Business activities at Dong Xuan market are stable.

Seller is just temporarily out of business

As reported by Hanoi Moi Newspaper on the afternoon of June 4, business activities at Dong Xuan Market are still very busy. Although people's shopping needs have decreased somewhat, the kiosks on the 3 floors of the market are still open. Not only domestic customers, there are also many foreign visitors coming to visit and shop.

This reality is contrary to previous information, such as "Dong Xuan market is unusually quiet", "kiosks are closed" due to the peak period of inspection, prevention and control of smuggled and counterfeit goods.

Explaining the fact that kiosks and stores have been closed recently, traders at the market said that this situation has been going on for many years since the Covid-19 pandemic. This is also a common situation in many other markets.

Ms. Do Thi Hoi, a clothing seller on the 3rd floor of Dong Xuan market, said that e-commerce is on the rise, with many buyers switching to online channels, causing fierce competition in traditional markets, making it difficult for small traders.

Many kiosks combine offline and online business. A few others temporarily close during the off-peak season, focusing on business only during busy months and Tet.

“Due to the hot weather in the past few days, fewer people came to shop, fewer sources of goods were purchased, so business was very slow. Many households temporarily closed, stopped selling, or went on vacation , which also caused the number of closed stalls to increase,” said Ms. Do Thi Hoi.

However, many businesses also said that in the first days of June, when the authorities focused on checking input invoices and handling counterfeit goods, some people were afraid and temporarily closed their shops to wait and see.

In fact, Dong Xuan market is a wholesale market, most of which still operate traditionally, with a wide variety of goods, and some people are not used to getting invoices as required.

According to business households, there are also some goods that have been in stock for many years or are self-exploited and are delivered directly to the store, so there are no input invoices. "We hope that the input invoice inspection needs to have a roadmap so that we can adapt," said a business household.

After being informed of the legal regulations, traders feel secure in doing business.
*Photo: Thanh Hien*

Propaganda and support for small traders to stabilize business

Sharing the same opinion, a representative of Dong Xuan Joint Stock Company informed that in recent days, due to being too worried about the authorities checking input invoices, some businesses, mainly on the first floor, have temporarily closed for a few days. The authorities have issued notices, mainly currently propagating for some businesses to complete tax procedures.

As the direct market management unit, Dong Xuan Joint Stock Company has promoted propaganda for traders not to trade in counterfeit goods, fake goods, and intellectual property violations through loudspeakers, signing annual commitments, business contracts, and market regulations.

“In coordination with functional units, we sent an open letter with logos and product labels that have been protected by intellectual property in Vietnam to each business household so that they can be aware and not trade in infringing products,” said a representative of Dong Xuan Joint Stock Company.

In particular, the unit has strengthened the propaganda, explanation and mobilization of small traders to comply with legal regulations, so these days, small traders have felt more secure and returned to normal business.

Regarding specific information about the business situation at the market, a representative of Dong Xuan Joint Stock Company said that in recent years, the number of households temporarily suspending business and stopping selling has been quite large. According to statistics from the beginning of the year until now, there are from more than 600 to more than 1,000 households temporarily closed, with applications for monthly tax holidays.

Specifically, in January there were 700 households, in February there were more than 1,000 households, in April and May there were 645 and 622 households. This June alone, according to the latest statistics from the tax authority, 639 households out of a total of 2,200 households in Dong Xuan market temporarily stopped doing business.

The reason for the number of households stopping selling as above, the management unit said, according to tax regulations, business households are allowed to request a month-long tax and business suspension.

Although business is difficult, businesses still maintain their premises and do not return them. Therefore, the management unit only closes the counters and temporarily cuts off the electricity to ensure fire safety.

Source: https://hanoimoi.vn/hoat-dong-kinh-doanh-tai-cho-dong-xuan-on-dinh-704602.html