Ministry: Vietnam Purchasing Power to Jump 20 per cent as Tet Nearing
Vietnam's Ministry of Industry and Trade has forecast that domestic purchasing power will increase 10 per cent to 20 per cent on year during the Lunar New Year festivity.
The ministry's Market Regulation Team said five provinces including Hanoi, Ho Chi Minh City, Ha Giang, Binh Duong, and Dien Bien have reported their goods preparations for Tet.
Demand of Hanoi is predicted to double this year after expansion, the team said.
Lunar New Year often falls in Feb and domestic demand sharply jumps compared with other months in a year, analysts said.
Local businesses, which are torn between impacts of high inflation and the global financial turmoil, are looking forward to sales growth, state media said. (Capital Security)
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