Vietnam Grand Sale 2024: Creating a breakthrough to stimulate domestic consumption and economic growth at the end of the year

On the morning of December 2, 2024, in Hanoi, the Ministry of Industry and Trade held the Launching Ceremony of the Program "National Concentrated Promotion 2024 - Vietnam Grand Sale 2024". Speaking at the Launching Ceremony of the Program "National Concentrated Promotion 2024 - Vietnam Grand Sale 2024", Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that in recent times, our country's trade, services and tourism have had positive recoveries; total retail sales of goods and consumer service revenue in October is estimated at 545.7 trillion VND, up 7.1% over the same period last year. In the first 10 months of 2024, total retail sales of goods and consumer service revenue at current prices is estimated at 5,246.2 trillion VND, up 8.5% over the same period last year. In October this year, the country had 14.2 thousand newly established enterprises, an increase of 26.5% compared to the previous month; total import and export turnover of goods is estimated at 69.19 billion USD, an increase of 5.1% compared to the previous month and an increase of 11.8% compared to the same period last year.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan delivered the opening speech at the Launching Ceremony of the Program "National Concentrated Promotion 2024 - Vietnam Grand Sale 2024"

However, pointing out the current difficulties, the Deputy Minister of Industry and Trade said that the world situation continues to be complicated, military conflicts are escalating in some areas; the global economy recovers slowly and unevenly in countries and regions. In the country, the macro economy continues to be stable, inflation is controlled, growth is promoted, major balances of the economy are ensured but still face many difficulties and challenges, especially the severe damage caused by natural disasters and floods in many localities. In this context, according to Deputy Minister Nguyen Sinh Nhat Tan, in order to strengthen trade promotion activities associated with promoting the building of Vietnamese brands, synchronously and drastically implementing solutions to develop the domestic market, stimulate consumption, diversify forms of purchasing, promotion, promote production, business and circulation activities. Thereby, contributing to the recovery and development of the country's economy under the direction of 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 program "National Concentrated Promotion 2024 - Vietnam Grand Sale 2024" from December 2, 2024 to December 31, 2024 nationwide. "To effectively implement the program, the Ministry of Industry and Trade has requested the Departments of Industry and Trade of provinces and centrally run cities, associations, industries and relevant agencies, enterprises and individuals to organize and respond to participate in the program. At the same time, launch the implementation of the program in localities nationwide" - Deputy Minister Nguyen Sinh Nhat Tan said.

The program "National Concentrated Promotion 2024 - Vietnam Grand Sale 2024" is extended from December 2 to December 31, 2024.

Assessing the significance of the program, Deputy Minister Nguyen Sinh Nhat Tan emphasized that the Ministry of Industry and Trade believes that with the response of localities, industry associations, businesses, especially from tens of millions of Vietnamese consumers, the National Concentrated Promotion Program 2024 will be one of the important and practical contents to implement the key tasks and solutions set out by the Ministry of Industry and Trade. Thereby, helping to maximize the recovery of the domestic market, increase total retail sales of goods and consumer service revenue in the year-end period, contributing to maintaining high growth of the economy . According to the Ministry of Industry and Trade, the "National Concentrated Promotion Program 2024" is organized simultaneously nationwide by the Department of Trade Promotion as the focal point, in coordination with relevant units of the Ministry of Industry and Trade; Departments of Industry and Trade of provinces and centrally run cities; associations and industries; related businesses and organizations to carry out activities to launch, guide and support businesses in implementing promotional programs combining traditional and electronic programs, helping to create a ripple effect and attract the participation of manufacturing and trading businesses in all fields.

Delegates press the button to start the program "National Concentrated Promotion 2024 - Vietnam Grand Sale 2024"

All businesses have the right to respond to and participate in the "National Concentrated Promotion Program 2024" by proactively implementing many promotional activities with diverse and attractive content aimed at customers and consumers; proactively deciding to apply the maximum promotional limit (up to 100%). At the same time, the Ministry of Industry and Trade requires participating businesses to carry out promotional activities legally, honestly, publicly, transparently and ensure the rights and legitimate interests of consumers; ensure the quality of goods and services according to current regulations. In addition, according to the provisions of 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%". Thus, according to Decision 2245/QD-BC and the above regulations, traders are allowed to carry out promotions up to a limit of 100% from December 2, 2024 to January 31, 2025. Following the results achieved in previous years, along with the promotional activities, trade promotion, demand stimulation, development and strengthening of supply chain links of goods deployed by the Ministry of Industry and Trade in the recent past, along with new legal policies on trade promotion, the Program "National Concentrated Promotion 2024 - Vietnam Grand Sale 2024" is expected to have breakthrough results compared to previous years, helping to increase retail sales of goods and service revenue, contributing to the strong growth of Vietnam's economy in 2024.

kmttqg.vietrade.gov.vn

Source: https://kmttqg.vietrade.gov.vn/tin-tuc/202/vietnam-grand-sale-2024-tao-dot-pha-kich-cau-tieu-dung-noi-dia-tang-truong-kinh-te-dip-cuoi-nam