The industrial and service sectors of Vinh City maintained stable growth.
According to assessments, the service industry in Vinh City maintained stable growth in 2024, effectively contributing to the city's socio-economic development.
Industry and handicrafts are among the key drivers for the city's sustainable economic growth.
According to a report from Vinh City, the city currently has 2,330 industrial production facilities, creating jobs for 26,411 workers. Of these, the non-state sector accounts for the largest share: 87.94% of the production value, while the foreign-invested sector accounts for 5.01%.
In recent years, the city has not pursued a policy of attracting industrial investment, but factories and production facilities have strived to find markets, maintain production, seek customers, and reduce production costs. As a result, industrial production in the area has remained stable, creating jobs for workers, increasing production value, and boosting state budget revenue.
By economic sector, the processing and manufacturing industry is the leading sector, accounting for 91.9% of the industrial production value in 2024. Products showing an increase compared to the same period include: Packaging: 39.5 million pieces, up 10.94%; confectionery: 287 tons, up 11.24%; cardboard: 3.12 thousand tons, up 11.51%; animal feed: 29.9 thousand tons, up 8.07%; cardboard boxes: 8.9 million pieces, up 11.09%,...
The electricity, gas, hot water, steam, and air conditioning production and distribution sector accounted for 5.65% of industrial production value in 2024. Several products showed year-on-year increases: Commercial electricity increased by 14%; water and ice increased by 9.26%.
Currently, due to the impact of declining exports, large inventories, high input material prices, slow consumer markets, and difficulties in selling manufactured products, some industrial products are experiencing low growth, but overall, they are still maintaining growth compared to the same period last year.
Regarding services, trade, and tourism: The value of production in the service sector is estimated at VND 35,129 billion (at 2010 constant prices), an increase of 10.03% compared to the same period. The total value of retail goods and service revenue in the market reached VND 40,050 billion, an increase of 15.25% compared to the same period.
Commercial and service activities in the city are quite vibrant, with the wholesale and retail systems expanding rapidly. Commercial establishments are constantly improving service quality and innovating in terms of design to meet the needs and tastes of consumers. Many shopping centers of leading domestic and international retailers such as MM Market, Big C, Lotte Mart, Winmart, etc., have increasingly met the shopping needs of residents and tourists.
E-commerce has seen significant development, initially involving commercial enterprises. The operation of night markets, pedestrian streets, and food streets contributes to stimulating economic development alongside urban beautification.
