Bright spot of trade and service development in Pho Yen

Hong Tien Ward (Pho Yen City) currently has over 600 grocery stores, restaurants, eateries, fashion businesses, construction materials... operating effectively.

Hong Tien Ward is adjacent to Yen Binh Industrial Park and Diem Thuy Industrial Park, attracting a large number of laborers and workers to work and live.

Along with that, the ward has a convenient transportation system, with the Hanoi - Thai Nguyen Expressway, National Highway 3 and the Capital Region Ring Road 5 passing through, helping to connect with major economic centers such as Hanoi, Bac Ninh and Bac Giang. These are favorable conditions to promote local socio-economic development, especially in the trade and service sector.

On this basis, the People's Committee of Hong Tien Ward has proactively reviewed land funds, prioritized the development of modern economic and social infrastructure; promoted administrative procedure reform, applied many preferential policies on taxes, electricity, water... to attract investors and encourage households to participate in business activities and economic restructuring.

In the 2021-2024 period, the locality has invested in upgrading and expanding over 40km of roads of all kinds; creating conditions for more than 400 households to borrow preferential loans to develop trade and services, with an amount of over 20 billion VND from the Social Policy Bank.

The Ward People's Committee also regularly updates information on the investment environment, promptly removes difficulties and obstacles arising in the production and business process, creating favorable conditions for the business community to develop sustainably.

With the advantage of being close to large industrial parks, the demand for housing and services in the area is increasing day by day. Seizing this opportunity, many households in the ward have switched to providing services for workers and laborers. In particular, the lodging service has been promoted with over 1,000 households operating, with over 10,000 rooms, concentrated in the residential groups: Hang, Yen Me, Gieng, Lien Minh, Cong Thuong.

As one of the households with a fairly large boarding house in Hang residential group, Mr. Nguyen Tai Mung said: Recently, the demand for labor recruitment at companies and factories in industrial parks has increased, so more than 200 boarding rooms of my family have been basically filled. Not only do I run a boarding house, I also provide services such as: drinking water, laundry, gas supply...

Hong Tien Ward (Pho Yen City) currently has over 1,000 households providing lodging services, with more than 10,000 rooms for rent.

Along with the lodging service business, Hong Tien ward residents actively develop commercial and service businesses along traffic routes and densely populated residential areas. The whole ward currently has over 600 food, grocery, fashion, construction materials, agricultural materials, mechanical services... operating effectively (an increase of more than 400 establishments compared to 2020).

Planning, arranging and creating favorable conditions for business households and enterprises to invest and expand their activities not only meets the living needs of the people, but also creates a driving force to promote trade and attract customers from neighboring areas.

Mr. Nguyen Van Chinh, acting Chairman of the People's Committee of Hong Tien Ward, informed: With its prime location, the ward has become an attractive destination, attracting investors to build residential areas and urban areas. Thereby promoting the development of trade - services, housing and public utilities, contributing to making the urban appearance of the ward more and more spacious, improving the quality of life of the people.

The economic structure of the ward has shifted strongly, with 95% being industry, trade - services, agriculture only 5%. In 2024 alone, the value of trade - services in the whole ward will reach over 100 billion VND, budget revenue will reach over 17 billion VND, average income per capita will reach over 100 million VND/person/year; the poverty rate will decrease to 0.59%.

In the coming time, Hong Tien ward will continue to mobilize investment capital to build markets, supermarkets, and commercial areas to attract customers and investors. At the same time, it will promote administrative procedure reform, have preferential tax policies, and loans to create favorable conditions for small businesses and individual business households...

Source: https://baothainguyen.vn/kinh-te/202505/diem-sang-phat-trien-thuong-mai-dich-vu-o-pho-yen-4af18ad/