Wednesday, August 15 2018


Commercial sector needs long-term strategy

Update: July, 12/2012 - 10:46

HA NOI — A long-term development strategy was needed to spur the local commercial sector and to help businesses to overcome difficulties in the context of economic turmoil, said industry insiders.

Domestic business performance had seen many unusual developments with the cost of essential goods remaining high and low purchasing power that had caused rising inventory levels that were creating difficulties for businesses, said Deputy Minister of Industry and Trade Ho Thi Kim Thoa.

In a seminar organised by the Ministry of Industry and Trade late last week, participants outlined suggestions to ease difficulties for local trade development by rezoning the industry sector, industrial parks, key industries and support industries.

Businesses were asked to tackle the difficulties and obstacles facing them. They were also required to enhance training and to promote trade activities while selecting projects with state-of-the-art technology and large investment.

Le Hong Thang, director of the Ha Noi Department for Industry and Trade, said to develop commercial infrastructure facilities in Ha Noi, the State should study and issue comprehensive policies to provide legal corridors for the development of modern supermarkets and trade centres.

Truong Minh Thanh, deputy director general of the Ha Noi Trade Corporation (Hapro), said city authorities and agencies should offer incentives and minimise administrative procedures to assist businesses.

Deputy director of Hai Phong Department for Industry and Trade Nguyen Binh Minh said inspecting and handling fake and poor quality products while enhancing co-ordination between concerned agencies in the fight against trade fraud helped stabilise the local market and generate a healthy business climate.

Gained results

In the first half this year, despite difficulties including high inflation and lending interest rates, business performance continued to grow.

According to reports from these cities, Hai Phong took the lead with an increase of 6.4 per cent followed by HCM City which was up by 5.4 per cent. Industrial production in Ha Noi rose by 4.8 per cent and in Da Nang it was up by 4.9 per cent.

The circulation of retail goods in these five cities was estimated to have reached VND515 trillion (US$24.5 billion) or a 23 per cent year-on-year increase

Also in the first six months, total export turnover in these cities reached nearly $21 billion, a year-on-year increase of 10.4 per cent. — VNS

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