Vietnamese businesses stimulate domestic consumption
(VOVWORLD) - As Vietnam is rebooting its economy as the Covid-19 epidemic subsides, the domestic market of nearly 100 million people is seen as a huge potential to rescue businesses.
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The garments and textiles sector’s export revenue in April declined 20% compared with the previous month. The sector earned about 10 billion USD from export in the first 4 months, a reduction of 6.6% from last year. Garments and textile businesses are focusing more on the domestic market.
Bui Duc Thang, Marketing Chief of May 10 Garments and Textiles Company, said: “We notice a good sign that customers prefer our products very much. We have introduced office fashion lines. Revenue has gradually increased and our business has fairly returned to normal.”
The total retail sales of consumer goods and revenues of consumer services in the first 4 months reduced 4.3% against last year.
Nguyen Tien Vuong, Deputy General Director of Hanoi Hapro Group, said the domestic market will provide an opportunity for businesses.“During the pandemic, we have refurbished our convenient stores and food shops in the inner city to better serve the people. We’ll continue to repair and build 100 more convenient stores in the future.”