Vinh city's industry and services maintain stable growth
According to the assessment, Vinh city's service industry in 2024 will maintain a stable growth rate, effectively contributing to the city's socio-economic development.
Industry and handicrafts are one of the key spearheads to help the city's economy grow more and more sustainably.
According to Vinh city's report, the city currently has 2,330 industrial production establishments, creating jobs for 26,411 workers. Of which, the non-state sector accounts for the largest proportion: 87.94% of production value, the foreign-invested sector accounts for 5.01%.
In recent years, the city has not had a policy to attract industrial investment into the area. Factories and production facilities have made efforts to find markets, maintain production, find customers, and reduce production costs. Thanks to that, the industrial production situation in the area has remained stable, creating jobs for workers, increasing production value, and increasing state budget revenue.
By economic sector, the processing and manufacturing industry is the key industry, accounting for 91.9% of the industrial production value in 2024. Products that increased compared to the same period include: Packaging: 39.5 million units, up 10.94%; confectionery: 287 tons, up 11.24%; Paperboard 3.12 thousand tons, up 11.51%; Animal feed: 29.9 thousand tons, up 8.07%, Carton boxes 8.9 million units, up 11.09%,...
The production and distribution of electricity, gas, hot water, steam and air conditioning accounted for 5.65% of the industrial production value in 2024. Some products increased compared to the same period: Commercial electricity increased by 14%; water and ice increased by 9.26%.
Currently, due to the impact of reduced exports, large inventories, high input material prices, slow consumption markets, and difficult-to-sell products, some industrial products have low growth, but in general, they still maintain growth compared to the same period.
Regarding services, trade and tourism: The estimated production value of the service industry reached 35,129 billion VND (according to 2010 comparative prices), up 10.03% over the same period. The total value of retail goods and service revenue in the market reached 40,050 billion VND, up 15.25% over the same period.
Commercial and service activities in the city are quite vibrant, the wholesale and retail system is increasingly expanding, commercial establishments are constantly improving service quality, innovating in form to meet the needs and tastes of consumers. Many commercial centers of leading domestic and foreign retailers such as: MM Market; Big C; Lotte Mart; Winmart,... have increasingly better met the shopping needs of people and tourists.
E-commerce has developed, with the initial participation of commercial enterprises. The activities of models such as Night Street, Walking Street, and Food Street have contributed to creating conditions to stimulate economic development associated with urban beautification.
