Ho Chi Minh City recorded a year-on-year rise of 12.2 percent in total retail sales and consumer service revenue to nearly 600 trillion VND (25.8 billion USD) in the first half of 2019.
Consumers shop at a Saigon Co.op supermarket in HCM City (Photo: VNA)
Hanoi (VNA) – Ho Chi Minh City recorded ayear-on-year rise of 12.2 percent in total retail sales and consumer servicerevenue to nearly 600 trillion VND (25.8 billion USD) in the first half of2019.
Of the total, nearly 400 trillion VND came fromretail sales, up 13.8 percent, according to the municipal Department ofIndustry and Trade.
Local officials attributed the growth to thesustained and fast economic expansion and consumer confidence of both HCM Cityand Vietnam, which in turn have stimulated domestic production, especially themanufacturing of essential consumer goods.
Notably, several electronics supermarket chainsin the city posted revenue surge during the six months, including Dien may xanhover 100 percent or Nguyen Kim 78.5 percent compared to the same period lastyear.
The Industry and Trade Department said the localretail market outlook for the rest of this year stays positive, adding that supplywill remain abundant and prices be relatively stable.
It predicted the growth rate of retail sales andconsumer service revenue at 13 – 14 percent this year, meeting the set target.
At present, HCM City is home to 239 markets, 205supermarkets, 46 shopping malls and 2,360 convenience stores.Vietnamese-invested supermarkets and convenience stores are dominating as theyaccount for 73.6 percent and 67 percent of the total outlets of their types,respectively.-VNA
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Consumers shop at a Saigon Co.op supermarket in HCM City (Photo: VNA) 
