The Strategy "Development of domestic trade in the period to 2030, with a vision to 2045".

Published on 14 - 07 - 2021

On 13/7/2021, the Prime Minister issued the Decision No. 1163/QD-TTg approving the Strategy "Development of domestic trade in the period to 2030, with a vision to 2045".

According to the Decision, the overall goal of the Strategy "Development of domestic trade in the period to 2030, with a vision to 2045" is to develop modern, civilized, fast-growing and sustainable domestic trade, which is a pedestal and solid fulcrum for domestic production to be increasingly innovated and developed; build brands of Vietnamese goods, protect the interests of consumers, domestic production and business enterprises and the economy, meet the increasing requirements of the socio-economic development, create a solid premise to deeper participate in integration into the regional and world economy.

The specific goals for the period of 2021-2030 are as follows:

- The added value of domestic trade achieves an average growth rate of about 9.0 - 9.5%/year; by 2030, contributing about 15.0 - 15.5% to the national GDP.

- Total retail sales of goods and consumer services revenue (not excluding the price factor) gain an average growth rate of 13.0 - 13.5%/year; by 2030: The proportion of the total retail sales of goods in the domestically economic sectors accounts for about 85%, the foreign-invested economic sector (FDI) accounts for about 15% of the total retail sales of goods of the whole country; total retail sales of goods and consumer services revenue, which are exchanged through modern retail establishments (such as supermarkets, commercial centers, convenience stores, warehouse-like member stores) in the total retail sales of goods and consumer services revenue account for about 38-42% of those in the whole economy;

- E-commerce develops quickly with a complete legal corridor and applies modern technology and technical infrastructure along with adequate support facilities, ensuring safety and convenience for businesses and consumers in the process of participating in transactions; by 2030, the revenue exchanged through e-commerce will account for about 10.5 - 11% of total retail sales of goods and consumer services revenue of the whole economy, achieving an average growth rate of about 20 - 21%/year; strive to reach over 40-45% of the number of small and medium-sized enterprises operating in the field of commerce (including small and medium-sized commercial enterprises, the ones transformed from commercial and individual economic establishments, creative start-ups businesses) to join major domestic and foreign e-commerce platforms.

- The legal framework, institutions and policies for domestic trade development have been basically completed and synchronized, and the effectiveness of state management has been consolidated and enhanced. A favorable business environment creates conditions for all economic sectors to participate in the market and healthy competition, ensuring that commercial activities operate in accordance with market rules and the domestically economic development conditions and requirements of integration; basically forming a policy framework on supporting the development of a sustainably green distribution system, ensuring the effective performance of sustainably green distribution models.

- The system of commercial infrastructure develops synchronously and diversifiedly, harmoniously combines traditional trade with modern one, suitable to the nature and development level of the market in each locality (regions, areas and the whole country); commercial infrastructure in urban areas is modernized, applying digital technology in management, exploitation and operation; essential commercial infrastructure in rural areas is fully developed, effectively serving business activities and people's daily needs.

The strategy "Development of domestic trade in the period to 2030, with a vision to 2045" offers eight points of view, specifically:

- To develop domestic trade to become a solid bridge between production and consumption, playing an important role in orienting and leading domestic production to develop according to market signals, promoting capacity and endogenous strength of the domestic market.

- Domestic trade development must be consistent with objective rules of the market economy and commitment to international economic integration. The State plays the role of orienting, building and perfecting the institution in the direction of modernity, creating an environment for domestic trade development in a favorable, stable, transparent manner, with fair, healthy competition and ensuring the autonomy and freedom in trading of the participants.

- Development of domestic trade must be fast and in-depth, coupled with investment efficiency, associated with the scale and level of development of domestic production and consumption, in line with the socio-economic development strategy in each stage and the process of integration with the country's international economy. To focus on building the reputation of products and developing Vietnamese brands, constantly promoting the internal strength of the domestic market, considering it as the basis for active, proactive and effective integration with the regional and international market.

- To develop domestic trade in association with the diversified development of ownership regimes, types of organizations and modes of operation of entities of all economic sectors. To pay attention to developing small and medium enterprises, creating favorable conditions for individual economic households and cooperatives and cooperative groups of farmers to join the market; encouraging and promoting the development of a core force that are large-scale domestic distribution corporations and enterprises with modern distribution systems with the role of leading the market to orient production and consumption.

- To develop domestic trade on the basis of strongly attracting social resources, especially the private economy. To encourage the ability to accumulate and concentrate resources of enterprises of all economic types to invest and expand their business networks; develop harmoniously, synchronously and gradually modernize material and technical facilities to effectively serve domestic commercial activities.

- To determine that the domestic market will act as the main driving force to promote the country's socio-economic development, strengthen the effective exploitation of the domestic market with over 100 million people; the development of rural, mountainous, remote and island markets should be considered as a key task throughout the strategic period; make the most of the advantages of the openness of domestic trade, limit the negative effects before political and economic risks in the world, reduce dependence on external factors.

- To develop domestic trade on the basis of effectively promoting potentials, advantages and creativity, make effective use of achievements of the Fourth Industrial Revolution; encourage the development of commercial forms based on new technology platforms and digitalization platforms; consider e-commerce as an important tool to modernize domestic commerce in the new period.

- To promote the development of domestic trade, at the same time strengthening state management, effectively protect the domestic market, and create motivation for domestic enterprises to participate in stabilizing market prices; building a modern civilized commerce associated with protecting the interests of businesses, the interests and health of consumers, the task of protecting the ecological environment and sustainable development, responding to climate change and ensuring national defense and security.

In addition, the Decision also sets out the main orientation for developing domestic trade in the period to 2030, with a vision to 2045; main tasks and solutions to develop domestic trade in the period up to 2030, with a vision to 2045; capital and organization to implement the Strategy.

Latest new

The Official Letter on the support to reduce electricity prices and bills at the 5th phase for...(07/09/2021 4:15 CH)

The Directive to the Prime Minister on accelerating the implementation of the Master Program on...(03/09/2021 10:58 SA)

The Official Letter on strengthening the testing to prevent and control the Covid-19 epidemic(02/09/2021 11:26 SA)

The Government promulgates a Decree amending on on-lending of ODA loans and foreign preferential...(17/08/2021 10:14 SA)

The Directive to the Prime Minister on promoting land use planning and plans at all levels(13/08/2021 10:22 SA)

The Official Letter of the Ministry of Health on the prevention and control of Covid-19 epidemic...(13/08/2021 4:26 CH)

To strengthen the prevention and control of the Covid-19 epidemic(01/08/2021 11:06 SA)

To strengthen the management of people from Hanoi city and epidemic areas coming to the province(25/07/2021 10:14 SA)

299 online users