Trade and service development in the digital era

In the development strategy, digital transformation is one of the important keys for setting up smart production, trade - service, and adding value. Binh Duong focuses on developing e-commerce and international trade towards the goal of balanced economic development.

Opportunities offered by digitization

Assoc. Prof. Dr., economic expert Tran Dinh Thien, claimed that the Binh Duong Innovation Region project is expected to stimulate a creative innovation ecosystem and, more broadly, a sustainable creative innovation culture.  This is considered a springboard for Binh Duong to build an attractive environment for startups and technology companies, continue participating in large world economic organizations. Thereon, it will upgrade the current production, create new production tools, develop evenly all aspects of social life, and gradually increase the proportion of the digital economy.

Binh Duong has three times in a row been named in the Top 21 (Smart21), twice in the Top 7 Intelligent Communities in the world by the ICF. This achievement opens an opportunity for Binh Duong to cooperate and exchange experience with ICF's network of more than 180 intelligent cities around the world. In addition, this contributes to increasing confidence of investors and businesses, and helps Binh Duong make a breakthrough in attracting foreign investment in the new phase, creating a foundation for trade and service growth, high-tech production in the future.

Leaders of departments, branches, institutes, schools, and enterprises discuss with foreign partners at the "Voice from the market” Workshop held in Binh Duong.

Pham Ngoc Thuan, General Director of Becamex IDC, said: “We continue to work with the province to create a driving force for FDI attraction by upgrading regional transport infrastructure, logistics system, proactively planning industrial parks, high-tech ecosystem, training high-quality human resources, building social housing... Becamex IDC aims to successfully develop Binh Duong Innovation Region, scientific and technological industrial park, and World Trade Center Binh Duong New City (WTCBD)”.

As a door to attracting high-quality services into the province, WTCBD does a good job of assisting businesses in Binh Duong and across the country to connect with the world. Practical activities of WTCBD accompany enterprises in e-commerce and service development, thereby contributing to economic restructuring to bring more added value.

According to Huynh Dinh Thai Linh, Director of WTCBD, since 2019 WTC BD joined the Association of World Trade Centers, it has connected with a network of 330 shopping centers in nearly 100 countries and territories. As a result, WTCBD becomes a bridge between small and medium-sized enterprises and the global supply chain, and facilitate e-commerce through its international network. WTCBD is also chosen by many international partners to organize global conferences and seminars, support businesses with smart and sustainable commercial development solutions.

“Effective cooperation provides good opportunities for the organization of international events, conferences, fairs, and exhibitions associated with tourism, cultural exchange; for marketing, promoting and attracting potential resources from regional and international markets, contributing to building and elevating the local brand name in the coming time", Huynh Dinh Thai Linh emphasized.

According to Linh, the application of digital technology and forming of new distribution channels is becoming an option for manufacturers and businesses to reach global consumers, especially when shopping and consuming habits are changing from traditional shopping to online shopping. This is a great opportunity for Binh Duong products to catch up with market movements from global consumers.

To prepare resources

To take advantage of the industrial revolution 4.0 for economic development, Binh Duong is developing a comprehensive digital transformation strategy, in both public and private sectors. Digital transformation will help Binh Duong optimize operations in both public and private sectors, existing business models, increase productivity, and diminish labor intensiveness to attract business models in the digital space.

The business community also actively plans and builds up business strategies that are suitable, flexible, and adaptive to the rapid change of the business environment; proactively integrate, take advantage of free trade agreements to integrate into the global supply chain. Yeh Ming Yuh, General Director of Polytex Far Eastern Vietnam Company (Bau Bang Industrial Park), said: “Binh Duong has a good planning when the infrastructure is continuously built and improved, connects with other regions to facilitate the circulation of export and import goods of enterprises. "We appreciate the efforts, determination of Binh Duong to improve the investment and business environment. Due to the development orientation of Binh Duong, we decided to double the production scale of our factory in Bau Bang Industrial Park.”

Many localities have been gathering all resources to welcome investment flows into trade and service, raising development level in the new period. Nguyen Thanh Tam, Vice Chairman of Thuan An City People's Committee, said: “Thuan An has been preparing resources to attract investment in high-quality commerce and services. We are adjusting the planning, expecting to form high-quality financial, banking, entertainment zones... All are planned carefully to be less land-intensive, enhanced technology, create a sustainable development environment”.

At most conferences, Vo Van Minh, Chairman of the Provincial People's Committee, committed to always creating the best conditions for domestic and foreign enterprises to invest, conduct production and business activities smoothly. Provincial leaders hope that the world's leading FDI investors with strengths in capital and technology will help businesses in the province access, cooperate, transfer technology, and participate in the global value chain. All are for the goal of rapid and sustainable development.

Pham Ngoc Thuan, General Director of Becamex IDC: We continue to work with the province to create a driving force for FDI attraction by upgrading regional transport infrastructure, logistics system, proactively planning industrial parks, high-tech ecosystem, training high-quality human resources, building social housing... Becamex IDC aims to successfully build Binh Duong Innovation Region, scientific and technological industrial park, and World Trade Center Binh Duong New City (WTCBD).

Jean-Jacques Bouflet, Vice President of European Chamber of Commerce in Vietnam (EuroCham): Binh Duong is constantly improving its image as a safe and stable investment environment with a complete infrastructure system meeting the wishes of FDI investors. EuroCham members regularly approach, research, and will continue to expand and invest in Binh Duong for a long time.

Dr. Ngo Minh Duc, Vice Rector of Eastern International University: Based on the existing research and development platform, through the Horasis India Meeting 2022, we expect to cooperate with Indian and national partners in R&D fields to research business development solutions based on digital technology platforms and the 4.0 revolution.

Reported by Tieu My - Translated by Ngoc Huynh