Trade and service sector continues to grow

Overcoming difficulties due to market fluctuations and people's purchasing power being affected by the difficult economic situation, in the first 6 months of this year, the trade and service sector still increases by 3.06%, contributing 0.73 percentage points to the overall economic growth of the province.

Trading activities at Phu market, Khoai Chau town (Khoai Chau)

In recent times, the province has paid attention to leading, directing, and proposing a lot of tasks and solutions for trade and service activities to synchronously develop in both quantity and quality in a professional, civilized, and modern direction. Since the beginning of the year, the province has organized a number of activities to stimulate consumption and promote the local agricultural products such as the Giap Thin Spring Fair 2024, Hung Yen Lychee Fair 2024..., which attract over 30,000 visitors and shoppers. The Department of Industry and Trade has issued many documents requesting businesses operating in the province to ensure stable prices of goods to serve the people; strengthen monitoring and assessment of supply and demand for goods to reasonably structure the list of goods, identify key groups of goods to serve domestic consumption needs. In addition, the Department of Industry and Trade has effectively carried out such local trade promotion programs as: Participating in fairs and exhibitions in a number of localities across the country; participating in exhibitions and fairs to develop the domestic market; supporting businesses and rural industrial establishments to participate in fairs and exhibitions in a number of neighboring provinces and cities... with a total implementation cost of about 900 million VND. To support 46 production facilities, OCOP entities with over 332 thousand traceability stamps... Commercial centers, supermarkets, and specialized stores in the province have also proactively innovated management methods and sales methods in a modern direction, integrated a lot of activities so that people do not only stop at shopping but also have fun, entertain, and enjoy preferential policies, especially preferential policies on prices. Therefore, goods in the province are always diverse, people's purchasing power increases, concentrated in some groups of goods: Food, foodstuff, household appliances...

In the first 6 months of the year, the digital transformation process in trade and service activities has taken place strongly in all industries: Tourism; accommodation, food; retail of goods... Accordingly, customers can use goods and services through technology devices and the internet. Some leading units in digital transformation in the province's trade and service sector are: Vinmart+ supermarket system, Dien May Xanh supermarket, Mobile World, FPT Shop, Tokyo Life, Yody, Nem, Ivy, Canifa... By building and effectively maintaining applications and utilities on smartphones, businesses and business units regularly update prices, ordering methods, product details, promotions, discounts, and incentives for each customer... Thereby forming a habit for consumers to view products online and shop online for groups of goods and services. With the implementation of many solutions to boost the development of trade and service activities, in the first 6 months of the year, the total retail sales of goods and consumer service revenue in the province reaches over 51.7 trillion VND, attaining 54.4% of the yearly plan. Export turnover reaches 3,250 million USD, up nearly 16% over the same period last year.

In order for trade and service activities to continue to grow, to be a solid "bridge" between production and consumption, and to develop commensurate with potential and strengths, in the last 6 months of the year, the province will continue to attract investment in the trade and service sector; focus on supporting investors in legal procedures, compensation for site clearance, investment in connecting traffic infrastructure, electricity, water, etc. To encourage domestic and international investors to build various types of trade and service infrastructure, expand the scale of business capital with preferential policies such as: Tax, credit, premises, etc. The Department of Industry and Trade continues to issue documents directing enterprises, cooperatives, and business households operating in trade and service activities in the province to develop production and business plans; stockpile essential goods, arrange a suitable supply network to ensure supply and demand during the rainy and stormy season and holidays. In particular, the department has proposed many solutions to stabilize the commodity market; strengthen monitoring and assessment of supply and demand for goods, avoid shortages and sudden price increases at certain times. At the same time, support production establishments and business households to boost the application of information technology and management software in business activities to improve competitiveness, expand the market for goods and products consumption, towards a stable and sustainable market development...

Comrade Vu Quang Thang, Director of the Department of Industry and Trade affirmed: To achieve the target of total retail sales of goods and services at 95 trillion VND this year, in the coming time, the Department will bolster the trade promotion to expand the local market for goods consumption; strengthen market management, strictly and promptly handle acts of buying and selling counterfeit goods, poor quality goods, goods violating hygiene and food safety, trade fraud, contributing to ensuring healthy market development, stable supply and demand of goods, quality, protecting the legitimate rights of producers and consumers...