HANOI, Oct. 23 (Xinhua) -- Vietnam's total retail sales of goods and consumer service revenue are projected to grow by an average of 11 to 11.5 percent per year by 2030, local daily Dau Tu reported Thursday.

The target is part of the country's retail market development strategy through 2030, with a vision toward 2050.

The strategy aims to boost domestic purchasing power while stimulating demand for Vietnamese products in international markets, according to the report.

By 2030, e-commerce sales are expected to expand by 15 to 20 percent annually, accounting for 15 to 20 percent of the nation's total retail sales of goods and consumer service revenue.

The plan also seeks to have around 40 to 45 percent of small- and medium-sized enterprises participating in e-commerce platforms.

According to Vietnam's National Statistics Office, the country's total retail sales of goods and consumer services were estimated at nearly 5.18 quadrillion Vietnamese dong (about 196 billion U.S. dollars) in the first nine months of 2025, up 9.5 percent year on year.