Intellasia East Asia News – Hanoi strengthens consumption stimulus programmes

The capital city plans to strengthen promotion programmes to stimulate consumption, supporting businesses and enhancing economic growth.

Hanoi is implementing a series of promotional programmes for 2022, focusing on May, July and November at more than 2,000 sales points of businesses.

Notably, the businesses have registered more than 10,000 promotion programmes with the Department of Industry and Trade in May, worth nearly VND20 trillion. In July and November, Hanoi expects to have about 25,000 promotion programmes.

“The most important stimulus solution is to ensure the quality of goods and increase incentives for customers, and at the same time, the enterprises must enhance the production of high-quality goods,” Tran Thi Phuong Lan, acting director of the Hanoi Department of Industry and Trade.

In addition, many trade promotion activities will be implemented to support connections, brand promotion and product consumption for Vietnamese businesses.

Hanoi will also organise a supporting industry fair to display key industrial products; and an exhibition for the introduction and sale of handicraft products manufactured under the One Commune, One Product (OCOP) programme.

Hanoi will create favourable conditions for businesses and cooperatives of other provinces and cities in supplying agricultural products and food, and carrying out trade promotion activities in the city.

Trade promotion programmes are associated with promoting the branding of Vietnamese goods. They are expected to efficiently connect production and consumption, and increase revenue for businesses as well as total retail sales of goods and services, helping the city achieve its socio-economic development goals.

Besides that, the capital city continues to carry out programmes to stabilise the market of essential products. Accordingly, enterprises are asked to ensure the supply of goods, and transport of customers and goods.

Nguyen Manh Quyen, vice chair of Hanoi People’s Committee, said Hanoi’s promotion programmes are creating favourable conditions for businesses to recover and develop production and business, and contributing to completing the socio-economic targets of the city in 2022.

Departments, districts, towns and associations continue to support connections, administrative reform, and the removal of difficulties for businesses, Quyen said.

Businesses need to prepare enough goods and ensure quality, clear origins and reasonable prices. They also need to deploy attractive promotion programmes, he said.

In addition, producers and traders of Vietnamese products favoured by consumers need to develop and advertise brands, and expand domestic and export markets.

According to Lan, the pandemic has had a great impact on consumers’ incomes, causing a significant reduction in purchasing power. However, since the end of 2021, Vietnam has controlled the pandemic, so many commercial and service activities have gradually resumed, contributing to the recovery of economic growth.

Total retail sales of goods and services in April was estimated at VND53.6 trillion, up 2.8 per cent on month and 7.1 per cent on year.

In the first four months of this year, the total retail sales of goods and services reached VND214.8 trillion, an increase of 8.4 per cent on year.

Hanoi’s consumer price index (CPI) in April decreased slightly by 0.05 per cent on month. But CPI increased by 2.13 per cent compared to December 2021 and 3.42 per cent over the same period last year.

The city’s average CPI of the first four months of 2022 increased by 2.85 per cent on year.


Category: Business, Vietnam

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