By 2025, continue to make the domestic market a solid "line of defense"

In 2025, the Ministry of Industry and Trade determined to continue its efforts to maintain the domestic market's growth momentum, becoming a solid "line of defense" for the macro economy.

Domestic market plays an important role

In order to balance the supply and demand of domestic goods in the domestic market, recently, the Ministry of Industry and Trade has presided over and coordinated with relevant units to continue to coordinate with local ministries and branches to closely monitor market developments, ensure adequate supply of essential goods to serve people's needs, especially during peak holidays and Tet, to avoid shortages and fake prices; coordinate with media units to provide full information to people about market prices, stable points of sale, supply situation... to create a stable mentality for consumers, promptly handle false information that causes psychological instability for consumers.

The domestic market plays an important role in macroeconomic growth.

The Ministry of Industry and Trade also coordinates with the Departments of Industry and Trade, associations, and industries to strictly and effectively implement the directive documents to promote the consumption of agricultural products of provinces across the country, deploy activities to support the purchase and processing of agricultural products of localities with large agricultural output that are in or about to enter the harvest season, and promote the promotion of agricultural product consumption at home and abroad...

The Ministry has approved Decision No. 740/QD-BCT on promulgating the Plan to implement the Action Program of the Ministry of Industry and Trade in response to the 2024 Campaign and issued a Decision on perfecting the Steering Committee and socio-economic development of ethnic minority and mountainous areas; the Program on trade development in mountainous, remote and island areas for the period 2021-2025; the National Target Program on new rural construction in 2023; the Project "Innovation in agricultural product consumption business methods for the period 2021-2025 with a vision to 2030"; implementing support for building sales points and introducing OCOP products in some localities under the OCOP Program...

Regarding specific solutions, in the first quarter of 2024, in order to ensure the supply of essential goods during the 2024 Lunar New Year, the Ministry of Industry and Trade issued Directive No. 13/CT-BCT dated October 30, 2023 on implementing solutions to ensure supply-demand balance and market stabilization at the end of 2023 and during Tet. Implementing the direction of the Ministry of Industry and Trade, the preparation of goods for Tet has been prepared quite thoroughly and early by localities and enterprises. Along with that, favorable weather has supported agricultural production, the supply of food is abundant and diverse, so the prices of food goods in the days before Tet have been relatively stable.

In the third quarter, some northern localities were affected by storms and floods (storm No. 3), causing great damage to people and property. Many areas were flooded and isolated, causing difficulties in the supply of goods. The Ministry of Industry and Trade, in coordination with ministries and localities, focused on directing the Departments of Industry and Trade of localities and large distribution enterprises to deploy the work of reserving and supplying essential goods, ensuring the lives of people in affected areas. In addition, the Ministry of Industry and Trade also promptly informed people about the situation of reserving and supplying goods of distribution systems, contributing to creating a stable psychology for the market.

As a result, the domestic commodity market has basically remained stable, supply and demand of goods have been maintained, other essential goods, stable supply so prices have not fluctuated much, some energy fuel group items have prices fluctuating according to world prices such as gasoline, LPG, thereby, making an important contribution to the goal of actively contributing to the macro economy to maintain growth momentum.

For businesses, the domestic market continues to affirm its important position in growth. Talking to reporters of Industry and Trade Newspaper, Mr. Hoang The Nhu - Deputy General Director of May 10 Corporation - JSC said that in the period of 2023-2024, May 10 has implemented many large projects to serve the domestic market such as the May 10 Centurion fashion center chain, a system of stores in most provinces and cities across the country such as: Hanoi, Hai Phong, Thai Binh, Ho Chi Minh City... It is expected that in 2024, May 10 will open 10 more retail systems and stores nationwide.

In the domestic market, May 10 is considered one of the leading enterprises in the office fashion sector in Vietnam (used by many agencies, departments, and office workers) with a variety of product lines. Moreover, the channel meets the needs of personalization. May 10's high-end tailor-made veston service is currently quite successful in the high-end segment for politicians, successful businessmen, etc. In recent years, the Corporation's revenue has always had an average growth of over 10% compared to the plan. This fact shows that May 10's strategy to conquer the domestic market is on the right track.

Mr. Le Hoang Khanh Nhut - General Director of Danang Rubber Joint Stock Company (DRC) also shared that tire manufacturing is an industry with its own characteristics, so in order to conquer the domestic market, DRC has promoted investment cooperation and technological innovation to ensure that its products serve the market. In addition, efforts are made to reduce costs so that products can harmonize the interests of businesses and consumers. Therefore, over the years, DRC has been continuously trusted and chosen by customers and over the years, DRC's growth rate has been very good.

Up to now, DRC products are not only supplied domestically but also supplied to nearly 50 countries in the world, including very demanding countries such as the United States, EU, and South America. Currently, the domestic market share of the product is about 30%, 70% for export.

Continue to make the domestic market a solid "pillar"

To prepare the supply of goods for the upcoming Lunar New Year, the Ministry of Industry and Trade issued Directive No. 12/CT-BCT dated November 20, 2024 on implementing solutions to ensure supply-demand balance and market stabilization at the end of 2024 and the Lunar New Year 2025.

In 2025, the Ministry of Industry and Trade determined to continue its efforts to increase total retail sales of goods and consumer service revenue by 9% over the same period in 2024.

To achieve this goal, regarding domestic trade development, the Ministry of Industry and Trade determined to continue to coordinate with ministries, branches and localities to closely monitor the market situation, implement measures to ensure balance of supply and demand of goods, especially during holidays and Tet, making it easier to implement solutions to stimulate consumption and promote domestic trade.

Continue to effectively implement programs and projects on domestic market development such as: Domestic market development project associated with the Campaign "Vietnamese people prioritize using Vietnamese goods"; National target program on socio-economic development in ethnic minority and mountainous areas; Trade development program in mountainous, remote and island areas for the period 2021-2025; National target program on new rural construction in 2023; Continue to support the construction of sales points and introduce OCOP products in some localities according to the One Commune One OCOP Product Program...

Talking to reporters of the Industry and Trade Newspaper, Dr. Nguyen Minh Phong shared that in order for the domestic market to continue to become a solid "support", it is necessary to launch coordinated programs from the national, to local, to business associations to build major brands, conquering consumers not only domestically but also abroad. At the same time, there should be policies to protect Vietnamese brands by preventing smuggled goods, unfair competition, and fraudulent origin; building technical barriers to improve the quality of Vietnamese goods, meeting international market standards. Combined with financial mechanisms, markets, brand promotion, and dispute settlement, it will create a synchronous system to enhance the competitiveness of Vietnamese goods, promoting domestic market growth.

Source: https://congthuong.vn/nam-2025-tiep-tuc-dua-thi-truong-noi-dia-tro-thanh-tuyen-phong-ngu-vung-chac-363911.html