Positive signals from Ho Chi Minh City's activities to stimulate demand, connect domestic consumption and export

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Enterprises exchange with foreign partners at Ho Chi Minh City Export Fair. Photo: N.H

According to the Department of Industry and Trade of Ho Chi Minh City, in the first 6 months of 2023, businesses, the system of commercial centers, supermarkets, and business establishments in Ho Chi Minh City have proactively prepared an abundant and abundant source of goods. variety to serve the needs of the people. Along with that, the Department of Industry and Trade of Ho Chi Minh City also implemented many solutions to promote retail and domestic consumption, creating a growth engine for the economy.

Prominent is the implementation of the campaign "Vietnamese people give priority to using Vietnamese products", stimulating domestic consumption demand through socio-economic development cooperation programs between Ho Chi Minh City and other provinces and cities to buy goods. into the domestic and foreign distribution system, deploying the Focused Promotion Program - "Shopping Season". Ho Chi Minh City also continues to coordinate with localities to implement market stabilization programs in provinces and cities, ensuring essential goods always reach people.

In the first phase of the concentrated promotion program (June 15 to July 15), more than 3,000 businesses responded with about 7,200 promotional programs (excluding regular promotions, which were approved by the Ministry of Industry and Trade). performed regularly). According to the Ho Chi Minh City Department of Industry and Trade, this year the number of participating businesses increased by 7.5%, and the number of programs increased by about 20% compared to the same period in 2022.

Notably, there are about 30% of concentrated promotions with a promotional limit exceeding 50%, the group of items with many incentives focuses on consumer goods, food, fashion, cosmetics; stationery.

This contributed to the growth of total retail sales of consumer goods and services in June 2023, estimated at VND 102,314 billion, up 2.9% compared to May and up 11.2% compared to the same period in 2022.

Accumulated in the first 6 months of 2023, the total retail sales of consumer goods and services are estimated at 555,668 billion VND, up 6.0% over the same period in 2022; in which retail sales of goods in 6 months were estimated at VND 330,686 billion, up 7.7% over the same period, accounting for 59.5% of total retail sales of consumer goods and services.

In addition to activities to stimulate demand in the domestic market, in the second quarter, the Department of Industry and Trade of Ho Chi Minh City also held a Fair on Vietnamese Exports. Thereby attracting more than 8,900 visitors, more than 500 B2B connections, and many businesses signed export orders right at the fair. Typically, Vina T&T Company signed 2 contracts with a Taiwanese partner, Binh Tay Food Company signed a contract with a Korean partner, Soc Trang Trade Promotion Center signed a contract of more than 66,000 USD… Results This is expected to have a positive impact on the export results of HCMC in the coming months.

However, in general, in 6 months, import and export turnover in the area still recorded a decrease. Specifically, export turnover in 6 months was estimated at 19.42 billion USD, down 22.4% over the same period last year; meanwhile, import turnover in 6 months was estimated at 25.55 billion USD, down 24.2% over the same period. According to the Ho Chi Minh City Department of Industry and Trade, the world economy is strongly affected by geopolitical conflicts, and high global inflation leads to a downward trend in consumption, which has had a negative impact on Vietnam's exports of goods. Vietnam in general and Ho Chi Minh City in particular, leading to many businesses not having orders and orders from the world market gradually decreasing, import and export turnover of many items decreased compared to the same period in 2022 and the situation could drag on until the end of 2023.

In order to continue to support Ho Chi Minh City businesses to overcome difficulties, stabilize production, maintain and expand the consumption market of goods and services, and at the same time prepare the premise for accelerated development in 2024 and future developments. next year, the Department of Industry and Trade of Ho Chi Minh City will speed up the consultation progress to submit to the People's Committee of Ho Chi Minh City 3 Strategy for the development of the mechanical - automation industry; rubber - plastic; food processing in Ho Chi Minh City in the period of 2020 - 2030. Along with that is a project to develop a market system in the area to adapt to the context of emerging epidemics and digital transformation of the economy; Master plan for export development in Ho Chi Minh City in the period of 2017 - 2020, orientation to 2030; Plan to train and foster human resources in the logistics industry in the city for small and medium enterprises; Foreign promotion program, brand promotion to international market,...

The Department of Industry and Trade of Ho Chi Minh City also implemented the plan to develop e-commerce in the area in 2023, plan to develop the logistics industry in the area in 2023. There are also plans to organize events: international exhibitions. 15th on Technology and Electrical Equipment - VIETNAM ETE and the International Exhibition on Energy Saving and Green Energy Products - ENERTEC EXPO in 2023; Conference to find supporting industry suppliers in 2023; Vietnam Supporting Industry Products Exhibition and Industrial Machinery and Equipment Exhibition in 2023.

In addition, promotional programs focus on connecting trade between Ho Chi Minh City and other provinces and cities; Vietnamese Goods Week in Thailand; Agreements on socio-economic development cooperation between Ho Chi Minh City and other provinces and cities will also continue to be implemented. Especially, for the first time, Ho Chi Minh City organized a promotional event for branded goods (from August 25, 2023, to August 27, 2023), contributing to attracting domestic and international tourists to visit and shop...