Survey results showed that despite the impressive economic growth, most businesses said that they have faced numerous difficulties. As much as 53.8 percent of the enterprises said they have been challenged by low domestic market demand. Some 30.5 percent asked the government to find solutions for maintaining the supply of raw materials and production inputs, while 35.4 percent emphasized the need to stabilize the prices of input factors, including raw materials and fuel." Dr. Nguyen Quoc Viet, deputy director of the Institute of Economic and Policy Research at the Vietnam National University-Hanoi, identified two factors directly impacting the consumption of goods by domestic enterprises. However, many experts advised that the VAT reduction policy should be extended until the end of 2025 to effectively stimulate demand and promote sales.

Source: Tuoitre News July 01, 2024 16:17 UTC