Basic prices are stable, supply of essential goods is guaranteed

In the first quarter, the market mainly focused on serving Tet, with the early direction of the Government, ministries, localities and the active implementation of preparing essential goods for the market by businesses, the commodity market was always stable, the supply of Tet goods well met the increasing and diverse needs of the people. From the second quarter, the market focused on supplying goods to serve production and people's daily life. The supply of essential goods was always guaranteed, prices were relatively stable, especially for pork, due to the impact of the epidemic, the supply decreased in some periods, so the price fluctuated, however, due to many alternative food items, the price of pork did not increase suddenly. The price of energy fuel group items fluctuated according to world prices.

Total retail sales of goods and consumer services revenue in July 2024 increased by 1.4% over the previous month and by 9.4% over the same period last year thanks to the positive contribution of the tourism industry. In the first 7 months of 2024, total retail sales of goods and consumer services revenue at current prices are estimated at VND 3,625.7 trillion, up 8.7% over the same period last year (the same period in 2023 increased by 10.6%), if excluding the price factor, it increased by 5.2% (the same period in 2023 increased by 9.8%). Retail sales of goods alone are estimated at VND 2,801.1 trillion, accounting for 77.3% of the total and increasing by 7.4% over the same period last year (excluding the price factor, it increased by 4.3%). Of which, the group of food and foodstuffs increased by 10.7%; Household appliances, tools and equipment increased by 11.1%; clothing increased by 9.1%; means of transport (excluding cars) increased by 3.4%; cultural and educational items increased by 11.2%.

In the first 7 months of 2024, retail sales of goods in some localities increased compared to the same period last year, such as: Quang Ninh increased by 10.2%; Da Nang increased by 7.8%; Can Tho increased by 7.6%; Hanoi increased by 6.6%; Ho Chi Minh City increased by 6.3%.

In general, the domestic market continues to maintain a fairly high growth rate, with an upward trend since the beginning of the year; basic price levels are stable, and the supply of essential goods is guaranteed.

Regarding market management (MMO), the MMO force nationwide has developed and implemented plans and measures to inspect and handle violations, done a good job of managing the area, focused on inspecting and handling outstanding issues that cause public outrage; strengthened inspection and strict control of smuggled goods, counterfeit goods, trade fraud, poor quality goods and price posting, selling at the correct listed price, acts of taking advantage of the scarcity of goods in the market to speculate, hoard goods or take advantage of the epidemic to set unreasonable prices, especially for gold, gasoline, liquefied petroleum gas, food and other essential goods. At the same time, it is necessary to effectively carry out propaganda and dissemination of legal regulations on various fields of commercial activities for business establishments, contributing to raising awareness of law compliance, limiting violations of subjects in production and business activities, stabilizing the market and protecting the rights and legitimate interests of legitimate businesses and consumers. In particular, in the face of complicated developments in the gold market, implementing the Government's Official Dispatch No. 1426/CD-TTg dated December 27, 2023 on gold market management solutions and directives of the National Steering Committee 389, the Ministry of Industry and Trade has directed the Market Management Departments of provinces and cities to strengthen control and combat against gold smuggling. Accordingly, the Market Management force nationwide has simultaneously launched inspections, detected and handled many cases of gold...

According to the quick report of the market management force nationwide, from June 15, 2024 to July 14, 2024, the market management force detected and handled 3,937 violations; collected over 39 billion VND for the state budget.

Accumulated in the first 7 months of 2024: From December 15, 2023 to July 14, 2024, the Market Management force detected and handled 30,070 violations, collecting 338 billion VND for the State budget. The value of confiscated goods was 124 billion VND; The value of destroyed and forced-to-destroy goods was 159 billion VND.

Stabilize and develop domestic market

In the coming months, the Ministry of Industry and Trade will continue to accelerate the review, revision, development and completion of a number of legal documents serving state management in the domestic market sector to ensure that they are consistent with the practical situation, effectively serving the management of the macro economy and the purchase and sale of goods by people and businesses; Promote the implementation of the Competition Law to create a fair and healthy business environment.

Promote the effective implementation of the Domestic Trade Development Strategy for the period up to 2030, with a vision to 2045, and Programs and projects on domestic trade development such as: Project on Innovation in Agricultural Product Consumption Business Methods for the period 2021 - 2025 with a vision to 2030; Project on Domestic Market Development in conjunction with the Campaign "Vietnamese people prioritize using Vietnamese goods" for the period 2021-2025; Program on Trade Development in Mountainous, Remote, and Island Areas for the period 2021-2025; Program on Developing Vietnam's Border Trade Infrastructure for the period 2025, with a vision to 2030; Project on Anti-Counterfeiting and Consumer Protection in E-Commerce for the period 2021-2025; National E-Commerce Development Plan for the period 2021-2025...

Continue to improve the legal system and institutions on PVTM towards protecting the domestic economy, enterprises and market in accordance with international commitments and integrating PVTM tools into plans, guidelines and policies to develop domestic production.

Continue to coordinate with ministries and local branches to closely monitor market developments, ensure adequate supply of essential goods to meet people's needs; strengthen the fight against smuggling, trade fraud and counterfeit goods to serve the country's socio-economic development./.