Hanoi (VNS/VNA) - Thedomestic market can support local production and business in the context of theserious developments of the COVID-19 pandemic, said Deputy Minister of Industryand Trade Do Thang Hai at a meeting in Hanoi on August 12.

Speaking at the meeting on domestic market development, Hai said as thepandemic spreads globally, many businesses saw their export markets hit withpostponed or cancelled orders, while the domestic market of nearly 100 millionpeople is large enough for businesses to overcome difficulties andchallenges.

Total retail sales of goods and services in the first seven months of this yeardecreased by 0.4 percent year-on-year, but revenue increased by 3.6 percent,ensuring the essential needs of people and the supply of raw materials,fuel, machinery, equipment and goods to maintain production and businessfor domestic market and exports as well.

“This result is thanks to the 2014-20 campaign ‘Vietnamese people useVietnamese goods’, which has supported changing local consumers’ awareness andbehaviour through dissemination programmes,” Hai said.

He said the campaign has also helped Vietnam’s distribution network developsustainably and enhance competitive capacity for Vietnamese enterprises,showing the strong vitality of Vietnamese products as an important pillar inthe domestic market, contributing to the completion of economic indicators,curbing inflation, stabilising the macro-economy and ensuring balance of supplyand demand, especially essential goods.

Tran Duy Dong, director general of the Ministry of Planning and Investment’sDepartment for Local and Regional Economy, said the distribution sector is oneof the driving forces for economic development.

He said most international organisations including the World Bank, IMF and ADBhave praised the role of the domestic market in Vietnam in the context ofthe pandemic.

“Domestic goods are still produced and circulated regularly, not only enough tomeet the domestic market's needs but also to export to countries around theworld,” Dong said.

According to a report from the Domestic Market Department, Vietnamese goods inthe retail supermarket system of Co.opmart account for 90-93 percent, Satra90-95 percent, Vissan 95 percent, Vinmart 90 percent, BRG Retail 90 percent andBách Khoa Xanh supermarket system 95 percent.

Meanwhile, the proportion of Vietnamesegoods at foreign supermarkets in Việt Nam ranges between 60 percent and 96 percent.They make up 82 percent of revenue at Lotte, 96 percent of revenue at Big C, 80percent of goods at AEON, and 95 percent of goods at MegaMarket.

As for traditional retail channels, Vietnamese goods at convenience storesand traditional markets account for more than 60 percent or more.

To promote the consumption ofVietnamese goods in the domestic market, Dong said there is a need to addmechanisms and policies to encourage domestic enterprises to increase theapplication of science and technology, develop supporting industries, andexpand convenient and flexible distribution channels of Vietnamese goods.

“It is necessary to push upthe connection of businesses from production to consumption, especiallye-commerce both at home and abroad to expand the consumption market ofVietnamese goods,” he added./.