The Service Sector’s Share is Declining: The Northern “Industrial Heartland” to Develop at Least Two Night-Time Economic Service Zones

The Standing Committee of the Provincial Party Committee of Bac Giang has issued Resolution No. 371-NQ/TU on developing key service industries for the period of 2024-2030. The resolution acknowledges that the province’s service sector has not kept pace with its industrial development and aims to address this imbalance.

It targets the synchronized and modern development of competitive, high-quality services, including commercial services in urban areas and around industrial parks, logistics, financial services, tourism (with a focus on leisure and entertainment), night-time economy, sports, cultural, healthcare, and high-quality education and vocational training.

By 2030, Bac Giang aims to become a hub for goods transportation, warehousing, logistics, commerce, finance, entertainment, high-quality healthcare, education, and vocational training in the mountainous region of northern Vietnam.

Specific goals include achieving an average growth rate of 7.5-8.5% in the service sector from 2024 to 2030, striving for a rate of 10-11%/year. By 2030, the province aims for the service sector to contribute approximately 21-22% to the provincial GRDP, with a target of 24-25%.

To achieve these goals, Bac Giang will develop modern commercial centers, aiming for at least one large-scale, high-standard shopping mall. Additionally, all new industrial parks will have dedicated service areas. The province targets an average growth rate of 15%/year in retail goods circulation and consumption services during the 2024-2030 period.

Bac Giang also aims to boost tourism by developing entertainment, accommodation, and leisure facilities. The province plans to attract investments for 2-3 hotels with a minimum of 4-star ratings and develop at least one large-scale, separate entertainment complex.

It will also focus on developing comprehensive services, logistics, and inland container depots (ICDs), aiming for 5-7 integrated service and logistics projects and 3 ICD projects by 2030. The province aims for an average annual increase of 8-10% in the volume of goods and passenger transportation during the 2024-2030 period.

To support the growing economy, Bac Giang will enhance financial services, aiming for at least 35 bank branches by 2030, including international banks or domestic and foreign investment funds. The province will also attract investments for 3 high-quality hospitals and 1-2 international schools in Bac Giang city, Viet Yen town, and other areas with developing industrial zones.

Known as the “industrial capital” of northern Vietnam, Bac Giang currently has 9 approved industrial parks, 8 of which are operational, covering a total area of 2,238 hectares. Additionally, 38 industrial clusters are spread across the province, occupying more than 1,208 hectares.