Domestic Market: Strategic Pillar for Sustainable Growth

Amid heightened volatility in the global economy, as export opportunities are no longer as easily tapped as before, the domestic market is increasingly seen as a key growth driver. On the development of Vietnamese goods and the expansion of domestic consumption, our reporter interviewed Tran Huu Linh, Director General of the Agency for Domestic Market Surveillance and Development under the Ministry of Industry and Trade.

Many domestically produced goods are of good quality 

The “Vietnamese Goods Vitality” program has been held for the fourth time. How effective has it been in promoting the consumption of Vietnamese goods?

After four rounds of implementation, the program has selected around 20 outstanding products for promotional support, especially through new formats such as livestreaming. Beyond that, its broader value lies in providing an overall picture of Vietnamese goods today.

Vietnamese products are becoming more diverse in categories, from food and beverages to cosmetics. Packaging and design are receiving greater investment in a more modern and professional direction, while product quality has also improved significantly. This shows a positive shift by Vietnamese enterprises in the domestic market.

However, certain “structural” limitations remain. Most enterprises are small in scale, making it difficult to fulfill large orders or take part more deeply in modern distribution systems. If production expansion is not carried out in a coordinated way, it may even affect product quality.

At the same time, brand-building capacity remains limited. Many products are of good quality but lack marketing strategies and positioning, making them difficult to sell effectively. Access to modern distribution channels is also a major challenge, especially for small businesses.

It is also worth noting that although e-commerce has grown rapidly, operating costs, advertising expenses, and logistics continue to create difficulties for many enterprises. Even livestreaming, often seen as easy to implement, requires considerable investment to maintain effectiveness.

How effective are digital platforms, especially livestreaming, in driving sales?

Digital platforms are opening up a new consumption space. In practice, even low-value products such as agricultural goods can be sold online if they are organized effectively.

Platforms such as social media and e-commerce marketplaces, combined with livestreaming, have become important sales channels, especially for small enterprises that often face significant barriers when accessing traditional distribution networks.

However, this is not an easy path. Enterprises still face high costs and strong competitive pressure. For that reason, in the coming period we are studying the development of a dedicated digital platform to support the promotion and brand development of Vietnamese goods in a more systematic way.

More importantly, the support approach will shift from isolated activities to a comprehensive model along the value chain, from production, design, and product completion to distribution connections. In particular, a multi-channel distribution model that combines offline and online channels will be promoted to improve sales efficiency.

What solutions are needed to improve the “Vietnamese people prioritize using Vietnamese goods” campaign and develop the domestic market?

The domestic market currently contributes around 55 to 60% of GDP, so it serves not only as a support base but also as an important growth driver for the economy.

In the coming period, the Ministry of Industry and Trade will focus on improving commercial infrastructure while reviewing and adjusting domestic market development strategies to better align with new consumption trends.

Programs to stimulate consumer demand and promote the circulation of goods will be implemented in a coordinated manner. In particular, the campaign “Vietnamese people prioritize using Vietnamese goods” will continue to be renewed in both content and approach to expand its reach.

A key factor is strengthening consumer confidence. In practice, many domestically produced goods are of good quality, but it is necessary to ensure reasonable pricing and improve market access. Developing the domestic market is not only a short-term solution but has become a strategic pillar that contributes to strengthening the economy’s self-reliance and resilience.

Thank you very much!

By Le Hien, Vietnam Business Forum