Connect with us
CGIF-10th-Year-Anniversary

Vietnam

Vietnam prepares domestic trade strategy

Avatar

Published

on

“The development of domestic trade lacks a comprehensive strategy despite its important role in the economy,” said Pham Nguyen Minh, Director of the Viet Nam Institute for Trade, at a workshop held yesterday to collect comments for the domestic trade development strategy by 2025.

Minh said special attention should be paid to developing supplying chains as well as infrastructure for goods circulation.

Vo Van Quyen, Director of the ministry’s Domestic Market Department, said the strategy will tackle issues related to the organisation of traditional and modern distribution channels and the development of trade infrastructure together with business models.

The strategy also targets enhancing the role of domestic firms in the context of rapid international integration, Quyen said, noting that domestic trade must be compliant with commitments to the World Trade Organisation and other bilateral and multilateral trade agreements related to the opening of the domestic market.

Project official Le Trinh Minh Chau said it was critical to improve the business climate and ensure transparency and fairness for firms so as to promote the development of the wholesale and retail industry.

Experts also said a focus should also be placed on developing e-commerce, preventing trade fraud and promoting the sale of Vietnamese goods.

The Ministry of Industry and Trade has addressed domestic trade among its major tasks this year. The total retail sales of goods and services was equivalent to 86 per cent of the gross domestic product in 2016, up from 77.3 per cent in 2015, the ministry’s data showed.

Purchasing power up

Updates from the General Statistics Office show that the total retail sales of goods and services in April reached VND317.5 trillion (US$13.9 billion), up 1.7 per cent over the previous month and an 11.1 per cent year-on-year increase.

For the January-April period, total retail sales jumped 9.6 per cent to reach VND1.27 quadrillion, but if inflation was excluded, the rise was only 6.7 per cent, lower than the increase of 7.8 per cent of the same period last…

Source link

Comments

Vietnam

Foreign capital still heads to Vietnam

As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.

Avatar

Published

on

Hanoi (VNA) – The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.

(more…)
Continue Reading

Trade

Why Vietnam Has Become a Promising Alternative for US Businesses in Asia

Vietnam Briefing discusses trends in the Vietnam-US relationship, growing economic ties, and how US businesses can leverage and benefit from moving their production to Vietnam.

Avatar

Published

on

Following four decades since the end of the Vietnam War, Vietnam’s relationship with the US has changed significantly.

(more…)
Continue Reading

Cambodia

CLMV’s economic growth crashes to two-decade low due to COVID-19

The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year

Avatar

Published

on

The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,413 other subscribers

Trending