Industrial and commercial activities of Bac Lieu province continued to grow quite. This outcome resulted from many business support solutions introduced by the province.
Bac Lieu is in a relentless pursuit to become a national hub for clean and renewable energy
Maintaining positive growth momentum
Trade and service developed quite vibrantly. Total retail revenue of consumer goods and services reached VND66,135.86 billion in 2022, up 20.85% year on year, and VND62,791.53 billion in the first 10 months of 2023, up 19.38% year on year. The “Buy Vietnamese” campaign launched by the Politburo continued to be scaled up.
Merchandise exports increased, with seafood sold well in traditional export markets. The export value amounted to US$853.16 million in 2022, a year-on-year growth of 9.92%, and US$764.97 million in the first 10 months of 2023, up 8.49% from the same period of 2022.
Clean and renewable energy continued to develop as Bac Lieu strives to become a national center in this field. At present, eight active wind power plants, installed onshore and offshore, have a total installed capacity of 469.2 MW (the largest in the Mekong Delta and third in the country). Total wind power output has to date reached over 3 billion kWh, helping reduce carbon emissions by 2,412,300 tons, increase eco-friendly electricity sources and ensure national energy security.
Delegates explore the OCOP product display area
Supporting market expansion
Due to global economic recession and prolonged Russia-Ukraine conflict, shrimp exports of Vietnam, including Bac Lieu province, declined on few orders.
In response to unfavorable market situations, the Department of Industry and Trade actively advised the Provincial People's Committee on key tasks and solutions like supporting local businesses to invest in upgrading equipment and technology and expanding production capacity with a total budget of VND3,625 billion 2022 and the first 10 months of 2023 (VND3,040 billion in 2022 and VND585 million in the first 10 months of 2023), supporting local businesses to boost trade promotion, with focus on domestic and foreign markets.
Local companies attended 13 trade fairs and 16 supply-demand connection conferences in the country in 2022, and the first 10 months of 2023. The province assisted local companies, especially manufacturers of the One Commune One Product of Vietnam (OCOP), to bring local products to exhibitions and trade fairs to showcase and introduce them directly to consumers.
In 2023, the Department of Industry and Trade advised the Provincial People's Committee to organize a delegation of officials and businesses to attend Vietnamese Goods Week 2023 in Thailand, jointly held by the Ministry of Industry and Trade of Vietnam and Central Retail Vietnam Group from August 16, 2023 to August 20, 2023, and open a supply-demand matching conference for OCOP products of Bac Lieu province and other provinces and cities. These trade promotion events bridged local and external businesses and manufacturers to meet, exchange experiences, transfer technology, establish business cooperation, introduce potential strengths, introduce their product brands and expand markets.
Bac Lieu province has actively supported processors and exporters to boost investment for innovating technology and equipment, expanding production scale to improve quality, enhance competitiveness and bring products to other markets. At the same time, the province has encouraged businesses to invest in processing and exporting new products to new markets and quickly increase the province's export value; encouraged businesses to diversify partners and product sources and limit input dependence on a few markets, comply with regulations in export markets, pay attention to market research and import and export procedures, carefully study market information, signals and regulations and standards to abide by regulations on business registration, quality standards, quarantine testing, packaging and traceability.
In addition, the province has supported companies to boost the application of information technology and digital transformation in trade promotion; encouraged businesses to register product brands, promote products in association with building and promoting shrimp, rice and salt brands and OCOP products of Bac Lieu province. The province has focused on improving and enhancing the efficiency of established distribution channels; built and expanded new cooperation models, and closely coordinated producers with other economic sectors; and attended more domestic and international workshops, forums, fairs and exhibitions organized by localities and central agencies to strengthen direct connections. These have helped local businesses to expand export markets.
By Viet Chinh, Vietnam Business Forum
Vietnamese
