Bac Giang (VNA) – The northern province of Bac Giang will focus on attracting investment and creating breakthroughs in developing its service sector in the coming time, said Vice Chairman of the provincial People’s Committee Phan The Tuan.
Tuan said that the province has determined to gradually turn its service industry into a key economic sector with an increasing proportion in the province’s economy with high quality, efficiency and competitiveness.
It will focus on potential services, including commercial services in urban areas and around industrial parks; transport, logistics; finance and banking; tourism, particularly resort tourism and entertainment; night-time economic services; sports and cultural services; health care; and high-quality education and vocational training.
In the 2024-2030 period, Bac Giang is striving to achieve an annual average growth rate of 7.5% - 8.5% of the service sector. It is expected to contribute to about 21%-22% of the province's GRDP by 2030; and the total retail sales and consumer service revenue in the period will reach an average growth rate of about 15% per year.
From now to 2030, Bac Giang will prioritise attracting investment and developing commercial centres and all of new industrial parks in the province will have concentrated service areas.
The province will promote the development of tourism services associated with entertainment, accommodation and resorts. It eyes to attract investment in two to three hotels with standards of 4 stars or higher; form at least a large-scale entertainment complex.
By 2030, it also expected to have at least two night-time economic service areas in Bac Giang city and Viet Yen township, at least three high-quality hospitals, one or two high-quality international schools in Bac Giang city, Viet Yen town and in areas which are home to developed industrial parks and clusters.
The province seeks different investment resources to develop infrastructure to serve service development. Accordingly, it will innovate and improve the effectiveness of investment promotion, strengthen human resources training for the service sector, speed up administrative procedure reform, and improve its investment and business environment.
In the coming time, Bac Giang will offer favourable locations to attract investment in projects of hotels, commercial centres, banks, schools, hospitals, and night-time economic zones in Bac Giang city, Viet Yen township and localities which are planned to become townships such as Hiep Hoa, Lang Giang, and Chu.
Besides high-quality urban areas for foreigners, the province planned to form urban areas and residential areas in large cities, near industrial parks and clusters with full amenities from low-rise and high-rise houses to commercial services, hotels, and condotels to meet different needs.Notably, Bac Giang will focus on attracting and implementing urban area projects combined with commercial service projects, large tourism and resort projects, creating momentum for local development such as Bac Giang urban area and international market complex; Nham Bien mountain golf course and urban area in Bac Giang city and Yen Dung district; and integrated service and commercial urban area in the communes of Tan My, Song Khe, and Trang Tien, Bac Giang city and Viet Yen township.
In recent years, Bac Giang province's economy has ranked 12th in the country but its service sector has yet to be commensurate with the province's economic growth rate.
Total retail sales of goods and consumer service revenue in the province in 2023 reached 56.5 trillion VND (2.3 billion USD), an increase of 13% compared to 2022. The average growth rate in the 2021-2023 period was 13.8% a year.
To date, the province has 132 markets with a total area of 643,442 sq.m. The province has five shopping centres, five supermarkets, 12 mini supermarkets, 631 convenience stores, 65 wholesalers of food and essential goods, and 69 warehouses with a total area of 20,417 sq.m. It has had few parks and entertainment areas./.
