The total revenue from retail trade and services saw rapid growth of 10.55 percent a year in 2016-18 (Photo: vov.vn) Hanoi (VNS/VNA) – Vietnam lacks an overall strategy to promote the sustainabledevelopment of domestic trade in the context of deep international integration,heard a conference held in Hanoi on December 18.
Do Thang Hai, Deputy Minister of Industry and Trade, said domestic trade hadplayed an important role in product consumption, meeting goods demand andcontributing to economic development.
In 2016-18, the average contribution of domestic trade to GDP was more than 10percent a year, creating jobs for about 12 to 13 percent of the country’s totallabourers.
Statistics from the ministry showed the total revenue from retail trade andservices saw rapid growth of 10.55 percent a year in 2016-18.
In addition to promoting international trade through import-export activities,the Government had paid much attention to developing domestic trade. TheGovernment had approved some long-term plans to develop the market such as themovement ‘Vietnamese people give priority to Vietnamese goods’, Hai said.
In the context of the international integration, the Government instructed theministry to build a strategy for domestic trade development by 2025 with avision to 2035.
According to Tran Duy Dong, head of the ministry’s Domestic Department thelocal market has struggled with high intermediate costs due to a weakdistribution network and slow application of science and technology in trade.
Additionally, smuggled and counterfeits goods have not been controlled whiletrade infrastructure has not been equally developed nationwide.
Meanwhile, the market system in rural areas has not been upgraded and there isstill a big price difference among provinces and regions.
He added that price forecasts should be paid adequate attention, to avoidcreating unfavourable conditions for the State, businesses and individuals.
“The building of the strategy would help improve competitiveness of localfirms, especially small-and-medium sized enterprises. The strategy would alsoplay an important role in promoting production and consumption throughdistribution channels, connecting rural and urban areas as well as promotingproduct chain association,” he said.
The strategy was divided into specific phases linked to the country’s strategyfor socio-economic development.
He added that solutions and plans in the strategy would resolve distributionchannels issues.
The draft strategy was also built to be suitable with commitments under theWorld Trade Organisation as well as bilateral and mutilateral trade pacts whichVietnam has signed.
Tran Dinh Thien, former Director of the Vietnam Institute of Economics, saiddeveloping the local market aimed to not only increase quantity but also growthquality.
The draft strategy should have forecasts on changing goods structure atdistribution channels. In addition, it should catch up with the boom ofe-commerce and payments to have suitable policies with the new payment methods.
“The programme ‘Vietnamese people give priority to use Vietnamese goods’ hasseen positive results. However, in the new context, the policies for made-in-Vietnamgoods supply should be upgraded to conquer Vietnamese people,” Thien added.
Pham Dinh Doan, Deputy General Director of Phu Thai Group, said local producersshould invest to improve their product quality to compete with imported items.In addition, they should pay attention to retail system planning to have adiverse and competitive distribution system.
Dinh Thi My Loan, Chairwoman of the Vietnam Retailers Association, said theGovernment should have a specific strategy for the retail service sector as itis an important industry.-VNS/VNA
Do Thang Hai, Deputy Minister of Industry and Trade, said domestic trade hadplayed an important role in product consumption, meeting goods demand andcontributing to economic development.
In 2016-18, the average contribution of domestic trade to GDP was more than 10percent a year, creating jobs for about 12 to 13 percent of the country’s totallabourers.
Statistics from the ministry showed the total revenue from retail trade andservices saw rapid growth of 10.55 percent a year in 2016-18.
In addition to promoting international trade through import-export activities,the Government had paid much attention to developing domestic trade. TheGovernment had approved some long-term plans to develop the market such as themovement ‘Vietnamese people give priority to Vietnamese goods’, Hai said.
In the context of the international integration, the Government instructed theministry to build a strategy for domestic trade development by 2025 with avision to 2035.
According to Tran Duy Dong, head of the ministry’s Domestic Department thelocal market has struggled with high intermediate costs due to a weakdistribution network and slow application of science and technology in trade.
Additionally, smuggled and counterfeits goods have not been controlled whiletrade infrastructure has not been equally developed nationwide.
Meanwhile, the market system in rural areas has not been upgraded and there isstill a big price difference among provinces and regions.
He added that price forecasts should be paid adequate attention, to avoidcreating unfavourable conditions for the State, businesses and individuals.
“The building of the strategy would help improve competitiveness of localfirms, especially small-and-medium sized enterprises. The strategy would alsoplay an important role in promoting production and consumption throughdistribution channels, connecting rural and urban areas as well as promotingproduct chain association,” he said.
The strategy was divided into specific phases linked to the country’s strategyfor socio-economic development.
He added that solutions and plans in the strategy would resolve distributionchannels issues.
The draft strategy was also built to be suitable with commitments under theWorld Trade Organisation as well as bilateral and mutilateral trade pacts whichVietnam has signed.
Tran Dinh Thien, former Director of the Vietnam Institute of Economics, saiddeveloping the local market aimed to not only increase quantity but also growthquality.
The draft strategy should have forecasts on changing goods structure atdistribution channels. In addition, it should catch up with the boom ofe-commerce and payments to have suitable policies with the new payment methods.
“The programme ‘Vietnamese people give priority to use Vietnamese goods’ hasseen positive results. However, in the new context, the policies for made-in-Vietnamgoods supply should be upgraded to conquer Vietnamese people,” Thien added.
Pham Dinh Doan, Deputy General Director of Phu Thai Group, said local producersshould invest to improve their product quality to compete with imported items.In addition, they should pay attention to retail system planning to have adiverse and competitive distribution system.
Dinh Thi My Loan, Chairwoman of the Vietnam Retailers Association, said theGovernment should have a specific strategy for the retail service sector as itis an important industry.-VNS/VNA
VNA
