HCMC’s retail market grows fast - HCMC’s retail market grows fast - Website Ho Chi Minh City
On June 5, HCMC Department of Industry and Trade announced the retail sale revenue of VND 328,582 billion in the first 6 months of 2018, accounting 65,38% of total retail sale and service revenue, up 12,9% compared to the same period of 2017.
The strongly developed retail market has created big opportunities for domestic manufacturers, businesses and suppliers to participate into modern retail channels. Assessing the market price, Mr. Nguyen Phuoc Dong, Deputy Director of HCMC Department of Industry and Trade, said the retail market in the first 6 months of HCMC is stable without any scarity of goods or price hike. Pork meat price in April & May 2018 is increasing to VND 40,000-45,000/kg, the reason is due to low price maintained in a year, many farmers have actively reduced their scale which have impact on the supply.
Facing this, pork meat price has been adjusted at the right time in accordance with market rules. In the first 6 months of 2018, Department of Industry and Trade has carried out the market price stabilization program and the campaign of “Vietnamese people give priority to using Vietnamese products”, ensuring high quality of goods and food safety and hygiene. The program attracted parcipation of 90 units including 78 manufacturers and 12 credit organizations (up three units than 2017).
In addition, the amount of products at the program also increased, each type of goods accounted for 25%-40% of market demand and increased by 15%-35% on average as of that of 2017. Beside, total registered capital for loan support to implement 04 price stabilization programs reached VND 19,650 billion, up 8,14% as of 2017 with the same loan interest rate as of 2017.
Especially, since early 2018, HCMC has promoting brand building activities, improving prestige for price stablization programs by strengtheing communication programs, supporting businesses to expand market, supporting localities to implement price stabilization programs, especially provinces and cities in Southern Vietnam, supporting businesses to construct production facilities in a modern way with higher productivity.
In parallel, the city has strengthened supply-demand connectivity programs to develop network of price stabilization outlets selling 100% Vietnamese products and selling points of safe food manufactured in accordance with VietGap, GlobalGap, HACCP, etc. In addition, the city continues to print logo of the program in products under the price stabilization programs to improve the ability of brand identity for consumers, to enhance efficiency of information propaganda about significance of the program.