City targets surge in retail sales

Saturday, Jan 24, 2015 12:25

Customers flock to a trade fair for Tet held in HCM City. The city expects a 12-14 per cent increase in retail sales this year. — VNA/VNS Photo The Anh
HCM CITY  (Biz Hub) — The HCM City is eyeing a 12-14 per cent increase in retail sales and services this year to VND740.55 trillion (US$34.75 billion), according to the municipal Department of Industry and Trade.

It has also set a target of $34.95 billion from exports, an 8-10 per cent increase over last year, Le Van Khoa, the director of the department, told a review meeting yesterday.

Exports, excluding crude oil, were worth $27.89 billion last year, a year-on-year increase of 12 per cent, with shipments of industrial and processed goods increasing significantly from previous years, he said.

The city would strive to ensure balanced trade and prevent indiscriminate imports, especially of luxury goods.

The city would take measures to ensure inflation is lower than the national figure and to speed up restructure of the industrial sector so that it can play a greater role in the global value chain, Khoa said.

Amending zoning plans so that industrial parks and processing zones and industrial clusters specialise in certain industries, upgrading traditional markets, ensuring supply and demand are matched and strengthening market oversight are also on the cards for this year, he said.

It would undertake programmes to resolve difficulties faced by companies and help them sell more in both domestic and foreign markets, he said.

There would be focus on developing supporting industries to increase local content in industrial products, he said.

Deputy Minister of Industry and Trade Do Thang Hai hailed the efforts made by the city's industrial and retail sectors last year.

He urged the city to implement measures to help businesses expand investment and trade and integrate more with the global economy.

He also suggested that it should improve the efficiency of its programmes like price stabilisation and Vietnamese people prioritise using made-in Viet Nam goods and those to strengthen links between banks and businesses. — VNS

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