HCM CITY — With many of its traditional markets being rundown, consumer preferences evolving and competition from modern retail formats increasing, HCM City is trying to modernise and revitalise them, according to its Department of Industry and Trade.

The department held a seminar titled “Traditional Markets in HCM City – Looking to the Future” early this week, where it announced the results of phase 2 of a study proposing pilot models and solutions for the development of traditional markets through this decade in the context of rapid digital transformation.

Nguyễn Nguyên Phương, deputy director of the department, said traditional markets were a part of the city's history.

As HCM City expanded, numerous iconic markets emerged, including Cầu Ông Lãnh, Cầu Muối, Bình Tây, An Đông, Hòa Bình, Xóm Củi, Tân Định, Bà Chiểu, Soái Kình Lâm, Tân Bình, An Lạc, and Phạm Văn Hai.

These catered to both wholesale and retail needs, and offered a diverse range of goods from agricultural products and food, cosmetics, handicrafts, and textiles to machinery, chemicals, construction materials, and home decor.

They were more than commercial spaces and were vital parts of the socio-economic infrastructure and cultural life of the city.

They facilitated the exchange of goods between producers and consumers, serving as hubs for daily food supply and community engagement, Phương added.

There are 232 traditional markets, which handle 60–65 per cent of the goods supply to the city. In comparison, supermarkets account for 13–15 per cent and businesses involved in the city’s price stabilisation programme and other suppliers for 22–25 per cent.

Associate Professor Dr. Hoàng Công Gia Khánh, rector of the University of Economics and Law, reiterated the importance of traditional markets to the city’s socio-economic development.

But modern consumers are increasingly concerned about food safety and product origins, while many traditional markets have crumbling infrastructure and outdated operations, fail to list prices, sell counterfeit goods and those with unclear origin, causing them to switch to modern retail.

A representative from the project’s consulting team highlighted further challenges like limited public investment, insufficient commercial development planning, poor sanitation, and outdated management practices.

Experts at the seminar said when the city integrates with Bình Dương and Bà Rịa – Vũng Tàu provinces, the number of its markets could exceed 500, which would require comprehensive planning.

They recommended revising Decree 60 on market management, particularly for classifying market types to match the needs of specific customer groups: for instance, worker markets, street markets for low-income people, specialised markets for the elderly, and youth-oriented markets equipped with modern amenities.

They also emphasised the need to enhance service quality and have policies to attract private and community investment in markets.

Technology was identified as a crucial driver of modernisation.

The integration of cashless payment systems, fast delivery services and linking with public transportation such as the metro could make traditional markets more appealing and help transform them into modern retail destinations.

Participants also underscored the importance of Government support for financing, managing and promoting market revitalisation.

Iconic markets like Bến Thành and Bình Tây should be preserved as cultural heritage landmarks and integrated into the city’s tourism and commercial development strategies, they added. — VNS