Trade and services (TMDV) play an important role in the national economy and promote and support other economic sectors. For Yen Bai ward - the political, economic, cultural and social center of the province, TMDV is developing rapidly and diversely, gradually affirming itself as a spearhead and strong sector of the urban economy.
Pillars of the urban economy
In 2025, the service group will account for 59% of the economic structure of Yen Bai ward. The total retail sales of goods and consumer service revenue in the area is estimated at 16,250 billion VND, 1.5 times higher than in 2020; the average growth rate of the trade and service sector in the period 2021 - 2025 is 9.16%/year. Of which, retail sales of goods will reach 10,190 billion VND. The above figures are the clearest evidence of the strong growth and development of this sector.
To achieve that development, the infrastructure of trade and services continues to be invested in a civilized and modern direction. In the ward, there are 730 commercial enterprises, 29 cooperatives and 2,867 trade and services households.
Many big names in the retail industry choose Yen Bai ward as their destination such as: Vincom Plaza, Winmart+ system, Dien may xanh, Thegioididong, Mediamart,FPT ... and the upcoming GO! Shopping Center Project of Central Retail Group.
The stable development of trade and service activities not only meets people's consumption needs and improves the quality of life, but is also an important factor in promoting social vitality, creating landscapes and organizing space for a modern city.
Mr. Le Anh Tuan - Director of Vincom Plaza Yen Bai Management Board said: “Vincom Plaza is a complex of commercial townhouses, entertainment, cuisine, shopping, welcoming more than 120,000 visitors each month. Over the past time, the local government has always created favorable conditions for businesses to develop. Thanks to that, revenue has grown steadily every year. Hopefully, the merger of the province will expand the development space, bringing many opportunities for our partners”.
Along with that, the development of the market network is very important because it is an important and inseparable part of the overall socio-economic infrastructure. Therefore, more than 80 billion VND has been invested by the locality to upgrade and reorganize the system of people's markets.
The implementation of the 4.0 market model - a cashless payment market has modernized traditional markets. In addition, service industries such as finance, banking, insurance, telecommunications, transportation, etc. have developed diversely with increasingly high service quality. In particular, e-commerce has developed strongly with many modern forms of supply, transaction, and payment, in line with the development trend of society.
Long-term and synchronized strategy
The important results achieved in the period of 2020 - 2025 are the premise for Yen Bai ward to orient the development of trade and services in a civilized and professional direction. The development of diverse types of trade and services will make Yen Bai ward become one of the trading centers of the province and a hub for distributing goods to neighboring areas.
According to forecasts, by 2030, the number of enterprises and individual establishments doing e-commerce business will increase sharply, the total retail sales of goods and consumer service revenue may reach more than 26,000 billion VND; of which, retail sales of goods will reach more than 16,000 billion VND. Therefore, Yen Bai ward has proposed many strategic solutions. That is, restructuring the trade sector towards prioritizing the strong development of high-tech science and technology sectors, such as information technology, telecommunications, digital services, e-commerce; investing, developing technology, connecting infrastructure, ensuring safety and convenience for consumers in the process of participating in e-commerce transactions. The locality will continue to invest in upgrading and perfecting the market system in the area to meet the standards of class 1 and class 2 markets; transforming the management model of Yen Bai market. In addition, the ward also aims to strongly develop, improve the quality, efficiency, and competitiveness of a number of potential and advantageous service sectors, such as healthcare, education and training, transportation, logistics, finance, health care, food and beverage, entertainment, etc.
Vice Chairman of Yen Bai Ward People's Committee Ngo Tuan Dung said: "To develop service types, the ward will create favorable conditions for investors; have a clear support mechanism for start-up activities; shorten the time to handle administrative procedures. In addition, the locality will launch a youth vocational training program to improve the quality of labor resources in the field of trade and services and encourage service businesses to apply e-commerce to reach more customers."
In the 2025 - 2030 term, Yen Bai ward will continue to restructure its economy according to the digital economy, green economy, and circular economy model, ensuring sustainable growth, shifting the economic structure towards urban areas, focusing on industry and trade and services. Therefore, specific solutions along with clear strategies will turn the goal of developing trade and services in the area into not just numbers but soon become a reality.
Source: https://baolaocai.vn/tap-trung-phat-trien-kinh-te-mui-nhon-post878659.html
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