The Ministry of Industry and Trade (MoIT) has forecast that domestic consumption demand will recover and grow thanks to high vaccination coverage and the reopening of the tourism sector.
Hanoi (VNA) – The Ministry of Industry and Trade (MoIT) has forecast that domestic consumption demand will recover and grow thanks to high vaccination coverage and the reopening of the tourism sector.
However, the ministry said the Government’s economic stimulus packages may put more inflation pressure on the domestic market.
Given this, the MoIT said it will continue to keep a close watch on supply and demand as well as prices of essential goods, while closely coordinating with other ministries and agencies to control prices and prevent market manipulation.
The ministry will also partner with press agencies to provide consumers with information about the supply of essential goods.
Although the increasing demand for goods and complex developments of global fuel and material prices have pushed up prices, the market is still under control, according to the ministry.
Total retail sales of goods and services in May reached 477.3 trillion VND (20.58 billion USD), up 4.2 percent month-on-month, and 22.6 percent year-on-year, it explained.
In the first five months of this year, the value was 2.25 quadrillion VND, a rise of 9.7 percent from the same period last year.
The sales of goods alone increased 9.8 percent during the five-month period, with food and foodstuff up 13.1 percent.
Notably, sales of lodging and catering services rose 15.7 percent, and tourism expanded 34.7 percent as the demand increased during the National Reunification Day (April 30) and May Day holidays./.
Vietnam’s economy is forecast to grow beyond expectation in 2022 as domestic demand rebounds and foreign direct investment (FDI) inflows remains stable.
Members of the Vietnam Automobile Manufacturers Association (VAMA) sold over 36,962 autos in March, up 60 percent on the month, according to a recent VAMA report.
The capital city of Hanoi plans to strengthen promotion programmes to stimulate consumption, thereby supporting businesses and enhancing economic growth.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Source: VNA) 
