On December 2nd, the Ministry of Industry and Trade launched the “National Concentrated Promotion Program 2024 – Vietnam Grand Sale 2024.”
The event will take place from December 2nd to 31st, 2024, nationwide, organized by the Trade Promotion Agency in coordination with relevant units of the Ministry of Industry and Trade, provincial/municipal Departments of Industry and Trade, associations, industries, and related businesses and organizations.
According to the organizers, all enterprises are entitled to join the program by proactively conducting various attractive promotional activities for customers and consumers. They can also decide to apply a maximum promotional limit of up to 100%.
Enterprises are required to carry out legal, honest, open, and transparent promotional activities while ensuring the legitimate rights and interests of consumers and maintaining the quality of goods and services as per current regulations.
According to Clause 4 and Point b Clause 5, Article 6 of Decree No. 81/2018/ND-CP, traders are allowed to implement promotions of up to 100% from December 2, 2024, to January 31, 2025.
Mr. Le Hoang Tai, Deputy Director of the Trade Promotion Department, Ministry of Industry and Trade, said that after four years of implementing the National Concentrated Promotion Program, the Ministry has proactively reviewed and submitted to the Government to issue Decree No. 128/2024/ND-CP amending and supplementing a number of articles of Decree No. 81/2018/ND-CP dated May 22, 2018, detailing the Commercial Law on trade promotion activities (The decree takes effect from December 1, 2024).
The new decree has reduced and simplified all 10 administrative procedures related to promotions and trade fairs, including 5 out of 7 forms of promotion that do not require administrative procedures for notification of promotion implementation (for example, activities such as price reduction and gift-giving will not require administrative procedures).
“It is expected that hundreds of thousands of administrative procedures for promotions will be abolished annually, helping to reduce more than 90% of compliance costs for traders and reducing 90% of submissions of administrative procedures for promotions,” said Mr. Tai.
Speaking at the launching ceremony, Mr. Nguyen Sinh Nhat Tan, Deputy Minister of Industry and Trade, said that trade, services, and tourism in Vietnam have been recovering positively. The total retail sales of goods and services in October were estimated at VND 545.7 trillion, up 7.1% over the same period last year.
For the first ten months of 2024, the total retail sales of goods and services were estimated at VND 5,246.2 trillion, up 8.5% over the same period last year.
In October, the country had 14,200 newly established enterprises, an increase of 26.5% compared to the previous month. The total import and export turnover was estimated at USD 69.19 billion, up 5.1% compared to the previous month and up 11.8% over the same period.
However, the world situation continues to evolve complexly, with military conflicts escalating in some regions and a slow and uneven global economic recovery across nations and regions.
Domestically, the macro-economy remains stable, inflation is under control, growth is promoted, and the major balances of the economy are ensured. However, there are still many difficulties and challenges, especially the severe damage caused by natural disasters and floods in many localities.
In this context, the Ministry of Industry and Trade has issued Decision No. 2245/QD-BCT dated August 21, 2024, on organizing the “National Concentrated Promotion Program 2024.”
The program aims to enhance trade promotion activities associated with actively building Vietnamese brands, synchronously and vigorously implementing solutions to develop the domestic market, stimulate consumption, diversify shopping forms, and promote production, business, and circulation activities to contribute to the country’s economic recovery and development.
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