Sir, according to the Statistics Office (Ministry of Finance), total retail sales of goods and consumer service revenue in the first 9 months of the year increased by 9.5% over the same period last year; if price factors are excluded, the actual increase will reach 7.2%. How do you evaluate this growth rate compared to the target of 12% set in Resolution 25/NQ-CP?
- Domestic consumption is becoming one of the most important drivers of Vietnam's economic growth in 2025, especially in the context of investment and export still facing many challenges from outside. The 12% increase target is the effort and determination to achieve double-digit growth, compensating for other sectors that are still slow. The increase of 9.5%, in fact, 7.2% after deducting price factors, shows that total domestic demand maintains a good increase, contributing positively to economic growth.
However, to achieve the set goals, more stronger consumer stimulus measures are needed in the last months of the year. It is necessary to encourage consumption by continuing to implement policies to reduce VAT, personal income tax, increase basic salary, and support social security. At the same time, reduce financial obligations for businesses so that they can lower selling prices, increase output and improve income for workers. Finally, it is necessary to improve the private investment environment, encourage businesses to expand production, thereby increasing both production demand and stimulating domestic consumption.
How do you evaluate the participation of the Government and ministries and branches in stimulating consumption at the end of the year in recent times?
- Recently, the Ministry of Industry and Trade coordinated with the Ministry of Culture, Sports and Tourism and the Hanoi People's Committee to organize the 2025 Autumn Fair - the largest consumer event, connecting supply and demand of the year. The fair has brought in impressive total direct revenue of nearly 1,000 billion VND. After the 2025 Autumn Fair, the 2025 National Concentrated Promotion Programs will take place from December 1, 2025 to January 18, 2026 nationwide, combining both traditional trade and e-commerce.
So what should businesses do to grasp the opportunities to stimulate consumption in the last months of the year?
- First of all, businesses need to proactively research new markets and consumer behavior. Enterprises must regularly update consumer trends, from green, environmentally friendly products to high-quality Vietnamese goods and sophisticated designs.
From there, build business scenarios suitable for each peak period, especially the holiday season and Lunar New Year - the time when purchasing power increases the most strongly in the year.
Second, it is necessary to promote marketing, creative communication and in-depth promotional programs. In particular, cohesion in the business community and close coordination with management agencies are indispensable. When businesses participate together in the program "Vietnamese people prioritize using Vietnamese goods", stimulus fairs, Tet weekly markets... the effectiveness of the spread will be much greater.
Thank you!
