Prime Minister of Vietnam directs to continue promotion of domestic market development and consumer demand stimulation

Prime Minister of Vietnam directs to continue promotion of domestic market development and consumer demand stimulation (Image from the internet)

On November 26, 2024, the Prime Minister of the Government of Vietnam issued Official Telegram 121/CD-TTg regarding the continued strengthening of the domestic market development and consumer demand stimulation.

Prime Minister of Vietnam directs to continue promotion of domestic market development and consumer demand stimulation

In order to enhance the domestic market development and stimulate consumer demand in the remaining months of the year, appropriate solutions need to be implemented to increase total demand, stimulate domestic consumption, promote trade and investment, quickly address the aftermath of the third storm, stabilize the lives of the people, restore business and production activities, and accelerate the disbursement of public investment capital, the Prime Minister of the Government of Vietnam directs the Minister of Industry and Trade of Vietnam to:

- Continue directing the synchronized and effective implementation of supply-demand regulation solutions, stabilize the market and consumer encouragement policies to clear the domestic market, connect production with distribution and goods consumption; review and research to propose support policies for domestic enterprises to participate in the supply chain of domestic and global products; promote trade promotion activities, supply-demand connection to boost the consumption of domestically produced goods in traditional and modern distribution channels; actively support the provision of market information, legal advice for small and medium enterprises;

- Actively organize promotional programs on regional and national scales, cooperate with localities to strengthen activities connecting, distributing OCOP products, bringing goods to remote areas, industrial zones to stimulate domestic consumption;

- Intensify the implementation of programs and events supporting people and enterprises in the purchasing and consumption of domestically produced products on digital platforms and e-commerce; organize activities promoting regional linkage in e-commerce, cross-border e-commerce promotion activities with countries in the region and major import markets;

- Promote the application of information technology and digital transformation; continue reforming, simplifying, and speeding up the administrative procedure resolution; upgrade the level of online public service provision (if any);

- Strengthen state management on domestic trade, effectively implement measures to inspect and control the market; support enterprises in handling issues related to trade defense investigations, origin fraud, anti-smuggling, commercial fraud, and counterfeit goods;

- Continue to monitor, direct, and urge localities and enterprises to organize and implement Programs, Schemes on domestic market development approved by competent authorities; implement specific and practical solutions, activities to stimulate consumer demand and promote domestic trade market development;

- Research and develop strict control mechanisms for imported goods through e-commerce currently exerting pressure on domestically produced goods, affecting the consumption of local enterprises' products;

- Coordinate with the Ministry of Finance to propose solutions on the disbursement of public investment budget to implement tasks stimulating consumer demand and promoting the domestic market.

Furthermore, the Prime Minister instructs Ministers of various ministries, Heads of ministerial-level agencies, relevant agencies, and Chairpersons of Provincial People's Committees and centrally governed cities, as well as industry, trade associations and enterprises to be more determined and responsible, actively organize the vigorous and effective implementation of tasks and solutions assigned by the Government, the Prime Minister of the Government of Vietnam in Decisions, Directives, Prime Minister's directives on domestic market development; review and prioritize the implementation of solutions to remove difficulties in the disbursement of public investment capital, credit packages as well as policies to attract social resources to participate in implementing programs, tasks related to stimulating consumer demand.

More details can be found in Official Telegram 121/CD-TTg issued on November 26, 2024.

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