The ministry of industry and trade (MoIT) pegs the current value of Vietnam’s retail market at $142 billion, which is forecast to touch $350 billion in 2025—accounting for 59 per cent of the nation’s 2022 gross domestic product (GDP).
In 2022, the total revenue earned from retail sales of goods and services jumped to 21 per cent, which surpassed the target marked by the MoIT. The figure is equal to 82 per cent of the calculated level in normal conditions even as the sector is still dealing with several issues related to infrastructure, linkage in the supply chain, and logistics, MoIT deputy minister Do Thang Hai was quoted as saying by several local media reports.
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