The northern province of Bac Giang will implement some policies to stimulate trade and services with the aim of raising total retail and service revenues to 34.8 trillion VND (over 1.5 bilion USD) in 2020.
Bac Giang (VNA) – The northern province of Bac Giang will implementsome policies to stimulate trade and services with the aim of raising totalretail and service revenues to 34.8 trillion VND (over 1.5 bilion USD) in 2020.
Director of the provincial Department of Industry and Trade Tran QuangTan said the province will focus on developing a modern distribution network incombination with traditional retail models depending on the characteristics ofeach area.
Accordingly, Bac Giang will call for investment into several keyprojects to assist with the distribution of local farm produce including awholesale market and an international logistics centre in Bac Giang city.
Incentives will be offered to attract investment from foreign investorsand big corporations into the building of modern retail facilities. The move isalso aimed at expanding consumption markets for local products and services.
The province will pay attention to promoting production and sale chainsfor key products and expanding commercial services through offering support tofirms in the form of consultation in building business strategies, applicationof scientific and technological advances and brand building.
In particular, Bac Giang city, which is the province’seconomic-political-cultural hub, will be turned into a logistics centre and agate for foreign trade, serving trade between the Hanoi capital region andChina through the Huu Nghi international border gate in Lang Son province.
Besides, Bac Giang plans to develop new and upscale services to attractmore investors and tourists not only from adjacent localities but also fromabroad.
At present, the province has 133 operational markets, along with 7shopping centres and 8 supermarkets, not to mention over 36,000 wholesale andretail facilities of smaller scale. In general, the trade infrastructure in theprovince is weak, with few modern retail facilities. The existing ones aremostly of small scales..
Total retail and service revenue in the province reached almost 12trillion VND (nearly 521 million USD) in the first six months of this year, up 12.5 percent from thesame period in 2017. The figure for the entire year is estimated at 25.5trillion VND, up 15 percent year on year.-VNA
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Illustrative image (Source: VNA) 
