driving role of this economic sector. The private economy is the lifeblood of the domestic market, which creates the majority of jobs, products and services. Removing all barriers, ensuring property ownership and business freedom will unleash the enormous potential of the private economy, helping the domestic market become more vibrant and diverse. The Ministry of Industry and Trade determined that the effective implementation of the above "Quad Resolutions" will be the guiding principle for all domestic market development activities in the coming time.

Market management and supervision

According to economic experts, the Vietnamese retail market is currently in a development phase and has a breakthrough after the pandemic. In the period 2025-2030, the market is expected to achieve stronger growth, competitive enough with leading countries in the region.

However, according to Vice President of the Vietnam Retailers Association Tran Thi Phuong Lan, businesses still face a challenging market as consumer demand remains weak and people are increasingly sensitive to prices. In addition, there is fierce competition between domestic and foreign brands with the participation of many new competitors, including many foreign businesses when commitments to open the retail market are implemented, especially large e-commerce platforms.

In order for the domestic retail industry to develop more rapidly, management agencies need to continue to perfect the policy system, improve the investment and business environment and reform administrative procedures; enhance the effectiveness of law enforcement on domestic trade development, ensure fair competition and sustainable development; at the same time, improve the competitiveness of Vietnamese retail enterprises through financial and human resource support policies as well as specific support policies for enterprises developing trade infrastructure in remote, mountainous and island areas, etc.

Source: https://baoquangninh.vn/dinh-hinh-chinh-sach-thuc-day-thuong-mai-trong-nuoc-3382989.html