To stimulate demands and domestic growth

 Life has gradually returned to normal after the Covid-19, demand for goods and consumption is also increasing. While export is still facing many difficulties, it is the domestic market that is considered to become the "salvation" for enterprises.

Enterprises boost demand stimulation and domestic consumption promotion. In photo: A stall at Vietnamese Goods Fair in Thuan An City is held by industry and trade authority.

 Remarkable events

Over the first 6 months of 2020, most sectors and fields were affected, many socio-economic activities had to be halted and stopped to take measures of the epidemic prevention and control. However, with the best efforts, the province's socio-economic situation over the first 6 months attained a good growth. The trade - service sector emerged as an example for growth and sustainable development. Total retail sales of goods and services were estimated at 122,391 billion VND, up 9.4% over the same period last year. The consumer price index over the 6 months increased by 3.44% year-on-year.

With the determination of provincial leaders, industries, localities and enterprises, the whole province has effectively implemented the market stabilizing, commodity stockpiling program during Lunar New Year 2020 and Covid- 19 prevention and fighting. Especially essential items were monitored and controlled well. The market management, prevention of commercial fraud, fraudulent and counterfeit goods were strengthened to satisfy people's needs.

Industry and trade authority appreciates the participation of enterprises in the market stabilization work in recent years, especially during the epidemic. Accordingly, all units performed well and strictly follow plans issued by Provincial People's Committee, so as to avoid the scarcity of goods. Enterprises taking part in the market stabilizing program seriously performed the essential goods stockpile. In addition to stockpiling goods at existing supermarkets, businesses all have their own stockpiles (4 warehouses) with large capacity located in Binh Duong to well serve people needs, prevent early manifestations of speculation, hoarding to create virtual fever during the epidemic.

To stimulate domestic consumption

At the online conference between the Government and localities on the socio-economic situation over the first 6 months this year and missions, orientations for the last 6 months, Minister of Industry and Trade Tran Tuan Anh highlighted the encouraging information as total turnover of goods and service revenue had considerably increased. While in April, this figure dropped to 20.5%, the growth rate in May reached 31.8% and 6.1% in June. In particular, the retail selling sector in June increased by 4.1% over the previous month, and 9.4% over the same period of year 2019.

Regarding developing the domestic market, the industry and trade authority informed that the domestic stimulus program has started from 1st July with no restrictions in sale promotion to stimulate consumer demand, help businesses approach favorably the domestic market. Ministry of Industry and Trade will work together with ministries and branches to come up with comprehensive solutions related to stimulus, especially with specific stimulus schemes in localities and large economic centers to boost domestic consumption, contributing to growth.

In Binh Duong, after the social distancing period, so far socio-economic activities have been back to normal state, shopping and purchase of goods, services, consumption and tourism of people are increasing. Conventional markets, convenience stores, supermarkets, and commercial centers guarantee adequate supply of essential goods, no price fluctuations, and people tend to change consumer behavior towards Online Shopping. Accommodation and catering businesses have reopened, and public unease about diseases has been relieved. Enterprises, supermarkets also boosted promotions, demand stimulus, participated in Vietnamese goods fairs...

To further the gained results of the first 6 months and successfully fulfill the assigned targets, the industry and trade branch forecast that the province's industrial and commercial production would recover in the third quarter, sharply increase in the last months of 2020.

Reported by Tieu My - Translated by Ngoc Huynh

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