(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./.
After more than four years of implementing a project launched by the Hoa Binh Party Committee’s Standing Board on developing agriculture and promoting product consumption linked with building new-style rural areas for the 2021-2025 period, the province’s industry and trade sector has made significant strides, greatly contributing to local socio-economic development.
Luong Son district has identified 2025 as the year for the accelerated breakthrough to successfully implement the socio-economic development plan for the 5-year period from 2021 to 2025. The district has been focusing on executing the plans and trying to achieve a GRDP growth rate of approximately 15%.
Since the beginning of this year, under the direction of the Department of Agriculture and Environment, the Sub-Department of Agricultural, Forestry, and Fishery Product Quality Management has strengthened the integration of the professional activities to promote and guide the organizations and individuals in the production and trading of agricultural, forestry, and fishery products to comply with the legal regulations regarding the use of chemicals, pesticides and veterinary medicines in crop cultivation, livestock farming and aquaculture. They also provide guidance to processing and manufacturing establishments on keeping the records to trace the product origins and using food additives from the approved list according to the regulations.
Hoa Binh province saw a significant rise in state budget revenue in the first two months of 2025, heard a meeting chaired by Vice Chairman of the provincial People’s Committee Quach Tat Liem.
Ha Thi Ha Chi, a 26-year-old graduate in law, has taken an unconventional path by returning to her hometown in Mai Chau district to establish the Tong Dau Cooperative, creating stable jobs for local women and bringing Thai ethnic brocade weaving to the global market.
As the Lunar New Year 2025 approached, pork prices surged, creating a profitable season for farmers in Tan Vinh commune, Luong Son district. Taking advantage of the rising demand, Can Minh Son, a farmer from Coi hamlet, sold over 30 pigs at 69,000 VND/kg, each weighing more than 100 kg. After deducting expenses, his family earned a profit of over 50 million VND.
