High consumption index - opportunity to expand market

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>> Yen Bai businesses "accelerate" from the beginning of the year

>> Yen Bai: Exporting goods - need to make efforts to complete the target

>> Yen Bai enhances export position in the "three-horse carriage"

>> Yen Bai export value in January reached 35.5 million USD

In the first months of the year, industrial production activities in the province not only achieved impressive growth rates but also recorded positive signals from the consumption market. The consumption index of the processing and manufacturing industry increased sharply, leading to an increase of more than 8% compared to the same period last year. This reflects the recovering market demand, opening up opportunities for Yen Bai goods to access larger markets both domestically and for export.

Specifically, the consumption index of the entire processing and manufacturing industry in March 2025 increased by 46.84% compared to the previous month and increased by 4.61% compared to the same period. In the first quarter as a whole, the consumption index increased by 8.11% - a stable and expected increase in the context of the economy gradually recovering after a period of being affected by inflation and declining global consumer demand.

Many key industrial product groups of the province have seen a sharp increase in consumption. Notably, tea increased by 23.12%; various types of clothing increased by 38.61%; wood shavings and chips increased by 53.72%; veneer increased by 80.77%... compared to the same period. The above figures show that market demand is increasing again in many areas, especially processed food, wood, pharmaceuticals and garments, which are the spearheads of Yen Bai industry.

Increased product consumption not only helps businesses increase revenue, but also motivates them to expand production scale, increase investment in machinery, technology and recruit workers. Some businesses in the province have begun to increase capacity to meet orders.

Mr. Nguyen Duc Dung - Director of Yen Thanh Joint Stock Company, Yen Binh District said: "We have received stable orders from domestic and export partners. In the first quarter of this year, sales increased by more than 25% compared to the same period. The company has stable orders until the end of June this year."

Yen Bai industry is facing the opportunity to expand its market in the coming time, especially when free trade agreements are paving the way for Vietnamese goods to access international markets such as the EU, Korea, Japan, China... However, to take advantage of this opportunity, product quality, competitiveness and compliance with environmental technical standards are still barriers that need to be overcome.

Mr. Nguyen Dinh Chien - Deputy Director of Yen Bai Department of Industry and Trade emphasized: "Yen Bai needs to diversify export markets through FTAs, especially new generation FTAs. Along with that, stimulate domestic demand through measures to promote domestic consumption. On the business side, it is necessary to improve domestic competitiveness. On the other hand, the business community also needs to enhance resilience and diversify supply chains, reducing dependence on raw materials and intermediate goods concentrated in one market".

Yen Bai has many advantages in terms of raw materials and labor, but to expand the market, products must meet requirements on origin, food hygiene and safety, etc. In particular, building local product brands is also a key factor. Another important factor to expand the market is to strengthen the connection between enterprises - cooperatives - farmers - distributors, in order to create a complete value chain for local industrial products.

Currently, many products such as cassava starch, tea, medicinal herbs, processed wood, etc. are still mainly sold in raw or semi-processed form. Linking with deep processing units, e-commerce enterprises and large supermarket chains will help increase added value and stabilize output for producers.

Mr. Vu Van Hong - Director of Khe Nam Tea Cooperative, Hung Khanh Commune, Tran Yen District shared: "If there is a long-term purchasing unit, the Cooperative will be more secure to invest in modern machinery and produce according to international standards".

With positive growth in the first quarter, Yen Bai province's industrial production sectors are having good "momentum" to accelerate in the second quarter and the whole year of 2025. Along with developing new products, the province needs to promote trade, connect businesses with domestic and foreign markets, and support small businesses to participate in large supply chains.

"The Department of Industry and Trade will organize many activities to connect supply and demand, exhibition fairs of typical rural industrial products and support e-commerce to help businesses expand their markets more effectively," added Nguyen Dinh Chien, Deputy Director of Yen Bai Department of Industry and Trade.

The high consumption index is a positive signal, however, to develop sustainably and expand the market, we cannot only rely on sales figures, but need to focus on product quality, brand building and value chain development. With the support of the government, businesses and people, we believe that Yen Bai goods will not only dominate the market in the province but also reach out to other regions in the country and internationally.

Hong Duyen

Source: https://baoyenbai.com.vn/12/350165/Chi-so-tieu-thu-tang-cao---co-hoi-mo-rong-thi-truong.aspx