Domestic consumption is running out of steam as consumers face uncertainties, along with changes in shopping habits. Meanwhile, businesses have reported it''s increasingly difficult to develop ways to maintain purchasing power and reduce inventory buildup, said industry insiders and economists.
Domestic consumption is one among three drivers for growth, besides investment and export, and is the only pillar which finished the target last year with the total retail sales of goods and services rising by 9.6 per cent.
Viet Nam’s growth rate targets of 6.3 per cent in 2022 and 6.8 per cent in 2023 are feasible, but greatly rely on how the pandemic develops over the next two years.
The domestic consumption of cement in the first eight months bounced
back to a sustainable status, which is being seen a relief for producers
with surplus inventories.