posted a year-on-year increase of 26 percent to pass 1,009 trillion VND
in the first eight months of the year.
The General
Statistics Office has also reported that tourist services recorded the
highest growth, reaching 35.4 percent, followed by trade at 27.3
percent.
The retail market has maintained its high
level of growth for several months now thanks to the Government’s
stimulus packages, competitive prices and the “Vietnamese people use
Vietnamese goods” programme.
Large businesses and
supermarkets have promoted sales campaigns and reduced the prices of
their goods to make them comparable or even lower than prices at the
markets.
The Big C supermarket said that it will cut
the prices of 500 items from September 1-29 to mark the Children’s
Autumn Festival, which falls on September 22 this year, while Maximark
will reduce the prices of around 300 items, mainly milk, cooking oil and
beverages by 5-30 percent.
Despite its small scale,
the domestic retail market remains attractive to foreign investors due
to the lack of competitiveness, the publics increasing purchasing power
and high ranking in the retail development index, say economists.
The country’s retail sector is predicted to earn around 1,440 trillion VND this year./.
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