Bright Spot in the “Picture” of Trade and Services

In 2024, the trade and service industry of the province has shown significant growth, with notable progress. The distribution network has expanded both in breadth and depth, and the quality of services has been enhanced. Additionally, the system of wholesale and retail stores has expanded extensively, reaching even rural areas, facilitating the trade of goods.

Currently, the province has 4 shopping centers, 16 supermarkets, 58 Winmart+ stores, and 197 markets, including 3 type I markets, 13 type II markets, and 181 type III markets operating stably. Moreover, a retail system has been built with over 20,000 grocery stores and nearly 270 petrol stations, catering to the consumer demand and goods exchange of the people.

The province has also made efforts to promote digital transformation, laying the foundation for the development of the digital economy. Almost all retail stores and supply chains have accelerated the application of e-commerce in goods circulation and distribution. 100% of supermarkets and shopping centers are equipped with cashless payment devices, and some central markets have implemented the 4.0 market model, supporting traders and customers in making money transfers, deposits, withdrawals, and cashless payments.

Thanks to the synchronized infrastructure and favorable mechanisms, the trade and service sector’s proportion in the province’s economic structure has been increasing, currently accounting for 40.4%. It is identified as a key sector in the province’s economic development strategy, contributing to job creation and improving people’s income.

With determination and efforts to exploit the available potential and advantages, the trade and service industry has added many bright spots to the province’s overall socio-economic picture. In 2024, the growth rate of the trade and service sector reached 6.0%, contributing 2.2 percentage points to the provincial GDP growth. Among the 14 sectors, 8 have grown higher than the average, including wholesale and retail and transport activities, which saw a growth rate of over 10%.

The total retail sales of goods and consumer services revenue reached over 57,500 billion VND, up 13.0%; transportation activities met the demand for goods transport, with revenue exceeding 7,600 billion VND, up 10.3% year-on-year. Exports continued to maintain strong growth, reaching an estimated 15.4 billion USD, up 39.6%; imports stood at 14.8 billion USD, up 75.8%. Trade connection and promotion activities, as well as supply and demand matching, were emphasized. Based on the list of products participating in the One Commune One Product (OCOP) program, the province continued to post information and images of OCOP products on the electronic trading platform giaothuong.net.vn. As of now, the platform has 333 booths and 1,013 products and services, an increase of 18 booths and 51 products and services compared to 2023.

Mr. Dang Viet Phuong, Deputy Director of the Department of Industry and Trade, stated that the growth rate of the trade and service sector in recent times has proven that the direction and solutions that the province has been implementing are correct. To promote the development of trade and services, the province will continue to implement policies and mechanisms to attract investors and businesses to develop trade and services, especially in sectors such as convenience services and entertainment, in line with current trends and demands. The focus will be on expanding and developing the commercial infrastructure, harmonizing traditional trade with modern trade, matching the characteristics and development levels of the market in each region. The province will also emphasize the renovation and upgrading of market systems in all areas, encouraging the development of markets that ensure food safety. At the same time, collaboration with functional forces will be strengthened to improve inspection and control efforts, combating smuggling, commercial fraud, counterfeit goods, substandard products, and goods with unclear origin or origin, thereby protecting consumer rights and the interests of supplying enterprises.

Ha Nhung