Stimulating domestic consumption, strengthening the internal strength of the economy

Encouraging domestic consumption will help boost economic growth.

The Ministry of Industry and Trade said that in the first three months of 2025, the world political and economic situation continued to develop complicatedly, affecting domestic and foreign commodity markets. To achieve the GDP growth target of over 8%, the Ministry of Industry and Trade requested units to synchronously deploy solutions from Directive No. 05/CT-TTg dated March 1, 2025 and Official Dispatch No. 02/CD-TTg dated January 15, 2025 of the Prime Minister, along with specific tasks in the new Directive.

Units under the Ministry of Industry and Trade are assigned many important responsibilities: The Department of Planning - Finance and Enterprise Management takes the lead in urging the implementation of targets according to Resolution No. 25/NQ-CP, ensuring economic growth of 8%. The Department of Domestic Market Management and Development coordinates with the Department of Industry and Trade and enterprises to implement supply-demand connection programs, promote "Vietnamese people prioritize using Vietnamese goods" and OCOP to support the consumption of domestic goods, especially when major export markets apply protection policies. Organize conferences to assess the situation, remove difficulties, develop policies to stimulate consumption, combine traditional and e-commerce, and ensure continuous supply of gasoline for production and consumption.

The Trade Promotion Department coordinates with localities and associations to organize large-scale promotion programs, regional linkages, combining trade with investment, culture, tourism , and supporting the consumption of key products when the export market is facing difficulties.

The Department of E-commerce and Digital Economy supports the application of digital technology and artificial intelligence in promoting and distributing goods and organizing cross-border e-commerce promotion. The Department of Trade Remedies guides businesses in responding to international trade defense measures. The National Competition Commission strengthens the protection of consumer rights and handles unfair competition. The Import-Export Department and the Department of Foreign Market Development focus on market diversification, taking advantage of FTA/CEPA, supporting businesses to overcome technical barriers and protection policies from major countries such as the EU and the United States.

Along with that, the Departments of Industry and Trade of provinces and cities are also required to connect production and distribution enterprises, implement trade promotion to achieve the target of increasing total retail sales. Localities encourage enterprises to apply digital technology, implement online promotion programs, implement "Vietnamese people prioritize using Vietnamese goods" and ensure the supply of gasoline. At the same time, strengthen price and product quality inspection, combine trade promotion with tourism and culture to promote local specialties.

Corporations and enterprises in the industry and trade sector are also assigned to participate in connecting supply and demand, expanding the distribution network to rural and mountainous areas, and applying digital transformation in business. The Vietnam National Petroleum Group, the Vietnam National Energy Industry Group and key enterprises must ensure circulation reserves, implement production plans and supply sources of petroleum as assigned. Industry associations support enterprises in building brands, innovating technology, expanding domestic distribution and organizing attractive promotions to stimulate consumption.

Economists say that with specific and comprehensive solutions, the Ministry of Industry and Trade's Directive not only aims to stimulate domestic consumption but also strengthen the economy's internal strength in the face of international pressure. The combination of traditional trade, e-commerce and digital transformation promises to create new momentum for Vietnam to achieve its target of 8% economic growth and 12% total retail sales in 2025.

Source: https://thoibaonganhang.vn/kich-cau-tieu-dung-trong-nuoc-cung-co-suc-manh-noi-tai-cua-nen-kinh-te-162306.html