HCM City strives to become Southeast Asian trade hub by 2030

Under HCM city’s plan for the development of the trade sector until 2025 with orientations to 2030, the city will develop a trading system in conjunction with tourism activities.

At present, HCM City has 207 supermarkets, 43 shopping malls and 1,100 convenience stores, accounting for 21% of the retail sector. According to the plan, shopping malls and supermarkets will make up at least 40% of the city’s total retail sales by 2020 and the figure will reach 60% by 2030.

In the 2021-2025 period, the growth rate of the retail sector is expected to hit a level of between 11.6%-12.5% each year. In addition, the city’s exports will grow by 10% per year, while the growth of logistics is predicted to touch 20%, contributing 10% to the Gross Regional Domestic Product (GRDP).

In the coming time, HCM City will establish a network of logistics entrepot to supply commodities together with other localities for import-export activities. The city also has plans to build HiepPhuoc Exhibition Centre and Thu Thiem Exhibition Fair Centre as it develops into a major trade centre for Southeast Asia.

Nguyen Huynh Trang, deputy director of HCM City’s department of Industry and Trade said the value of trade services in traditional markets are huge, accounting for 50% of the retail sector. Therefore, the city will continue to support the upgrade of traditional markets to add extra impetus to the retail industry.