Speaking at the event, MOIT Deputy Minister Do Thang Hai said that the Covid-19 pandemic has seriously affected trade, service and import-export activities, with the service sector in the first half of the year registering the lowest growth pace over the same period from 2011-2020.

Delegates perform the ritual to launch domestic consumption stimulus programmes and a concentrated national promotion month on July 1.

The MOIT has designed an action plan of the sector aiming to realise the goals of combating the disease, promptly reviving and promoting industrial and trade development, and achieving the highest possible growth target in 2020, thus creating a good foundation for growth in the following years, he stated.

According to the deputy minister, one of the key tasks to achieve these goals is to launch programmes to stimulate domestic consumption, expand the domestic market, and support production and business companies.

He voiced expectations that with the response of localities, industry associations and businesses, and especially the dozens of millions of Vietnamese consumers, the concentrated national promotion month will be a “lever” effectively stimulating consumption and promoting the growth of total goods movement and service revenue across the country, thus helping enterprises restore and boost production activities and contributing to the country’s economic recovery and the acceleration of the “Vietnamese people prioritise the use of Vietnamese goods” campaign.

Introducing the ministry’s domestic consumption stimulus programmes, Tran Duy Dong, Director of the MOIT’s Domestic Markets Department, said that they would be organised through a number of activities integrated into national projects and programmes, such as the national agricultural extension programme until 2020, the “One Commune One Product (OCOP)” programme, the project to develop the domestic market associated with the “Vietnamese people prioritise using Vietnamese goods” campaign for 2014-2020, and the national trade promotion programme.

According to Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (VIETRADE), the concentrated national promotion month 2020 will be organised concurrently on a national scale, combining traditional trade and e-commerce, and is expected to create a spillover effect while attracting the participation of a large number of enterprises across various areas.

A new point of this year’s event is that enterprises may offer promotions of up to 100% instead of 50% as prescribed, he noted.

Deputy Minister of Industry and Trade Do Thang Hai speaks at the event.

Deputy Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan said that the department has been working with VIETRADE and the Domestic Markets Department to implement many domestic stimulus programmes and remove difficulties for businesses, such as organising trade promotion conferences and fruit & farm produce weeks.

In particular, the capital city is planning to organise 200 stimulus events on consumer spending, such as Golden Days Promotion, golden market sessions, the observance of the Vietnamese Consumer Rights Day, 100 sales points in tribute to local consumers, a golden export fair with 300 pavilions, 12 stimulus events held by district-level People’s Committees, the consumption festival 4.0, and the tourism promotion festival, to leverage domestic consumption demand.

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Source: NDO