On the afternoon of July 31, 2025, the Department of Industry and Trade of Ho Chi Minh City (TP.HCM) revealed a comprehensive review of the city's traditional markets, spotlighting significant challenges and proposing strategic changes to revitalize these important community hubs.
At a press conference addressing the socio-economic situation of TP.HCM, officials disclosed that many traditional markets, especially those in the former Binh Duong and Ba Ria - Vung Tau areas, are underperforming or even abandoned. Among the most notable examples are Tan Phu Market and Phu Huu Market, both located in the area of the former District 9. Tan Phu Market, constructed in 2005 with an area of 1,815 square meters, and Phu Huu Market, built in 2004 spanning 9,628 square meters, were both investments of the former District 9 People's Committee. However, their locations far from residential zones and a dwindling number of traders have led to poor operational efficiency.
Phu Huu Market, in particular, has been a shadow of its former self since 2017, with only about seven to eight households conducting business during evening hours. This decline has resulted in both markets being slated for demolition during the 2025-2030 period, as announced by the former Thu Duc City People's Committee.
The Department of Industry and Trade has urged local authorities to conduct thorough reviews of traditional markets across the city, identifying those with empty stalls, closures, or sluggish business activity. The goal is to develop tailored solutions, including demolition, conversion of land use, or innovative business model adjustments, to better align market operations with current economic realities.
Traditional markets in TP.HCM largely date back many years and face multiple challenges. Many facilities have deteriorated due to age, and the management models have been slow to evolve. The demographic shift among traders, with many aging and lacking successors, compounds these difficulties. Moreover, traditional markets are increasingly squeezed by fierce competition from modern commerce formats such as supermarkets, convenience stores, shopping malls, and the booming e-commerce sector. Additionally, unregulated street vendors operating nearby create unfair competition, further undermining the viability of these markets.
To counter these challenges and enhance competitiveness, the Department has recommended several measures. Local People's Committees are encouraged to improve service quality within markets, increase promotional activities, organize sales campaigns, and actively promote cashless payment systems. Furthermore, embracing modern retail practices such as home delivery and online sales platforms is seen as crucial to attracting customers and adapting to changing consumer behaviors.
Ensuring regulatory compliance remains a priority. Market management units are tasked with proactively identifying and addressing violations, while educating traders to adhere to business regulations. Emphasis on food safety standards, transparent price listings, security measures, and fire prevention protocols is also stressed to maintain consumer trust and market reputation.
Looking towards the future, the Department of Industry and Trade has partnered with the University of Economics and Law under the National University of Ho Chi Minh City to develop a forward-thinking project titled "Development of the Market System in Ho Chi Minh City Adapting to Epidemics and Economic Digital Transformation." This project aims to conduct a comprehensive assessment of the current state of wholesale and traditional markets, proposing suitable operational and management models that will preserve their essential role as key distribution channels while enhancing their competitiveness.
The project will also consider the impact of recent epidemic outbreaks, which have altered consumer habits and business operations, as well as the accelerating digital transformation of the economy. By doing so, it hopes to modernize market operations, integrating them more effectively into the contemporary commercial landscape while safeguarding their cultural and economic significance.
Officials emphasized that after completing the study, TP.HCM will have a holistic understanding of its market system, enabling the implementation of tailored solutions and innovative market models. This strategy is expected to boost business efficiency, sustain the markets' role in meeting consumer demand, and allow traditional markets to coexist and thrive alongside modern retail formats.
In summary, the Department of Industry and Trade's efforts reflect a critical juncture for TP.HCM’s traditional markets. Facing structural challenges and fierce competition, these markets are undergoing a necessary transformation to remain relevant and vibrant in a rapidly changing economic environment. The coming years will be pivotal as demolition plans proceed for underperforming markets like Tan Phu and Phu Huu, and as new models and technologies are introduced to rejuvenate the sector.
The city’s approach balances respect for the historical and social value of traditional markets with pragmatic steps to ensure their sustainability. By fostering innovation, improving management, and embracing digital tools, TP.HCM aims to secure a future where traditional markets continue to serve their communities effectively while adapting to 21st-century commerce.
