Speaking at a meeting on July 18 to review the performance of the industrial and trade sector in the second quarter and set tasks for the third, Nguyễn Nguyên Phương, the department’s deputy director, said enterprises faced great challenges in the first half of the year due to an increase in raw material prices, monetary policy tightening, the threat of recession in many countries, global inflation, and lower demand in key export markets.

But they made great efforts to overcome them, he said.

Many got enough orders to tide over the early part of 2023, and now manufacturing is showing signs of recovery, with the index of industrial production rising by 4.8 per cent year-on-year in June, he said.

In the first half of the year it had only risen by 1.9 per cent.

Retail sales of goods and services in HCM City were up 6 per cent to nearly VNĐ555.6 trillion (US$23.4 billion), but exports were down 22.4 per cent to $19.42 billion.

To continue its support to businesses, the department would, among other measures, speed up a project on developing the traditional market system and digital transformation, a master plan for export development and a plan to train human resources in the logistics sector, and continue international trade promotion programmes, he said.

It would make efforts to develop e-commerce and logistics this year and organise international exhibitions in electrical technologies, green power, supporting industries, and industrial machinery, he said.

It would strengthen links between producers, distributors and retailers in the city and elsewhere, organise a Vietnamese Goods Week in Thailand and implement the agreements for socio-economic cooperation the city signed recently with other cities and provinces, he said.

Big discounts on branded products

Nguyễn Khắc Hiếu, deputy head of the department’s import - export unit, said unlike in the past, when the annual "Shopping Season" promotion programme was for one month, this year it runs from June 15 to September 15 in three phases.

The first phase that ended on July 15 attracted the participation of more than 3,000 businesses who organised 7,200 promotion programmes, increases of 7.5 per cent and 20 per cent, he said.

Around 30 per cent of them offered discounts and freebies exceeding 50 per cent, mainly on consumer goods, food, fashion, cosmetics, and stationery, he said.

The programme helped increase retail sales of goods and services by 11.2 per cent year-on-year in June and estimated at VNĐ102.3 trillion, he said.

The second phase will focus on branded products, including imported ones.

It is expected to be held from August 25 to 27 at a hotel with some 70 booths set up by large and famous local and foreign brands. — VNS