Trade - services continue positive growth momentum

In the first 8 months of 2024, Binh Duong province's total retail sales revenue of goods and services recorded significant growth, solidifying the sector's vital role in the local economic growth for the rest of the year. The figure was VND 224.469 trillion over the past 8 months, a 12.6% increase compared to the same period in 2023. To maintain this momentum, provincial People's Committee has directed departments, agencies and localities to implement demand-stimulating measures across distribution systems, supporting businesses and small traders.

Strong recovery

In the first 8 months of 2024, Binh Duong province's total retail sales revenue of goods and services was VND 224.469 trillion, marking a 12.6% growth compared to the same period in 2023. To sustain this growth, provincial People's Committee has instructed relevant agencies and localities to continue implementing measures to stimulate demand within distribution systems, supporting businesses and small traders.

Province-based commercial and service infrastructure system has developed strongly, effectively meeting the needs of consumers from urban to rural areas. In picture: Customers shopping at a convenience store in North Tan Uyen district’s Tan Thanh township

According to provincial Department of Industry and Trade (DoIT), since early 2024, they have effectively implemented market stabilization programs and organized connections between the province’s distributors and suppliers in other regions, ensuring a balanced supply and demand of essential goods while stabilizing the market. Besides long-term strategies such as building supply chains and supporting production, provincial DoIT has also assisted businesses in connecting the supply and demand of goods with other provinces and cities across the country. In the coming time, the trade-service sector is expected to remain a key driver of the province's economy. The sector’s several areas can maintain high growth thanks to consumer demand stimulation policies aimed at expanding the domestic market.

Vo Nhat Vu, Director of Go Binh Duong Supermarket in Thu Dau Mot city reported that in the first 8 months of 2024, the supermarket's sales increased by approximately 5% compared to the same period in 2023. He anticipates even higher sales growth in the last months of the year, due to increased consumer demand and promotional activities.

Currently, provincial People's Committee and relevant agencies are carrying out planning for the trade-service sector, ensuring proper and synchronized management, particularly in logistics and tourism services…

Customers visit and shop at a booth participating in the 2024 Binh Duong Goods Supply and Demand Connection Conference held in Ho Chi Minh city

Catching up with e-commerce trend

According to Phan Thi Khanh Duyen, Deputy Director of provincial Department of Industry and Trade, the province’s trade-service sector has been making significant efforts in digital transformation, laying the foundation for the development of a digital economy, promoting digital banking services, e-commerce and fostering the application of technology in production, business and consumption, thus driving green growth…

Commerce and services continue being a key driving force for the province's economic growth in 2024. In picture: Customers shopping at Big C Binh Duong Supermarket

Regarding e-commerce, provincial People's Committee has issued a plan to develop this field, aiming at implementing solutions that promote the widespread application of e-commerce among businesses and the community. This includes cross-border e-commerce transactions and support for export enterprises, helping expand consumption markets for major industrial products, agricultural products, food and OCOP products in the province. The plan also focuses on making specialized inspections and handling administrative violations in the e-commerce sector, monitoring e-commerce development trends as a basis for implementing policies and enforcing laws on e-commerce in the province.

Mrs. Duyen stated that provincial DoIT has been tasked by provincial People's Committee to support businesses in accessing e-commerce activities, selecting capable businesses to connect their products with both domestic and international e-commerce platforms, participating in the "Vietnamese Stall" program on e-commerce platforms, organizing training on e-commerce skills. Provincial DoIT has also been assigned to coordinate with reputable e-commerce platforms, namely Voso, Postmart, Sendo, Shopee, Lazada, Tiki, etc. to organize events, conferences and workshops to connect and support businesses, cooperatives and individuals in opening stalls on e-commerce platforms to expand consumption markets for agricultural, handicraft and OCOP products as well as consumer goods; collaborate with e-commerce giants like Amazon Global Selling, Google and Alibaba to organize e-commerce connectivity events combined with product exhibitions, creating favorable conditions for businesses to access international e-commerce platforms to support exports…

Nguyen Huu Tuan, Head of the Policy Division of the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade noted that Binh Duong province's e-commerce market has been expanding in recent years. The diversity in models, participants, operations, and supply chains of goods and services, supported by internet infrastructure and modern technology, has made e-commerce become a key pillar in the development of the digital economy. In the future, provincial DoIT  needs to continue promoting e-commerce applications and transactions, coordinating with localities to encourage businesses and production facilities to join platforms, implementing cashless payment solutions throughout the province.

Reported by Tieu My-Translated by Kim Tin