Bac Giang creates breakthrough in service sector development
In its efforts to strengthen the local economy, the northern province of Bac Giang is focusing on transforming the service sector into a core driver of growth.
Bac Giang aims to achieve an average annual growth rate of 7.5 - 8.5% for the service sector between 2024 and 2030. (Photo: VNA)
Bac Giang (VNA) ཧ- In its efforts to strengthen the local economy, the northern province of Bac Giang is focusing on transforming the service sector into a core driver of growth.
Vice Chairman of the provincial People’s Committee Phan The Tuan highlighted the province’s commitment to attracting investments to and fostering high-quality and competitive service development.
The province has identified several service industries with potential for growth, including commercial services in urban areas and industrial parks, transportation and logistics, banking and finance, tourism, nighttime economy, sports and culture, healthcare, and high-quality education and vocational training.
By 2030, the service sector's contribution to Bac Giang’s gross regional domestic products (GRDP) is expected to reach 21 - 22%. (Photo: VNA)
Bac Giang aims to achieve an average annual growth rate of 7.5 - 8.5% for the service sector between 2024 and 2030. By 2030, the sector's contribution to the province’s gross regional domestic products (GRDP) is expected to reach 21 - 22%, with retail and consumer service revenues targeted at an annual growth pace of 15% during 2024 - 2030.
To realise these goals, the province is prioritising the establishment of modern commercial centers, particularly in urban areas and industrial zones. The plan includes developing at least one large-scaled commercial hub equivalent to a tier-one shopping mall and ensuring all new industrial parks feature dedicated service areas.
Developing tourism at the same time with entertainment and accommodation services is also a focus. Efforts will be made to attract investments to two or three 4-star or higher hotel projects and at least one large-scaled entertainment complex.
By 2030, Bac Giang aims to establish at least two nighttime economy zones in Bac Giang city and Viet Yen township to cater to tourists, residents, and professionals working in the province.
Healthcare and education are other priorities, with plans to attract investments to at least three high-quality hospitals and one or two international schools in Bac Giang city, Viet Yen township, and areas with developed industrial parks.
The province is working on high-quality residential areas tailored to foreigners and mixed-use zones combining residential, commercial, and recreational facilities near large urban areas and industrial hubs. These areas will include a range of housing options, from low-rise and high-rise units to serviced apartments and condotels, designed to meet the living and leisure needs of local residents and foreign professionals.
The modern production line of Hana Micron Vina Co., Ltd., a Korean-invested company, located in the Van Trung Industrial Park of Bac Giang province. (Photo: VNA)
Key projects include the Bac Giang mixed-use urban area and international market, the Nham Bien Mountain golf urban area, and the Ho Cao Lake eco-tourism and resort complex. These projects aim to create significant economic momentum while enhancing Bac Giang’s appeal as a tourist and investment destination.
Despite its robust GRDP growth, the province’s service sector development has not yet matched the pace of its broader economic expansion.
In 2023, retail and consumer service revenues reached 56.5 trillion VND (2.2 billion USD), a 13% increase from the previous year, with an average annual growth rate of 13.8% between 2021 and 2023.
However, Bac Giang faces challenges such as a lack of large-scaled entertainment facilities and comprehensive nighttime attractions.
While some progress has been made, like the planned establishment of an Aeon Mall in Bac Giang city, there is still a notable absence of high-profile projects in commercial services, leisure, and tourism. Existing recreational facilities are limited to urban parks and small-scaled venues like Hoang Hoa Tham Park and the Wedding Land Entertainment Park.
To address these challenges, the province is set to focus on improving infrastructure, enhancing urban planning, and allocating land for commercial and service development. It is also accelerating administrative reforms and investment promotion activities to attract large-scaled projects.
The local administration is encouraging the private sector and the community's participation in service development. Efforts are also underway to expand the supply of skilled labour for the service industry, alongside reforms to improve the business and investment climate.
By 2030, Bac Giang envisions a thriving service sector anchored by modern urban centres, vibrant tourism, and competitive industries. With strategic investments in infrastructure and key sectors, it aims to establish itself as a dynamic economic hub that meets the needs of residents, professionals, and tourists alike./.
The northern province of Bac Giang is building a digital communication platform connecting the local administration with citizens and businesses, according to Tran Minh Chieu, director of the provincial Department of Information and Communications (DoIC).
The northern province of Bac Giang will promote e-commerce development in the locality, focusing on organising training and workshops for businesses, cooperatives, and individuals to improve their capacity to utilise e-commerce applications.
The northern province of Bac Giang will continue attracting foreign direct investment (FDI) projects in the time ahead, prioritising those using high-tech or relating to supporting industries and high-quality services, local authorities have said.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
