Yen Bai works to stimulate year-end consumption demand

Economy

Yen Bai works to stimulate year-end consumption demand

Tuesday, December 21, 2021

YBO - A series of measures are implemented in Yen Bai province to increase purchasing power and stimulate market demand amid negative impacts of the COVID-19 pandemic.

People shop at a supermarket in Yen Bai city.

The local Once Commune One Product (OCOP) programme serving trade promotions and connections as well as the ‘Vietnamese prioritise Vietnamese products’ campaign have warmed up the shopping atmosphere after a long quiet period due to the pandemic.

According to the provincial Department of Industry and Trade, in November, demand for all product groups rose. In the first 11 months of 2021, the total retail sale of goods exceeded 17.3 trillion VND, up 11 percent over the same period last year. It is estimated that the figure will surpass 18.87 trillion VND in 2021, up 9.9 percent year on year.

To stimulate domestic demand during the last month of 2021 and the Lunar New Year Festival, the department has guided local businesses to join supply – demand connection programmes to introduce their safe food products and specialties.

The department has also stepped up the implementation of the ‘Vietnamese prioritise Vietnamese products’ campaign to boost the circulation of goods and supply products with stable prices to residents, particularly in rural areas.

In order to encourage consumption, the department continues to focus on inspecting the ensuring of goods and stabilising the market and coordinating with the market management force to detect and strictly handle those involved in illegal production and business, speculation, and excessive price increase, among other activities.

Quang Thieu

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