Part 1: Right direction
Since being re-established, Binh Duong has constantly developed and become one of the country’s top localities in industrial and services development. In association with the integration trend, the province has attached special importance to promoting trade-services and they are seen as a strong point for the local economic development in the new context.
Great contributions from trade-services
Under the province’s development orientations, Di An, Thuan An Ben Cat and Tan Uyen towns have played into full play their advantages in order to become entrepots and act as a bridge between production and consumption. Thuan An town is a typical example for this. The locality is not only famous for fine art wooden, pottery items…, but also known as a locality with fast development in terms of trade-services.
Customers at TDM city-based Big C supermarket
Truong Cong Thach, Deputy Head of Thuan An town’s Division of Economics said that the town was created favorable conditions for trade-services development over the past five years. The whole town is now home to 541 facilities specialized in producing and trading wooden products and 26,449 ones in trade-services.
Along with 24 markets and 6 trade centers, Thuan An town has formed up a perfect infrastructure system for trade-services, well meeting shopping demand of people in and out of the locality. This has helped ensure stability for market supply and demand, contributing to promoting the local trade-services. All have helped the locality create an attractive and animated trade-services market, absorbing thousands of buyers and sellers daily.
With proper development orientations, trade-services have become the province’s second biggest economic sector and now play an important role in the local economic development.
The province has also created favorable conditions for credit organizations and banks to work effectively. The whole province now has a total of 11 commercial bank branches, 3 joint venture bank branches, 4 wholly foreign-owned bank branches, tens of transaction offices, credit funds…Especially, absorbing many economic sectors to make investment in trade-services has contributed to promoting to the local production, business and consumption.
Potentials
Noticeably, Binh Duong’s trade-services have constantly developed both in quantity and quality in recent years. There has been a rapid increase in quantity of outlets, supermarkets, trade centers…across the province.
The province has so far developed 95 markets, 11 supermarkets and 6 trade centers invested by prestigious groups at home and abroad, namely Co.opmart, Vinatex, Big C, Lotte Mart, Aeon Mart…In 2010 and 2013, the province’s total retail sales revenue was estimated at approximately VND100bln a year.
According to retail groups, Binh Duong is one of the country’s retail markets full of potentials. With a total population of more than 1.7 million people, purchasing power in the province is very great. There is also a change in habit of consumption of the local people. They have gradually changed to buying goods at supermarkets and trade centers. Well-invested infrastructure has also contributed to promoting the local trade activities…
Reported by Truc Huynh-Translated by K.T
