The domestic market has not been exploited to its full extent.

The domestic market with more than 100 million people is an important driving force for growth, however, the exploitation of the domestic market potential is not commensurate with its scale.

Overview of the workshop. Photo: D.N

This is the sharing of Mr. Bui Quang Hung - Deputy Director of the Trade Promotion Agency, Ministry of Industry and Trade at the workshop with the theme: "Strengthening market linkages, stabilizing supply chains and improving competitiveness" organized by the Ministry of Industry and Trade on September 18.

The workshop aimed to assess the current status of market linkages and competitiveness, and propose solutions to strengthen coordination between state management agencies and enterprises in building an effective production and distribution ecosystem.

According to Mr. Bui Quang Hung, the world economy in recent years has been experiencing many profound fluctuations with uneven growth between regions, increasing trade protectionism, along with escalating geopolitical tensions and instability in some regions, trade policy adjustments, the emergence of new industries, climate change, etc., which have been strongly impacting the global supply chain.

Faced with the challenges posed by domestic and foreign markets, Mr. Hung said that for the international market, new requirements on sustainable development, carbon emission reduction, green transformation and trade digitalization are becoming the leading standards. Vietnamese enterprises wishing to maintain their position and expand their export market share must quickly adapt.

Meanwhile, the domestic market with more than 100 million people is an important driving force for growth. However, the connection between production, distribution and domestic consumption still has many shortcomings; the exploitation of the domestic market potential is not commensurate with the scale. In particular, the resilience of the domestic supply system to global fluctuations is still limited.

"In that context, strengthening market linkages is of key importance. Linkages help closely connect the production - distribution - consumption stages, creating a smooth flow of goods, reducing intermediate costs, and increasing added value for products," Mr. Hung emphasized.

Products on display at the conference. Photo: D.N

Mr. Bui Huy Hoang - Deputy Director of the Center for E-commerce and Digital Technology Development (Department of E-commerce and Digital Economy , Ministry of Industry and Trade) assessed that, along with traditional business methods, e-commerce or online business has been, is and will become an important method to promote the distribution of goods in the domestic market.

Therefore, according to Mr. Hoang, it is necessary to perfect e-commerce policies, promote the application of AI and digital technology to reduce the cost of goods distribution, and at the same time, businesses need to improve human resources to keep up with the e-commerce trend of the market...

At the workshop, speakers discussed and shared difficulties, proposed policies and practical solutions to improve the efficiency of supply-demand connection, develop the domestic market, and ensure stability and sustainability for the supply chain in the current context.

Source: https://hanoimoi.vn/thi-truong-noi-dia-chua-duoc-khai-thac-dung-quy-mo-716475.html