Retail stocks such as MWG, FRT and DGW have recently seen their prices pick up sharply on the bourse. Expectations of recovery In the first six months of 2023, the total retail sales of consumer goods and services were estimated at over VND3,016 trillion, up an impressive 11% compared to the same period last year, according to data from the Ministry of Industry and Trade. The revival of consumer demand in the domestic market is expected to continue in the second half of the year as macroeconomic policies have started to take effect. Notably, on July 1, the base salary for civil servants, public employees, and the armed forces were increased by 20% from VND1.49 million to VND1.8 million per month. The National Assembly approved a reduction in the value-added tax on certain groups of consumer goods from 10% to 8% on the same day. These measures are anticipated to stimulate demand in the economy, directly impacting the expected sales of retailers in the coming months. Furthermore, the decline in inflation and interest rates is good for the economy as a whole and the retail sector. Moreover, a projected recovery in exports in the fourth quarter is likely to boost […]
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