HCM City to organise fair to stimulate consumer demand
Ho Chi Minh City’s Department of Industry and Trade will for the first time in several years allow businesses to offer promotions of up to 100 percent in June and July to boost demand that has taken a hit from the COVID-19 pandemic.
The HCM City Department of Industry and Trade will organise the Consumption Stimulus Fair from July 2 to 5 this year to revive demand that has slumped due to the COVID-19 pandemic. (Source: VNA)
HCM City (VNS/VNA) – Ho Chi Minh City’s Department of Industry and Trade will forthe first time in several years allow businesses to offer promotions of up to100 percent in June and July to boost demand that has taken a hit from the COVID-19 pandemic.
Forthe last few years, businesses have not been allowed to offer one for one andother similar promotions except during national holidays like the Lunar NewYear, Independence Day and Reunification Day.
Itwill also allow free participation for businesses at the 2020 Consumption StimulusFair from July 2 to 5 in ThuDuc District.
Therewill be supermarkets, malls and electronics retailers like Thien Hoa and Nguyen Kim participating in the programme,according to the department.
Itexpects the event to boost economic recovery and normalise commercialactivities in the city.
Thefair, financed by firms and the Government’s trade promotion funds, will have500 booths showcasing consumer products, agricultural goods, foods, and exportitems.
Therewill be promotional and discount programmes to stimulate consumption and helpfirms liquidate their stocks.
Le Thi Thanh Tam, deputy director of Sai Gon Food Company, said her company wouldoffer promotions of up to 50 percent and free trials of goods.
Le Viet Thanh, director of K&K Fashion, saidwhile major annual promotional programmes such as Black Friday and forReunification Day (April 30) always attract a lot of customers, many shops markup prices before them or sell old, counterfeit and poor-quality goods productsthat disappoint users.
Thedepartment therefore needs to strictly control the quality of products to besold at the fair and take severe action against businesses that violate buyers’trust, he said.
Thepromotions need to be promoted on different channels, especially social networksand digital media, to reach more young people, he said.
Thecity should get banks and financial companies to offer low-interest loans atthe fair for high-value of goods such as air conditioners to stimulate demand,he added./.
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong has requested more efforts to perform the dual task of recovering the economy while fighting COVID-19.
The southern economic hub of Ho Chi Minh City has spent 465 billion VND (20.2 million USD) supporting more than 336,550 business households and employees seriously affected COVID-19, according to Director of the municipal Department of Labour, Invalids and Social Affairs Le Minh Tan.
Ho Chi Minh City attracted a combined 1.6 billion USD in foreign direct investment (FDI) in the first five months of 2020, or 57.67 percent compared to the same period last year.
The Index of Industrial Production (IIP) for HCM City in May rose 7.9 percent against April but was down 15.5 percent year-on-year, according to the city’s Department of Industry and Trade.
Supermarkets, shopping centres and traditional and wholesale markets in Ho Chi Minh City have assessed their COVID-19 infection risks through a set of evaluation indicators and have set safety measures to meet the city’s requirements.
The Ho Chi Minh City Red Cross Society held a ceremony on June 7 to honour 15 outstanding blood donors on the occasion of World Blood Donor Day (June 14).
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The HCM City Department of Industry and Trade will organise the Consumption Stimulus Fair from July 2 to 5 this year to revive demand that has slumped due to the COVID-19 pandemic. (Source: VNA) 
