Trade-service sector contributes to Binh Duong’s prosperity

Along with the whole country, after the success of the August Revolution, especially the Southern Vietnam Liberation and National Reunification Day, the Party, government and people of Binh Duong province have tried to surmount difficulties, building up a locality with the country’s most flexible economic growth. Together with accomplishments in terms of industrial development, the province’s trade-service sector has also gained impressive results.

Trade-service sector’s role getting bigger

After 41 years of southern liberation, national reunification, Binh Duong has made efforts towards industrialization with robust growth, contributing to promoting the local trade-service sector. The sector has so far reached flexible development with high growth speed in each year.

 Customers at Big C supermarket in TDM city

Representative of Thuan An town’s People’s Committee said that the town’s trade-service activities, especially fire arts wood villages, have always received favorable conditions for development. Regarding its retail system, the whole town now has a total of 3 supermarkets, 7 plazas and 25 markets with stable operation. There are also more than 23,850 individual businesses households. In 2015 alone, the town’s total retail sales of commodities and services achieved VND28.9billion, up 22% compared to last year’s same period.

With effective orientations and solutions, TDM city, Di An and Ben Cat towns…obtained rapid development steps in trade and service activities, contributing to promoting the sector of the province.

In the period of 2011 and 2015, the province’s task of mobilizing resources to develop trade-service infrastructure was implemented as oriented, contributing to well serving the local process of urban development towards civilization, modernity, environmental friendliness and improving the quality of locals’ life.

Currently, the whole province is home to 105 markets, 11 supermarkets, 5 plazas invested by prestigious businesses at home and abroad together with nearly 40,000 trading facilities in operation. The province’s total retail sales of commodities and services between 2011 and 2015 reached the annual growth of 25%. Noticeably, the sector made great contributions to the local annual GDP growth. The sector also took advantage of domestic and foreign capital to develop, especially expand services, creating hi-quality products.

Sustainable development

Ho Quoc Nguyen, Director of Public Relations under Big C supermarket chain affirmed that Binh Duong is now a great consumption market because of having population growth and a large number of residents in the working age group with strong spending level and increasing income. Besides, locals’ habit of consumption is changed towards modernity. The province’s well-built infrastructure has also contributed to promoting  goods exchange…

Meanwhile, Vu The Tuyen, CEO of Lotte Mart Binh Duong said that its own features, Lotte Mart Binh Duong under South Korea’s Lotte retail group is very brave in getting access to markets with young population and fast socio-economic growth like Binh Duong. With hi-quality, diversified products plus stable service, Lotte Mart is self-confident to expand shopping opportunities for customers in Binh Duong.

Currently, Aeon Mall Binh Duong Canary in Thuan An town works very effectively. The shopping center welcomed 4 million visitors in first months after being put into operation. Noticeably, its purchasing power in 2015 gained a growth of 120% compared to the set target.

Possibly speaking, more and more economic sectors have invested in markets, supermarkets and plazas in the province. There is also solid investment in infrastructure for the province’s trade-service sector plus diversification in terms of products for customers via retail networks. All have contributed to stabilizing goods prices at locals’ demand for shopping. 

Towards sustainable development, according to Ho Van Binh, Deputy Director of provincial Department of Industry and Trade, the sector will absorb the participation of economic sectors; diversify modern trading forms; attach special importance to developing trade-service infrastructure in Binh Duong new city; build modern plazas in North Ben Cat, North Tan Uyen in association with new urban development; foster supermarkets for industrial parks; further upgrade rural markets…

With achievements done and development orientations in the coming time, the province’s trade-service sector has made the local soci-economic picture get more thriving. Many modern plazas and supermarkets have loomed large across the province together with the development of trade-service forms, contributing to wining locals’ faith on the local success in the renewal period.  

According to Tran Thanh Liem, Vice-Chairman of provincial People’s Committee, the province is promoting urban, trade and service development. Provincial leaders also always create advantageous conditions for businesses to make investment in the province.

Reported by Truc Huynh-Translated by K.T