Ho Chi Minh City’s total retail and service revenue in the first six months of 2018 is estimated at 502.55 trillion VND (22.11 billion USD), up 11.7 percent over the same period last year.
HCM City (VNA) – Ho Chi Minh City’s total retail and servicerevenue in the first six months of 2018 is estimated at 502.55 trillion VND(22.11 billion USD), up 11.7 percent over the same period last year.
According to the Ho Chi Minh City Department of Industry and Trade, thecity currently has 239 traditional markets, 209 super markets, 42 trade centresand 1,609 convenience stores.
The domestic retail market has continued its stable development trend withlast year’s revenue expanding 10.9 percent. The strong growth of the retailmarket is creating big chances for domestic production, trading and supplyfirms.
Nguyen Anh Duc, Deputy General Director of the Saigon Co.op said thatrecently, the firm has partnered with Singapore’s NTUC Fair Price to launch aconvenience store chain called Cheers that opens 24 hours a day to meet thedemand of customers. Duc added that 50 Cheers shops are expected to be openedacross the country in 2018.
In the end of this year, the city has launched four price stabilizationprogrammes in late 2018 with an aim to promote the market with the engagementof 90 enterprises and credit organisations.
Total capital to support enterprises joining the four programmes is 19.65trillion VND, up 8.14 percent over that in 2017 with the same interest rate asthat of last year from 5.5 to 10 percent per year.
At the same time, the city has focused on trademark building and enhancingprestige for the programmes as well as local enterprises and products engagingin the programmes by strengthening communications and supporting firms expandingmarket across the country.
The city has also assisted localities to implement the programmes,especially those in southeast and southwest regions. Logos of the programmeswill be popularized to help customers recognise products sold during theprogramme. -VNA
Retail goods and services generated revenues of nearly 1.4 quadrillion VND (63 billion USD) in the first four months of 2018, a year-on-year rise of 9.85 percent.
Vietnam’s retail sector earned about 129.6 billion USD in 2017, a rise of 10.6 percent from the previous year, according to a report on global retail market trends of Savills Vietnam retail consultancy.
The southern economic hub Ho Chi Minh City has set the target of achieving 6.82 – 9.06 percent growth in the total retail and consumer services from 2026-2030.
Ho Chi Minh City’s revenue from goods retail sales in the first half of this year is estimated at more than 328.58 trillion VND (14.47 billion USD), accounting for 65.3 percent of the city’s total earnings from retail sales and services and up 12.9 percent from the same time last year.
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Consumers shop at a supermarket (Photo: VNA) 
