The proportion of services keeps increasing
After 5 implementation years of High-quality services developing program, provincial service sector achieved positive results. Sectorial growth rate reached 20.9% that was 1.6 times higher than provincial GDP growth rate. The proportion of service sector continued to increase in economic structure (accounted for 37.3% in 2015). Some potential areas increased their competitiveness and developed rapidly.
The program implementation provided businesses with modern and synchronized services of transportation, electricity, water supplying... Financial services, banking, communications, trade, public services have been modernized and more convenient to users. High-end tourist, entertainment services were also expanded. These factors have contributed to attracting investments, boosting industrial, agricultural production in the province. At the same time, the quality improvement of accommodation, health, education, information, communication, cultural, tourist services have actually heightened people’s living standard.
In recent years, financial and banking services in the province have developed rapidly
Namely, regarding financial-banking-insurance services: financial and banking services have thrived under the direction of improving the quality and extending loans to satisfy needs for capital. The province has now 65 credit institutions including four 100%-foreign-invested banks. Average growth rate of total loan outstanding balance is 15.7%; bad debt ratio is under control (less than 3% of total loans, 1.64% at the end of 2014, and expectedly 1.14% in 2015). Cashless, international, interconnected payment services have been developed. Insurance services, especially social insurance, have grown in terms of quantity and quality to take care health, property and lives of people and businesses.
Many distributors, large retailers have invested in Binh Duong
Regarding Trade-Tourism-Export: trade activities continued to grow to provide diverse and high-quality goods. Average growth rate of total retail sales of goods and services is over 20%. Trade infrastructure was also intensively invested. Many large retailers, like: Nguyen Kim, Thien Hoa, Vinatex, Co-op Mart, Metro Cash & Carry, Big C, Aeon, Lotte ... invested in Binh Duong. Existing traditional markets were upgraded. Many selling location of price-stabilized goods were opened, trade promotion activities were organized to expand export markets.
Tourist revenues and arrivals increased well, many large travel companies opened branches in Binh Duong. Quantity and quality of tourist accommodation surged. At the end of 2014, the province has 21 hotels of 1 to 5 stars; 3 golf courses to serve international and domestic visitor’s needs for high-level tourist service.
Regarding post and telecommunications, postal, telecommunications: internet, TV infrastructure were invested to supply high-quality, safe, uninterrupted services. Online public services were implemented; results of administrative procedures are returned to customers by post.
Transport services in Binh Duong have grown strongly
Regarding warehouse, port and transport: logistics services have thrived in the province, for example, IDC Song Than, IDC Thai Binh Shoes, Maple Tree... The number of transport vehicles, total load capacity increased. The province has now 20 bus routes and 1 fast bus. Warehousing services developed with An Son, An Tay port.
Regarding health, educational sector: healthcare services have been improved to meet people’s needs. Some provincial hospitals applied successfully new advanced treatments; many new high-quality non-public hospitals meeting international standards were founded, like: Hanh Phuc Hospital, Columbia Asia Hospital…
Educational facilities from preschool to university level have been invested and expanded. The province has 516 schools. 65% educational facilities in the province meet national standards. Teachers also satisfied qualification requirements; 89/91 communes, wards and townships met high-school-universalizing standards…
Synchronous development of all types of service
However, there are still limitations in the implementation of High-quality services developing program. Namely, the province has not had trade - financial center; high-quality services in some areas are still weak, such as: counseling services of project appraisal, price valuation, hotel and restaurant, high-quality health care, services supporting agricultural production, high-tech applications…
In the near future, Binh Duong will develop synchronously high-quality services
Infrastructure, tourism development is inconsistency and lacks permanence; has not tapped tourism potentialities along Saigon, Dong Nai River. Full-service logistics, technology transfer have not grown, despite of many efforts from governmental levels. Exports have grown rapidly, but technological innovation, raising level of domestic raw materials, investments in technology and intelligence in exports have not effectively carried out.
Trade infrastructure is still incomplete, rural markets are insufficient. The development of domestic service businesses is slower than of foreign-invested businesses, even on areas of wholesale, retail, banking...
Preservation of national cultural identities in service development was focused but performed ineffectively. Service development in the province has not been synchronous to utilize advantages of the Southern key economic zone…
Binh Duong will develop high-quality services in the future
In order for High-quality services developing program to promote its strengths, Binh Duong province will continue to better management and administration capability of the government at all levels and accelerate administrative procedure reform; study to utilize advantages of the Southern key economic zone to boost services; upgrade infrastructure serving service sector; develop comprehensive all kind of service, especially high-quality services in Binh Duong Industry-Service-Urban Complex (Binh Duong New City).
The province has also called for domestic and foreign investments to carry out socialization in some strong areas of the province; set up appropriate mechanisms to mobilize more funds for high-quality service development; enhance marketing activities, investment attraction right from planning appraisal phase with proper policies; assist investors in land clearance, business activities, product pricing, capital…
Training human resources in various forms, cooperating with foreign organizations, enterprises to foster the human resource towards professionalism and high qualifications to better serve service sector, especially high-end services…
Reported by Dinh Ly - Translated by Ngoc Huynh