Hanoi (VNS/VNA) - Thanks to an expected upturn in retail demandbetween now and the end of the year, the total revenue for 2021 is expected tohave grown by 3-4 percent, as compared to the previous year. 

The forecast was delivered by the Ministry of Industry and Trade(MoIT). However, growth is expected to be lower than the target of eightpercent set earlier by the industry. 

According to MoIT’s Domestic Market Department, retail of goods has seenpositive growth over the first 10 months of 2021, thanks to the recentresumption of trading.  

Travelling and circulation of goods have also become easier. 

As well as winter apparel, the demand for household appliances and stationeryhas also increased after the social distancing period, pushingup the October retail of goods and service revenues by 18.5 percentmonth-on-month.

On the structure of retail of goods and service revenues so far in 2021,retail sales accounted for the largest share with 82.8 percent, accommodationand catering services had 8.3 percent; tourism just 0.1 percent and otherservices accounted for 8.8 percent.

To further boost domestic consumption in the remaining months of this year, theMoIT said it would concentrate on addressing concerns in business andproduction activities, especially those of major enterprises in industrialparks or economic zones.

“The aim is to ensure a speedy resumption of economic activities and keepingvalue chains intact, especially at a time when demands for goods and productswould rise during the year-end period,” the ministry said.

Meanwhile, the MoIT will closely monitor the demand-supply balance and marketprices of goods to intervene if necessary, along with effective distribution ofgoods across localities, including the pandemic epicentres, to ensure thesmooth movements of goods.

In line with these efforts, the ministry will supervise the market during theyear-end period to address trade fraud activities and ensure a healthydevelopment environment for Vietnamese products.

The MoIT also plans to reopen in phases wholesale markets, supermarkets,convenience stores on the condition of complying with anti-COVID-19 measures toboost production and consumption, while trade promotion activities are expectedto shift to online platforms to boost sales in late 2021 and early 2022.

“A series of promotion programmes will kickstart in the year-end shoppingperiod, ahead of the new year festivals," MoIT added. 

Meanwhile, supply-and-demand connectivity and tradepromotion activities will continue at home, make full use of e-commerce tolaunch the domestic market development strategy and project till 2030, with avision to 2045./.