# Vietnam Aims to Enhance Domestic Market and Strengthen Local E-Commerce

- Link: https://www.thailand-business-news.com/tech/ecommerce/161965-vietnam-aims-to-enhance-domestic-market-and-strengthen-local-e-commerce
- Published: 2024-09-13T08:50:00+07:00
- Author: ASEAN Briefing

**Vietnam’s Prime Minister issued Directive 29 to enhance domestic demand, support
production, promote e-commerce, and reduce export dependency, fostering economic
resilience and prioritizing local consumption in its market development efforts.**

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## Key Points

 * Vietnam’s Prime Minister issued Directive 29/CT-TTg, aiming to bolster demand
   and market development, particularly in e-commerce, to strengthen the domestic
   economy. This effort seeks to reduce reliance on exports and enhance local market
   growth.
 * The directive emphasizes support for investment projects, facilitating domestic
   markets, and reviewing policies for local businesses, highlighting the importance
   of local consumer demand for sustainable economic growth.
 * E-commerce will play a crucial role in this strategy, with stricter regulations
   on imported goods and initiatives to promote Vietnam-made products through digital
   platforms, enhancing regional connections and ensuring robust domestic consumption.

On August 27, 2027, Vietnam’s Prime Minister issued Directive 29/CT-TTg, aimed at
revitalizing the domestic economy by enhancing market development and elevating 
the role of local production, particularly in e-commerce. This strategy represents
a significant pivot from Vietnam’s historical dependence on export-oriented industrialization,
which has left the nation vulnerable to global economic shifts. With a burgeoning
population of over 100 million and a substantial purchasing power, bolstering the
domestic market is vital for sustainable economic growth. Local experts assert that
domestic consumption, along with public investment and exports, is crucial; in the
third quarter of 2023, it accounted for up to 80% of the country’s GDP growth.

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Directive 29 outlines specific tasks for various government ministries and local
agencies to ensure effective policy implementation. Key objectives include: expediting
investment projects to create new production capacities, implementing policies that
encourage domestic consumption in advantageous sectors, supporting local businesses
to integrate into international supply chains, and enhancing regional connectivity
to lower logistics costs. The directive also emphasizes adopting advanced technologies
within government operations and promoting a culture of prioritizing Vietnamese 
goods among consumers.

Particularly noteworthy is the directive’s implication for e-commerce within Vietnam.
It mandates that the Ministry of Industry and Trade (MIT) strengthen links between
production and distribution to form value chains for Vietnamese products. E-commerce
platforms will play an essential role by implementing support programs for local
goods, alongside fostering connections between supply and demand throughout various
regions, including remote areas and industrial parks.

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Furthermore, the directive signals the government’s intent to impose stricter regulations
on imported goods sold via e-commerce. The Ministry of Finance is tasked with ensuring
this control aligns with international commitments while investigating tax incentives
for projects that facilitate local production. This overarching framework reinforces
Vietnam’s focus on local consumption, necessitating that both domestic and foreign
businesses realign production and marketing strategies to leverage upcoming policy
changes effectively.

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  |  This article was first published by _[Vietnam Briefing](https://www.vietnam-briefing.com) _, which is produced by [Dezan Shira & Associates](https://www.dezshira.com/). The firm assists foreign investors throughout Asia from offices [across the world](https://www.dezshira.com/office), including in in [China](https://www.dezshira.com/office/china), [Hong Kong](https://www.dezshira.com/office/hong-kong.html), [Vietnam](https://www.dezshira.com/office/vietnam), [Singapore](https://www.dezshira.com/office/singapore.html), and [India](https://www.dezshira.com/office/india) . Readers may write to [info@dezshira.com](https://www.thailand-business-news.com/tech/ecommerce/info@dezshira.com) for more support. |

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**Read the original article :** [Vietnam Seeks Domestic Market Development, Boost Local E-Commerce ](https://www.vietnam-briefing.com/news/vietnam-government-seeks-domestic-market-development-implications-for-e-commerce.html/?rand=160085)