Over 12,000 promotion programs of Hanoi's enterprises with an estimated total value of over VND25 trillion (US$1 billion) were offered at the Hanoi Grand Sale 2023, which ran until November, in response to the national concentrated promotion program, said Tran Thi Phuong Lan, Director of the Hanoi Department of Industry and Trade, at the opening ceremony of the Vietnam Grand Sale 2023 in Hanoi on December 4.

Launch of the Vietnam Grand Sale 2023. Photo: moit.gov.vn

She said that in response to the national concentrated promotion program initiated by the Ministry of Industry and Trade, Hanoi will launch a stimulus campaign covering food, consumer goods, fashion, textiles, electronics, telecommunications, banking, and real estate.

Hanoi's retail sales of consumer goods and services reached VND567.5 trillion (US$23.4 billion) in the first 10 months of 2023, up 28.8% year-on-year, she added.

Speaking at the event, Le Hoang Tai, deputy director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, said the program will be implemented through both traditional trade and e-commerce channels, combined with fairs, exhibitions and events.

Government agencies and citizens will inspect and monitor the promotional activities of enterprises to ensure transparency and compliance with legal regulations.

The Vietnam Grand Program 2023, which runs from December 4 to January 10, 2024, is expected to contribute to the overall increase in retail sales and service revenues.

According to the General Statistics Office, in the first 11 months of this year, total retail sales of goods and consumer service revenues reached VND5.55 trillion ($235 billion), up 9.6% year-on-year.