Yen Bai trade and services make a strong breakthrough

In the socio-economic picture of Yen Bai province in the first 5 months, the trade and service sector has made a strong breakthrough, acting as a new growth driver. Total retail sales, service revenue, transportation and postal services all grew by double digits, showing that the economy's vitality is gradually recovering clearly.

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Ms. Ha Thi Hong Sam - manager of the grocery store of Hai Phuong Trading and Service Company Limited said: "Since after Tet until now, the number of customers coming to the supermarket has increased steadily every month. Essential goods and technology products are selling well. Revenue in April and May increased by about 20% compared to the beginning of the year. It can be seen that people have started to spend more heavily."

Figures from the Provincial Statistics Office show that the total retail sales of goods in the first five months of the year are estimated at over VND11,316 billion, up 15.78% over the same period. Most product groups have grown strongly: food increased by more than 10%, household appliances increased by over 19%, and means of transport increased by more than 25%. These are positive signals, showing that consumer confidence is gradually being restored.

Not only stopping at shopping, services such as real estate, education , healthcare, entertainment also recorded a breakthrough growth. The total revenue of the service industry in the first 5 months of the year is estimated at 1,222 billion VND, an increase of nearly 30% over the same period in 2024.

Mr. Nguyen Viet Hung - Director of Hung Viet Tourism Company shared: "After Tet, we received many contracts to organize tourism festivals. In particular, the demand for entertainment and tourism within the province is increasing significantly in the areas of Van Chan, Nghia Lo, Mu Cang Chai, Yen Binh. This is a very good sign for the service industry after a difficult period."

In addition, thanks to the long holiday, many resorts and community tourism spots were also crowded again. Revenue from accommodation, food and beverage, and entertainment services increased steadily in May, contributing positively to the overall growth. Playing a logistics role for trade and services, the transportation and warehousing industry in Yen Bai also grew strongly.

In 5 months, the industry's total revenue reached over 1,327 billion VND, up 34.08%. Freight transport increased by nearly 30% in output, passenger transport increased by more than 28%. Meanwhile, express delivery services also developed vigorously, especially in Yen Bai city and Nghia Lo town where e-commerce platforms and online sales units are active.

People shop at MediaMart Supermarket.

The positive growth of trade and services not only reflects the economic recovery, but is also the result of the province's flexible management policies. Yen Bai has been focusing on supporting the development of the domestic market, encouraging consumption, and shifting the labor structure from agriculture to services.

Ms. Do Thi Hau, a worker who has just switched to working as a saleswoman at the Green Electronics Supermarket in Yen Bai city, said: "I used to do farming at home, but due to natural disasters and epidemics, my income was unstable. Since the beginning of this year, I have been working at the electronics supermarket, with a monthly salary of more than 7 million VND, and sales bonuses. My life is more stable, and my family is less burdened."

According to statistics, more than 3,900 workers have shifted from agriculture to non-agriculture in the first 5 months of the year, mainly in light industry, retail, tourism services, and construction. This is a sustainable driving force for consumption growth and increased purchasing power among the population.

It is forecasted that by the end of June 2025, the total retail sales of goods in the province will reach about 13,590 billion VND, an increase of 15.4% over the same period. Service revenue is expected to reach nearly 1,470 billion VND, an increase of 27.29%. This is a positive increase in the context of fluctuating input material prices.

However, to maintain this growth momentum, the province needs to continue to control inflation well, especially electricity prices, food prices and healthcare services... factors that directly affect household consumption. At the same time, it is necessary to expand modern commercial infrastructure, develop urban service ecosystems, encourage startups and digitize business activities.

Trade and services are not only a bright spot in the first 5 months of the year, but also the main driving force helping Yen Bai recover and achieve sustainable economic growth after the pandemic. The changes in consumer behavior, business dynamism and the management role of local authorities are the foundation for this sector to continue to thrive in the coming time.

Hong Duyen

Source: https://baoyenbai.com.vn/12/351855/Yen-Bai-thuong-mai---dich-vu-but-pha-manh-me.aspx