In its efforts to drive the development of the wholesale and retail trade sector to satisfy a growing local consumption demand and keep up with the trend of global integration, the Da Nang government has drawn up a chain of many highly feasibly solutions to create a new push for its trade and service industries.

The diversified source of goods has helped the Big C Mart become a major distribution channel for local consumers

Da Nang now houses nearly 80 traditional markets with a combined total of more than 20,900 stand holders, along with a large network of trade centres, supermarkets and convenience stores making their berths in every corner of the inner city. 

In particular, retail sales in Da Nang are regaining momentum in the wake of a slump in consumer demand and disruption to supply chains sparked by the coronavirus crisis. According to the city’s economic experts, retail activity has much faster bounced back than others hit by the pandemic.

Latest data published by Da Nang Department of Industry and Trade shows retail sales in the city has generated a rapid growth rate with annual volumes climbing by an average of more than 15%.

The hike clearly reflected strong purchasing power in the local market, which contributed significantly to its overall economic growth. The foot traffic in bricks-and-mortar retails venues, including many malls, retail centres and markets, have enjoined an encouraging increase over recent times.

Noticeably, the Da Nang government has given the green light to a project for developing wholesale and retail trade in the city to 2030, with a vision to 2045.

Over the 2020 - 2025 period, the annual growth rate of the total retail sales recorded in the city will reach 15-16% on average, and 14-15% set up for the 2025-2030 period.

Besides, the proportion of goods retail sales through modern distribution systems in the city to the minimum will account for at least 45% by 2025, 65% by 2030 and then, 80% by 2045.

Shoppers picking up their favourite items at the Co.op Mart Da Nang

With regard to wholesale trade, work is getting underway on the Hoa Phuoc wholesale market project in Hoa Vang District under the public-private partnership (PPP) format. Meanwhile, the existing Hoa Cuong wholesale will be converted into  retail market, whilst the Tho Quang seafood wholesale market will be expanded to the northern side of the city.

In particular, more duty-free trade centre and high-end shops will be developed in the northwestern part of the city to stimulate shopping demand.

In parallel, heed will be paid to encouraging the formation of new trade centres serving the diverse needs of locals and visitors, in association with the development of logistics services, including goods packaging, on-site flight procedures and VAT refund.

Last, but not least, hypermarkets and modern supermarkets will be developed in new urban areas in the Lien Chieu and Ngu Hanh Son districts, near the Da Nang Hi-Tech Park, Hoa Khanh and Hoa Cam industrial parks and the Tho Quang Seafood Service Industrial Zone. Also, convenience and retail stores which operate around the clock will be set up in busy residential areas citywide.

By KHANH HOA – Translated by A.T