In the first 7 months of 2015, total retail sales and service revenues of Binh Duong province reached over VND66,600 billion, increasing 23% % compared to the same period of 2014. This increase is expected to be maintained until the end of the year, because provincial consumer price index (CPI) is low. In addition, many trade promotion activities will also be carried out, enabling commercial - services sector to the finish early than planned.
Low CPI
Along with national localities, Binh Duong market is having the most stabilizing period in recent years. In the first 7 months of 2015, provincial CPI rose only 1.12% compared to December 2014. Products of food, housing, building materials, fuel, construction ... are generally stable. According to authorities, CPI in the coming period will continue to be stabilized. . In August and September, products having slight price increase are educational products, because it is he beginning of a new school year.
Customers were buying goods at Binh Duong Co.opMart supermarket.
Price of almost more than 20,000 items sold at Binh Duong Co.opMart have not increased since the beginning of the year. Mr. Vo Huu Thach, Director of Binh Duong Co.opMart, said, price increase usually happened from late October to New Year holidays with an increase of 2-8%. Suppliers will give price quotes in advance to the supermarket. However, this year, price of essential goods, such as: gasoline, oil, gas, was stabilized, thus the general price level will also be stable. Besides, the supermarket has purchased goods for the next months based on to the current procurement needs and supplying capacity of the supermarket. Therefore, price of essential commodities, foods are forecast to be stable in the next months.
Strengthening trade promotions
Along with price advantages, many trade promotion activities happening in the province from the beginning of the year also contributed to the total retail sales of nearly VND11,000 billion, increasing 23% compared to the same period of 2014. Namely, five market days of Vietnamese goods in rural areas in the province; trade fairs; the fair of wood industry…, have helped to boost consumer’s purchasing power. Besides, activities of trading, connecting provincial businesses, consumers with other provinces across the nation have been carried out, especially for agricultural commodities – provincial specialty. Thereby, provincial localities have promote their own advantages, utilized their potentialities, expanded markets.
Provincial Department of Industry and Trade will also coordinate with other provinces, cities to connect with producers, traditional markets, small businesses… to exchange goods, for example, trading activity between An Giang companies and Binh Duong companies. According to the agreement, the two provinces unified goals, promote their own advantages, utilized their potentialities; firstly, exchanging information and experiences in product research and development, enhancing production and consumption..; then, facilitating connection between traditional trade villages of the two provinces for exchanging, visiting, and learning…
According to expert’s opinions, total retail sales and service revenues are indicators of the purchasing power of consumers. Therefore, an increase of 23% of the total retail sales in the province in the first 7 months implied that provincial economy was developing stably.
Reported by T.Huynh – Translated by Ngoc Huynh
