Hanoi (VNA) – Hanoi’s retailsales of goods and services in the first half of this year reached 336 trillionVND (14.35 billion USD), up 16.5% year-on-year, tied to local retail sales promotionalprogrammes and supply chain adjustments.

The domestic market, especially thecapital city, has seen a strong recovery since the beginning of this year whenthe COVID-19 pandemic was brought under control.

Concentrated promotional and regionalconnectivity programmes have been rolled out in the community, withenthusiastic engagement from businesses that has contributed to both increasing total retail sales and to taming inflation.

Rosy market

Since late 2021, Hanoi and otherlocalities nationwide have shifted to flexible adaptation to and effective control ofCOVID-19, helping to recover trade and services.

According to Tran Thi Phuong Lan,Acting Director of the municipal Department of Industry and Trade, apart fromthe consumption stimulus programmes launched by the city, retailers like Hapro,BRG, Co.opmart, Big C, Aeon Mall, Winmart, MediaMart, Pico and Nguyen Kim havealso stepped up promotions to lure customers.

Nguyen Thi Kim Dung, Director ofCo.opmart Hanoi, said through such programmes, the supermarket chain hasattracted more suppliers and created opportunities for enterprises andcooperatives to put their products on its shelves.

MediaMart also reported growth ofaround 200%-300% thanks to the consumption stimulus programmes, according to itsMarketing Director Vuong Tuan Anh.

In the six-month period, the retailsales of goods alone in the city hit 218.5 trillion VND, a year-on-year rise of11.4%.

The figures reflect the efficiency incontrolling the pandemic, economic reopening and stimulus campaigns, Lan said,adding that the increase in retail sales of goods and services has helpedenterprises deal with difficulties in production and business, and contributedto the local economy.

Economist Nguyen Minh Phong alsoemphasised the great contributions of trade and services to the city’s grossregional domestic products (GRDP), saying trade, services and the domesticmarket form a pillar of the economy.

Stepping up domestic consumptionpromotion

The Ministry of Industry and Tradeforecast that domestic consumption will rise in the time ahead thanks to theeffective control of the pandemic, production recovery and tourism reopening.

Many enterprises in Hanoi have alsoincreased investments and expanded production and business after theprolonged hiatus due to COVID-19.

The concentrated, large-scalepromotion programmes have created “golden months” for consumers, said Dung.

Lan noted that from now till the endof this year, similar programmes such as “Hanoi Sales Promotion 2022”, “HanoiMidnight Sale 2022” and Black Friday, with discounts of up to 100% will be putinto place.

Notably, regional connectivity willbe stepped up to bring products from other localities to Hanoi, she said. Thecapital city will support businesses, cooperatives and households from other citiesand provinces to join the supply chain and promote their products under the“Once Commune-One Product” programme.

Hanoi will also pay more attention toe-commerce, cashless payment and modern business methods that match the digitaleconomy and the pandemic situation, while assisting firms to form domesticproduction and supply chains, the official said.

Vu Ba Phu, General Director of theDepartment of Trade Promotion under the Ministry of Industry andTrade, said Hanoi’s Concentrated Promotion Programme and Vietnamese Goods Week2022 with an array of activities will help to stimulate consumption in the cityand recover business operations. The outputs should contribute to nationaleconomic development, he said.

Le Viet Nga, deputy head of theministry’s Domestic Market Department, highlighted the importance of theprogrammes in connecting production and consumption as well as businesses andconsumers in order to build supply chains in Vietnam./.