09:16 | 12/11/2015 Local Economy
(VEN) - Dong Nai Province’s service sector has achieved its most rapid development pace in the 2011-2015 period, especially for trade, transport, insurance, tourism and entertainment.
Vincom Bien Hoa
Developing by leaps and bounds
Provincial retail sales of goods and services in the 2011-2015 period have achieved an annual average growth of 17 percent. Dong Nai has built 19 new markets over the past five years, bringing the total number of local markets to 166 at present.
Dong Nai has achieved a five percent annual average growth in tourist numbers and an annual average tourism revenue growth of 15 percent during the 2011-2015 period. Local key ecotourism destinations including Buu Long, Thac Mai, Bo Cap Vang, Vuon Xoai and Giang Dien are most attractive to tourists.
Recognizing high local demand for road and waterway transport, Dong Nai has drafted a transport development plan until 2020 with a vision towards 2030, with a focus on the development of logistics services and port upgrading. The province currently has three ports on the Dong Nai River including Dong Nai Port, Long Binh Tan Ward, Bien Hoa City, capable of receiving 5,000 deadweight tonnage (DWT) vessels, a specialized container terminal port and a VT-Gas at Port capable of receiving 1,000 DWT vessels.
In recent years, Dong Nai’s ports have been connected with Ho Chi Minh City’s and Ba Ria-Vung Tau to facilitate cargo traffic inside and outside the country, shaping an integrated port system coupled with economically growing centers.
One of key success in Dong Nai’s service development in the 2011-2015 period is bringing the concept of safe food supply chain into practice. In this period, the annual average growth rate of agriculture-forestry-fishery production value has achieved more than four percent. As of the end of 2014, the province had 850 of 2,532 farms were certified and 110 agricultural co-operatives.
Five businesses in the province have piloted large-scale field projects for farming coffee, mangos, cashew nuts, sugar-cane and cocoa. Many large corporations including Vingroup, Masan and Hoa Phat have come to Dong Nai looking for investment opportunities in high-tech agriculture.
Taking new development opportunities
Dong Nai is viewed as having potential for trade and service development, especially retail sales. To date, big retailers including Vincom, Big C, Lotte Mart, Co.op Mart, Nguyen Kim, Dien May Cho Lon, The Gioi Di Dong and FPT have opened in Dong Nai. The Vincom Group recently opened the Vincom Bien Hoa shopping center.
Since the beginning of the year, many foreign investors in trade and services have also come to Dong Nai to learn about provincial policies and investment opportunities including Walmart and Target from the US and several companies from Japan, Singapore, Thailand and Italy. The Target Group, for example, plans to work with local garment and wood furniture enterprises to promote exports to the US.
Dong Nai expects to become one of the top five most attractive investment destinations for large commercial corporations across the world if the Trans-Pacific Partnership (TPP) is signed.