The Ho Chi Minh City People's Committee has officially issued a plan to implement the "Vietnam Retail Market Development Strategy" through 2030, with a vision toward 2050, aiming to transform the Southern city into a premier shopping destination in Southeast Asia.
According to the plan, the city aims to build a comprehensive retail ecosystem integrated with e-commerce, urban logistics, product traceability, and sustainable consumption. Simultaneously, HCMC will strengthen the synergy between retail and tourism, culture, entertainment, and the night economy to expand consumption spaces and enhance the overall shopping experience for residents and visitors.
The city also focuses on boosting the competitiveness of local enterprises and developing a synchronized distribution system linked to exports, gradually branding HCMC as a regional shopping landmark.
By 2030, the city’s retail market is expected to evolve toward modernization, featuring diverse models that combine shopping, services, and entertainment. This development will be anchored by commercial streets, night markets, and a vibrant night economy.
The city projects an average annual growth of 12% to 12.5% in total retail sales of goods and consumer service revenue. This sector is intended to be a primary driver for the service-commerce industry, contributing to an annual GRDP growth goal of 10% to 11%.
E-commerce and the digital retail economy are identified as vital pillars. The city targets e-commerce to account for 20% of total retail sales by 2030, with the digital economy contributing 30% to 40% of the city's GRDP. Furthermore, at least 50% of small and medium-sized enterprises (SMEs) are expected to conduct business on digital platforms.
In the 2031–2050 period, the city intends to shift toward high-quality, sustainable, and "in-depth" retail development, commensurate with its status as a "special" urban economy. During this phase, retail growth is expected to maintain a steady 11% to 11.5% annually.
E-commerce will become the primary sales channel, representing 30% to 35% of total retail sales. Approximately 80% of retail and distribution firms will utilize Big Data, Artificial Intelligence (AI), and supply chain automation. These technological advancements are expected to significantly boost labor productivity and Total Factor Productivity (TFP).
HCMC is also prioritizing a digital payment ecosystem, aiming for 90% to 95% of all transactions to be cashless. 100% of modern distribution systems will be required to adopt digital payments to ensure market transparency.
Beyond infrastructure, the city aims to cultivate major local retail brands and promote the brand: “Ho Chi Minh City – The Shopping and Retail Destination of Southeast Asia.” This will be achieved through world-class shopping malls, retail festivals, and international trade events capable of attracting global interest. The city also seeks to attract international retailers with advanced management technologies to cement its status as a "top retail destination in ASEAN."
Finally, the city plans to expand its Commodity Exchange by diversifying products and applying digital technology, eventually connecting with regional markets to serve as a key tool for distribution and market regulation.
Google translate