On January 11, reporting to the Ho Chi Minh City People's Committee on production and trade activities in the area in 2023, Mr. Bui Ta Hoang Vu, Director of the City Department of Industry and Trade, said that the total retail sales of goods and trade and service revenue in 2023 is estimated at 1,190,407.3 billion VND, an increase of 9.6% compared to 2022.
Of which, retail sales of goods are estimated at VND 697,604.7 billion, accounting for 58.6% of total retail sales of goods and service revenue, up 11.6% compared to 2022. In general, the market situation in the city is quite vibrant, production and business units have proactively stockpiled, supplemented goods, and diversified types to ensure meeting people's shopping needs. In addition, the Department of Industry and Trade continues to stabilize the commodity market, in order to limit the increase in prices of consumer goods, especially for essential food items, foodstuffs, etc.
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| Total retail sales and trade and service revenue in 2023 of Ho Chi Minh City reached more than 1,190,407 billion VND |
According to the leader of the Department of Industry and Trade of Ho Chi Minh City, currently, people are tightening their spending, so businesses are increasing promotions and diversifying products continuously, but only essential goods have seen slight growth, while other groups of goods still have low purchasing power. In order to stimulate consumption, in 2023, the city has implemented a focused promotion program to strengthen the connection between businesses and consumers, boost the consumption of goods, promote production and business activities, organize domestic supply and demand connections in the online environment and new platforms to create convenient and stable consumption channels.
In parallel with direct purchase and sale of goods, cooperation activities with e-commerce platforms such as Lazada, Shopee, TikTok, Sendo, etc. have greatly supported the consumption of products and goods, thereby increasing the purchase level as well as the distribution of products. Previously, in traditional commercial areas, which often depended on traders, now they are directly distributed to consumers.
In 2024, especially during the Lunar New Year, the industry and trade sector will closely monitor the supply and demand and prices of essential goods, coordinate with stabilization enterprises to take timely regulatory measures, ensure balance between supply and demand, and circulation of goods through the implementation of market stabilization programs.
The industry and trade sector will also assess the supply and demand of essential goods for people's lives; review and adjust to suit the new situation and proactively implement plans to reserve and supply goods according to each level of the epidemic; monitor market developments and the impact of raw material prices to promptly support and resolve difficulties and problems, creating favorable conditions for businesses to operate stably, maximize their capacity, especially products with room for production, consumption markets and the ability to increase output to compensate for the shortage of other industrial products.
“The Ho Chi Minh City Department of Industry and Trade will forecast and regulate market supply and demand in the area, coordinate with price stabilization businesses to implement the Market Stabilization Program 2023 - Tet Giap Thin 2024, expand price stabilization points, organize mobile sales trips in export processing zones, industrial parks, remote areas, etc. to meet the needs of people during Tet,” said Mr. Vu.
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