Vietnam targets 11% retail growth with sustainability push

Prime Minister Pham Minh Chinh has approved a comprehensive strategy to transform Vietnam's retail market into a modern, sustainable sector by 2030, aligning with the country's ambitious digital transformation and environmental goals. 

Summaries 3 Keypoints:

1. Policy approval: Vietnam approved Decision 2326/QD-TTg to develop a modern, sustainable retail market through 2030 with a vision to 2050, aligning with e-commerce, digital, green, and sharing economy trends while strengthening links between production and consumption.​
2. Digital-first targets: By 2030, total retail sales are targeted to grow 11–11.5% annually, with e-commerce growing 15–20% annually to reach 15–20% of retail revenue, and 40–45% of SMEs participating on online platforms.​
3. Sustainability and formats: The strategy promotes eco-friendly supply chains and environmentally certified products, improves legal frameworks for digital platforms, and expands multi-channel retail combining online with supermarkets, convenience stores, and traditional markets.

Digital-First Growth Targets Drive Economic Vision

Vietnam has set ambitious benchmarks for retail expansion, targeting average annual growth of 11-11.5% in total retail sales through 2030. The strategy places particular emphasis on e-commerce development, aiming for 15-20% annual growth in online sales, which should represent 15-20% of total retail revenue by the decade's end.[1][2]

The strategy arrives as Vietnam's e-commerce sector demonstrates remarkable momentum. In the first half of 2025, major platforms including Shopee, TikTok Shop, and Lazada generated approximately $7.8 billion in sales, marking a 42% year-over-year increase. TikTok Shop led growth with a 69% surge in revenue, capturing 39% market share compared to 29% in the previous period.[3][4]

The government expects 40-45% of small and medium enterprises to join online platforms by 2030, reflecting the strategy's focus on digital inclusion. This aligns with broader economic projections, as Vietnam targets GDP growth of at least 10% for 2026, leveraging digital transformation as a key driver.[2][5][1]

Sustainability Standards Reshape Trade Framework

The retail strategy emphasizes environmentally certified products and sustainable supply chains, responding to global trade pressures requiring green compliance. Vietnamese exporters now face mandatory disclosure of environmental impacts across product lifecycles, driven by international policies like the European Union's Carbon Border Adjustment Mechanism and biodiversity requirements.[1][2][3]

According to recent analysis, Vietnam's total import-export value is expected to approach $800 billion by 2024, with exports reaching $380-390 billion. However, preparing goods that meet sustainability standards has become essential for economic survival as importing countries impose stricter environmental and social responsibility requirements.[3]

The strategy promotes multi-channel retail models combining e-commerce with traditional formats while establishing supply chain linkages between production and distribution, particularly for agricultural and food products. This addresses growing consumer demand, as surveys show 79% of online shoppers expect government regulations on green packaging, while 71% want businesses to disclose eco-friendly options.[4][1]

Reference sources:

[1](https://en.vietnamplus.vn/vietnam-adopts-strategy-to-build-modern-sustainable-retail-market-post330998.vnp)

[2](https://en.vietnamplus.vn/vietnam-pushes-green-solutions-for-e-commerce-post324781.vnp)

[3](https://tradexpo.arobid.com/en/news/article/promoting-green-exports--a-new-trend-in-global-trade)

[4](https://vietnamnews.vn/economy/1723839/consumers-favour-greener-e-commerce-in-viet-nam.html)

[1](https://en.vietnamplus.vn/vietnam-adopts-strategy-to-build-modern-sustainable-retail-market-post330998.vnp)

[2](https://www.vietnam.vn/en/thu-tuong-phe-duyet-chien-luoc-phat-trien-thi-truong-ban-le)

[3](https://en.vneconomy.vn/e-commerce-in-upward-trend-1250945.htm)

[4](https://fintechnews.sg/115965/vietnam/vietnams-e-commerce-market-rises-on-shoppertainment-surge-and-cross-border-trade/)

[5](https://www.reuters.com/world/asia-pacific/vietnam-targets-10-gdp-growth-2026-2025-10-20/)