HCMC consumers spend more during Tet than last year

By Vien Thong February 5, 2025 | 08:16 pm PT

People in HCMC spent more on consumer goods and services in January 2025 during the year’s biggest festival, Tet (Lunar New Year), than a year earlier.

Total retail sales, including accommodation, food, transportation, and services, rose by 7.5% to VND108 trillion (US$4.29 billion), according to the HCMC Statistics Office.

Among smaller categories, spending on food and household appliances went up by 5.7% and 11.1%, respectively.

But spending on vehicles and jewelry fell by 11.7% and 1%.

In the first 20 days of 2025 the city issued licenses for setting up over 1,800 new businesses with registered capital of nearly VND10.4 trillion, a year-on-year decrease of 45.4% and 73.4%.

Consumers shop in a supermarket in HCMC in January 2025. Photo by VnExpress/ Quynh Tran

The Statistics Office said the business environment had not shown positive changes, with the number of active businesses decreasing by 7.5% and closures increasing by 14.6%.

Public spending fell by 6.7% to VND1.6 trillion.

This year the city targets spending of at least 95% of the VND84 trillion allocated by the government.