Smart city building breakthrough in new period - Part 3

Part 3: To develop high-quality commerce and services

Along with the process of building a smart city, Binh Duong Innovation Region will focus on increasing the proportion of trade - services with high levels of knowledge and added values, accelerate effective transformation of provincial economic structure.

To build an ecosystem of services

Due to the determination of increasing the proportion of trade and services as the foundation for rapid and sustainable development, in 2021-2025, period, the province strives to restructure service industry towards improving competitiveness, gather resources to develop a number of potential industries with high levels of knowledge and technology, such as finance, banking, logistics and transportation, information and communication technology, science and technology... All are to create a reasonable, stable and long-term economic leverage to promote the allocation and use of social resources, and build a service ecosystem to create a breakthrough in development.

Mai Hung Dung, Member of Provincial Party Standing Committee, Permanent Vice Chairman of Provincial People's Committee: “With the orientation of sustainable development, Binh Duong not only gives priority to attracting high-tech and advanced production, but also focuses on economic restructuring towards the growth of high-quality trade and service. The rising proportion of services will impact and create motivation for industrial development". Provincial leadership has mobilized resources for rational investment in core technical infrastructure projects, meeting the needs of investors for industrial development and high quality services in new areas.

Binh Duong promotes the development of logictics by connection. In photo:  Goods transportation at Tan Cang Song Than ICD.

Binh Duong currently has an abundance of lands to develop smart trade and services, but it is necessary to create new breakthroughs. According to Dr. Tran Du Lich, Binh Duong needs to boost investment in infrastructure, attract high-quality trade - services to become a civilized and modern city, a high-quality service area for the whole region. To realize the above goal, it is essential to focus on the urban supplementary master plan towards the direction of modernization and convenience. Besides, Binh Duong also needs to improve the quality of human resources, add more high-end service programs, improve supply chains, logistics, infrastructure, and diversify transportation. In particular, Binh Duong prioritizes resources to accelerate the connection of avenues, arterial roads, seaports, international airports etc. thereby connecting Southern key economic region with each other.

Nguyen Van Hung, Chairman of Becamex IDC Corporation, said that in the development planning, Binh Duong aimed to create new added value, focus on training to improve the quality of human resources, supplement the high-class service programs, boost supply chain, logistics, infrastructure, and diversify transport development. In the short term, to accelerate the connection of belt roads, arterial roads, seaports and international airports. To meet the increasing demand of investors, Binh Duong has gradually shifted to smart logistics, including the combined components of road, waterway and rail transport; step up the construction of river ports, warehouses, logistics centers, information technology application, and at the same time implement the motto of bringing ports to businesses.

To bind industry - urban - service together

In the new phase, the establishment and development of the World Trade Center in Binh Duong New City (WTC BDNC) is expected to create connections and help local companies develop international trade, and help Binh Duong become a dynamic area with diversified professional services. Mr. Nguyen said, this would be a complex including international fairs and conference centers, hotels, shopping malls, office area, Metro stations connected to Metro Line 1 of Ho Chi Minh City. WTC BDNC, with the role of supporting international trade and service activities in Binh Duong and surrounding areas, will synthesize domestic and foreign resources.

Senior Lieutenant Colonel Nguyen Thanh Son, Chairman of Directors Board of Tan Cang Song Than ICD Joint Stock Company, said that the development of logistic services also contributed significantly to foster the economic growth of the province, especially in domestic goods circulation and import export. At present, the province has many logistic centers capable of providing 3PL, 4PL services; and strives that until 2025 a number of large centers would reach above 5PL level (E-logistics - Logistics on e-commerce platform). Colonel Nguyen Thanh Son affirmed that the development space of Binh Duong logistics was huge. The market continues to grow due to the expansion of industrial activities and e-commerce. In addition, regional infrastructure projects as well as the Government's investment plan to develop logistic infrastructure to be commensurate with regional economic growth, this will be a favorable condition for the growth of logistics.

- In the new stage, the province will focus on developing high-quality service industries to meet requirements of industrial and urban development in the direction of civilization and modernization. In which, the economic structure would have the proportion of industry and services of over 90%. Index of industrial production (IIP) would increase by over 8.7% / year. Total retail sales of consumer goods and services to reach 14 - 15% / year. Gross regional domestic product (GRDP) to reach 155.7 million VND in 2020.

- The province continues to call on investment in fields of trade and services; develop more types of services - entertainment such as supermarkets, convenience stores, sports areas etc. In addition, strengthening commercial infrastructure development, continuing to implement solutions to develop high-quality services, logistic services, and e-commerce is one of key tasks in 2021-2025. The province has been actively solving difficulties and problems so that large investment projects in trade and services can be implemented on schedule; enhances trade promotion activities in order to effectively make commerce - services be a key local economic sector, creating a good foundation for attracting investment in the new phase.

 Reported by Tieu My - Translated by Ngoc Huynh