Representatives of relevant agencies press the button to kick off the Vietnam Grand Sale 2024 programme. (Photo: VNA)

Coordinated by the Vietnam Trade Promotion Agency (VIETRADE), the programme involves relevant agencies, provincial and municipal Departments of Industry and Trade, associations and businesses.

Deputy Minister of Industry and Trade, Nguyen Sinh Nhat Tan said that the programme not only aims to enhance trade and build the Vietnamese brand, it also wants to stimulate consumer spending, diversify shopping and drive business production and contribute to overall economic recovery and development.

According to Deputy Director of VIETRADE Le Hoang Tai, the programme establishes a 'special season' where businesses across all industries can independently design and implement their own promotional campaigns. The maximum discount value for goods and services has been increased to 100%, compared to the previous limit of 50%. Enterprises do not need to undergo any selection or approval process from state authorities to participate.

Over four years of implementation, the programme has achieved positive results, garnering strong interest and support from companies and consumers. In 2023, nearly 75,000 promotional activities were conducted, contributing to total retail sales and consumer service revenue in December 2023 of approximately 565.8 trillion VND, up 2.6% from the previous month and 9.3% year-on-year.

A representative from the Hanoi Department of Industry and Trade noted that the city had implemented various measures to help business recovery, providing favourable conditions for businesses to grow, stimulating consumption, facilitating trade connections and bringing Vietnamese goods closer to consumers.

Hanoi continues also to run its special city-wide promotional programme 2024, which supports the Grand Sale. The programme, held in May, July, and November, offers discounts of up to 100% and is expected to act as a significant catalyst for consumer spending./.