Retail sales of goods and services to increase 20% by 2020

Retail sales of goods and services to increase 20% by 2020

​It was one of the objectives set out in the business development plan towards 2020 in Quang Ngai province just approved by the Chairman of the PPC.

According to the plan, by 2020, the province will upgrade 19 markets and newly build 99 markets and 22 supermarkets, 01 grade-III commercial center, 02 expo logistic centers; to upgrade 51 retail gasoline shops and construct 112 new gasoline stores; build 04 tankers on the river and invest 164 new LGP business stores.

Total land demand to develop trade infrastructure of the province2020 is over 1.2 million m2 with total investment capital of more than 2,700 billion VND, consisting of demand for network market (656,517 m2), trade infrastructure development (174,559 m2), petroleum and gasoline development (377,395 m2) and retail demand (4,068 m2).

The objective of plan aims to fast grow the trade field to ensure the interests of consumers. Specifically, striving GDP growth rate on the trade field in the period of 2011-2015 to increase 10.5%/ year and 14%/year in the period of 2016-2020; total retail sales of consumer goods and services to increase 19% / year in the period 2011-2015 and 21% / year in the period 2016-2020.

Export turnover in 2015 will reach USD 500 million and USD 945 million in 2020; the average growth rate to reach 13% / year in the period 2011-2015 and 13.8% / year in the 2016-2020 period.

Import turnover will reach USD 1,074 million in 2015 and over USD 1,300 million in 2020.

Dai Kiet

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