A national promotion month entitled ‘Viet Nam Grand Sale 2020’ will be held from 1 to 31 July by the Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade to stimulate domestic consumption.

The recent briefing of the national promotion month ‘Viet Nam Grand Sale 2020’ in Ha Noi. — Photo kinhtedothi.vn

The promotion month will be held at the same time on a national scale, combining traditional trade and e-commerce, Vietrade director Vu Ba Phu said in a recent briefing in Ha Noi.

The event is expected to draw a large number of enterprises, he said.

During the month, participating enterprises can offer promotions of up to 100 per cent instead of 50 per cent as prescribed, Phu added.

For her part, deputy director of the ministry's Domestic Market Department Le Viet Nga said she hoped the promotional month would attract a large number of consumers, stimulate domestic consumption and promote retail sales.

The nations' total revenue of retail trade and services exceeded 1.91 quadrillion VND (US$82.36 billion) in the first 5 months of this year, down 4 per cent year-on-year, a report from the General Statistics Office (GSO) showed. 

Retail sales of goods during the period were estimated at 1.54 quadrillionVND, representing a modest rise of 1.2 per cent year-on-year or accounting for 80.6 per cent of total revenue.

Source: VNS