Vietnam’s total retail sales and service revenue are estimated to have accelerated by 19.8 percent year-on-year to VND1,141 trillion ($57 billion) in the first six months of this year, said Nguyen Nam Hai, deputy minister of Industry and Trade.
The foreign direct investment (FDI) sector saw highest increase of 34.2 percent, followed by private and individual sectors, rising 26.4 percent and 20.4 percent, respectively. State sector expanded only 1.1 percent in the period.
Tourism industry posted highest growth of 27 percent which is followed by services with a rise of 22.8 percent; the hotel and restaurant industry up 20.6 percent and trade up 19.3 percent
The Market Department of the Ministry Of Industry And Trade forecast that there will be no price hike driven by market sentiment as supply is abundant and demand falls.
The Ministry said it will closely monitor the supply-demand of essential goods to avoid shortage of supply and price fever.