Retail sales of goods, services up 8.1% in January
Total retail sales of goods and revenue from consumer services in January were estimated at 524.1 trillion VND (21.47 billion USD), up 8.1% year-on-year, as consumers have been on the mood to shop for the upcoming Tet (Lunar New Year) Festival, according to the General Statistics Office (GSO).
Hanoi (VNA) – Total retail sales of goods and revenue from consumerservices in January were estimated at 524.1 trillion VND (21.47 billion USD),up 8.1% year-on-year, as consumers have been on the mood to shop for theupcoming Tet (Lunar New Year) Festival, according to the General StatisticsOffice (GSO).
Without taking inflation into account, the retail sales rose 5.8%, the GSO reported.
Consumers splurged on cultural and educational items, household appliances,catering services and travel the most in the runup to Tet holiday.
Retail sales of goods totalled 407.5 trillion VND, increasing 7.3% from thesame time last year. Meanwhile, revenue from accommodation and catering services rose by 10.2% to 58.9 trillion VND.
Thanks to the sound tourism promotion policy that helps popularise Vietnam as asafe destination, the country welcomed more than 1.5 million foreign tourists in January, going up 10.3% from the previous month, and 73.6% year-on-year. Tourismearnings went up 18.5% year-on-year to 4.4 trillion VND.
Revenue from other services was estimated at 53.2 trillion VND, up 11.2%year-on-year.
Economists said the Tet shopping season is thegolden time for enterprises and retailers to promote domestic consumptionstimulus and increase sales right from the outset of the year.
They also advised enterprises to outline rational market and businessstrategies, making them fit the new consumption trend in the domestic andforeign markets./.
All the three economic growth drivers of investment, export, and consumption have good opportunities in 2024, Deputy Minister of Planning and Investment Tran Quoc Phuong told the Government’s regular press conference on December 6.
The offering of promotions with attractive discounts, even 100%, at the national scale by producers and distributors is expected to help boost the circulation of goods and encourage people to shop more.
Purchasing power for the traditional Lunar New Year (Tet holiday) will increase 10% from the same time last year, according to the Ministry of Industry and Trade.
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
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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.
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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.
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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.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
At a supermarket in Hanoi (Photo: VNA) 
