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) 🔯- 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./.
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