(HBO) – Modern trade is on a rise today, attracting many economic sectors and inflows of capital. In Hoa Binh, it has been fuelling the development of local infrastructure with more and more markets being renovated and supermarkets and shopping malls being launched to meet the increasing demand of customers.
Vincom Plaza in Hoa Binh City is increasingly becoming a popular choice of consumers thanks to its modern setting and diverse supply of goods.
Hoa Binh is now home to six supermarkets, three shopping malls and hundreds of convenient stores. There have been 22 markets newly constructed and 13 others renovated, with total investment of 192 billion VND, over the last five years.
According to the provincial Department of Industry and Trade, supermarkets and shopping malls have played an important role in helping the province stablise the market prices, particularly those of essential goods. The modern infrastructure for trade has also helped develop professional and standardised distribution channels, ensuring food safety, origin traceability, fire prevention and environmental sanitation. There is a strong shift from traditional trade to modern trade in Hoa Binh.
Local districts have also seen the emergence of new trade and services clusters with the launches of more convenient stores, those selling electrical appliances and others, to meet needs of consumers and bolster trade of goods.
Data from the Department of Industry and Trade shows that about 30 percent of local residents are regular shoppers on online marketplaces, such as Lazada, Shopee and Sendo. E-commerce sales are growing at around 20 percent annually. The province has been providing support to local enterprises in online trading as e-commerce is deemed as an effective and cost-efficient tool for branding and marketing.
Hoa Binh’s total retail sales of goods and services expanded 19 percent annually. The figure exceeded 28.97 trillion VND in the first eight months of this year, up 15.8 percent from the same period last year and representing about 65 percent of the yearly target./.
The provincial Department of Agriculture and Rural Development on November 20 coordinated with Hai Dang Group Hoa Binh Seafood Company Limited to release 1.5 tonnes of fries into Hoa Binh Lake to regenerate aquatic resources, with a total value of 266 million VND (10,460 USD).
On the afternoon of November 16, Nguyen Phi Long, alternate member of the Party Central Committee and Secretary of the provincial Party Committee, held a reception for a delegation from the Indian Embassy led by Ambassador Sandeep Arya. The delegation included the chairperson of the Indian Chamber of Commerce in Vietnam, embassy personnel, and Indian businesses operating in Vietnam. Accompanying Long at the meeting were leaders of the provincial People's Committee and representatives from various departments and sectors.
Hoa Binh province hosted the "Meet India 2024" conference on November 16, marking a significant step in strengthening bilateral economic ties between Vietnam and India.
In recent times, with its core role in building and fostering great national unity, Cao Phong district's Vietnam Fatherland Front Committee has actively carried out its responsibilities and front work, and closely collaborated with member organisations to encourage locals to implement the Party’s guidelines, and the State’s policies and laws. At the same time, it has worked to promote the dynamism, creativity, and contributions of officials, Party members, and local people to help the district develop further.
From a type of bulb used as a seasoning for daily meals, thanks to the efforts of local authorities and farmers, shallots have become a commercial crop in Yen Thuy district, contributing to promoting the transformation of crop structure in agricultural production, bringing higher incomes to locals.
