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Official Gazette

Monday, May 29, 2023

Government leader approves new domestic trade strategy

Updated: 08:26’ - 16/07/2021
By 2030, domestic trade will account for 15-15.5 percent of the national GDP, according to the strategy for domestic trade development through 2030, with a vision toward 2045.

Under the strategy, which is approved under Decision 1163/QD-TTg dated July 13, domestic trade will grow by an average rate of 9-9.5 percent per year, while retail sales of goods and consumer service revenues will grow by 13-13.5 percent during the period.

At the same time, domestic trade via e-commerce platforms is targeted to increase by about 20 percent annually to account for 10.5-11 percent of total retail sales of goods and consumer service revenues. The percentage of small- and medium-sized enterprises engaged in trading activities is hoped to surpass 40-45 percent.

In the near future, the country will continue to improve the domestic investment and business environment, maintain the market order adaptable to the new context, develop domestic trade stably and sustainably, keep domestic trade’s growth rate faster than the GDP growth rate, and develop e-commerce into a main form of trading.

It also targets to form a system of logistics centers and build major logistics centers in key economic regions in order to create a driving force for development of the country’s supply chains.

Under the strategy, the country expects to set up sustainable supply chains nationwide to ensure effective implementation of regulations on food safety and quality, origin tracing, and environmental protection.

This strategy points out the need for reform of state management of domestic trade toward respecting market rules, observing laws on anti-dumping, combating smuggling, trade fraud, market manipulation and unfair competition.

It is also a must to work out instruments and intervention measures for settlement of unforeseeable events in the domestic market so as to protect local products and producers in a way that conforms with international commitments.- (VLLF)

Tags: GDP

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