HCM City aims to have 40 per cent of retail sales through modern distribution channels like malls and supermarkets by 2020, and 60 per cent a decade later.

This is part of its plan to develop the sector, and it also hopes to grow the retail and consumer services segments at 8.5 - 11.5 per cent a year by 2020, and 6.8 – 9 per cent a year in 2026–30.

To realise those ambitious goals, the city is working on developing its markets by fixing infrastructure and facilities including parking areas and storage systems. It will also improve the markets’ product and service quality, focusing on health safety and clear origins, as well as surveying markets with poor performance or quality, which will be closed down.

As for supermarkets and malls, authorities are seeking to usher in fair competition and rapid development.

The small neighbourhood shops that dot the city will be persuaded to upgrade into modern retail stores such as convenience stores or specialised stores to serve local needs and adopt modern quality assurance and service standards.

According to the city Department of Industry and Trade, there are 239 markets, 168 of them basic or temporary ones, 207 supermarkets, 43 shopping malls, and 1,800 convenience stores.

Nguyen Phuong Dong, deputy director of the department, said the retail market is growing robustly with more and more channels modernising. – VNS