Yen Bai: Trade - resilience from internal strength

>> Yen Bai city develops trade and services in a civilized and modern direction

>> Prospects for growth of trade and services in Yen Bai

Entering 2025, despite facing many challenges from the world market, commercial activities in the province still show remarkable "rebound". Total retail sales of goods and consumer services in the first 4 months of the year are estimated at VND 11,256 billion, up 20.24% over the same period last year. This impressive figure not only far exceeds the proposed growth scenarios (reaching 105.2% compared to the 8.2% scenario and 98.3% compared to the 10.5% scenario) but also reflects a strong recovery in purchasing power. People are spending more, creating an important driving force for the local economy .

Ms. Nguyen Thi Sam, owner of a business on Yen Ninh Street, Yen Bai City, shared: "In the first few months of this year, the number of customers coming to my store increased by about 10 - 15% compared to last year. What's more gratifying is that people not only buy essentials like fish sauce and salt, but they are willing to spend more on candy, soft drinks, or even household items that are not too urgent. In general, the shopping atmosphere is more exciting, we as sellers are very excited!"

Along with the domestic market, the export sector also achieved positive results. The export turnover of goods in the first 4 months of the year is estimated at 160.5 million USD, up 25.1% over the same period. This is a clear demonstration of the tireless efforts and flexible adaptability of enterprises in searching for and conquering international markets.

On the other hand, import turnover reached 65.5 million USD, up 10%, mainly raw materials for key manufacturing industries such as textiles and wood processing. This shows that the province's industrial production is operating stably, creating a solid foundation for both consumption and export.

According to the record, the main fundamental factor is the stability and development of industrial production. With the production value in 4 months reaching 6,340 billion VND (up 13.01%), key products such as cassava starch (up 76.87%), tea (up 53.3%), plywood (up 36.81%) and electricity production (up 18.39%) have ensured abundant and quality supply.

Departments, sectors and localities need to focus on continuing to support businesses to improve their capacity; innovate and professionalize trade promotion activities; improve logistics infrastructure; strengthen market management; and promote substantive administrative reforms.

In addition, the Department of Industry and Trade has actively supported businesses to bring OCOP products and local specialties to e-commerce platforms, while expanding direct sales points in localities, especially promoting digital transformation, maintaining the effectiveness of the province's e-commerce platform and some platforms such as: Shopee, Sendo, Lazada...

In addition, it is impossible not to mention the proactiveness of the business community. Many units are actively seeking new contracts, boldly exploiting the advantages of Free Trade Agreements (FTAs) to diversify markets, reducing dependence on traditional markets.

Although the trade picture has many bright colors, the "headwinds" from the global economy, with unpredictable fluctuations, inflation and the rise of non-tariff trade barriers are still a big unknown, with the potential to directly impact export activities. This context requires the business community to be more proactive and flexible in diversifying markets and fully exploiting the advantages of FTAs. At the same time, it requires the accompaniment, information support and timely guidance from management agencies.

In addition, right at home, ensuring supply-demand balance and market stabilization, especially for essential goods, remains a regular task. On the other hand, protecting consumer rights and a healthy business environment requires more drastic and persistent involvement from functional forces, especially market management in the fight against counterfeit goods, fake goods, and trade fraud.

With the results achieved, along with the consensus of the government and businesses, the trade and service sector in the province has every reason to believe in another successful year.

The "rebound" from internal strength has been activated and efforts to reach out to the international market are bearing "sweet fruit". There is still much work to be done on the road ahead, but with the right direction and high determination, the trade sector promises to continue to be an important driving force, contributing to the overall development of the province.

Van Thong

Source: https://baoyenbai.com.vn/12/350927/Yen-Bai-Thuong-mai---suc-bat-tu-noi-luc.aspx