Phu Nhuan District Enhances Strengths of Service, Commerce Sector

The significant point in economic structure of Phu Nhuan in 2006 – 2010 period lies in emerging services which make considerable contribution to economic growth.

 

After years of transfering economic structure according to “Service – Industry” direction, service sector makes up approximately 95 %age of the total production – business of the whole district, construction sector, 2.8 %age, and industry, 2.5 %age. The development of service sector meets the evergrowing and diversifying consumption demands of the society.

 

In 2009, the district is home to 3,500 enterprises, most of which operate in the areas of finance – credit, office – luxurious apartment renting, tourism service, technology consultancy and transfering, and education – healthcare, etc. Thanks to the activeness in reforming management manner, renovating technology, researching and developing new products, reducing processing proportion, increasing purchase of materials and semi-products, production – business capacity in service – commerce area of enterprises in the district witnesses a significant growth. Private enterprises have a considerable development step and their turnover account for an ever growing rate in the total production – business value.

 

Many enterprises in the service sector are dynamic, creative and adaptable to integration process, establishing and developing their brand names successfully in the market, including Phu Nhuan Jewelry Joinst Stock Company (PNJ), Phu Nhuan Service Joint Stock Company (MASECO), East Asia Bank (EAB), Phu Nhuan Commerce and Service Joint Stock Company (PNC), Lac Viet Informatics Joint Stock Company, HPT Informatics Joint Stock Company and Icare, etc.

 

A number of service and commerce co-operatives get merged with an aim to expanding operation scale, improve competetiveness as well as diversifying business lines, retail turnover and profit for members, generate job and income for labourers.

 

Currently, though the production and value of production and service sector of the district go up significantly, competitiveness of enterprises is limited (scale is small and medium, retail selling and distribution system is yet to be stable, and added value is not high, etc.) The structural shifting of technological economics of industrial production is still slow. The land fund of the district is very limited in meeting development production – business demand of the area (since luxury service sector or industries using modern production lines require large area), production bases are fragmanted, located among residence areas. Quality of human resource does not meet requirements of industrial production. Socialization of education – vocational education, medicine and cultural information, etc, is not compatible with demands of the district.

 

To cope with above facts, Phu Nhuan district is focusing on developing potential services which can meet ever growing demand of the society, including expanding distribution network , encouraging market management co-operative model and boosting the preparation pace for the trade center – super market construction and investment project at Phu Nhuan market. Investment will also be mobilized for highly competitive service sectors, such as real estate, investment consultancy, science and technology, tourism service, etc. so that service sector of the district can develop upto its potentials. Accordingly, the district will allocate reasonable land fund and invstment to construction and modernisation of urban infrastructure system and development of luxurious services. Land use gratio will be increased with an aim to avoid the fragmentation in land use and to achieve effective exploitation of urban infrastructure system. Cultural and administrative, commercial and service centres will be established along important road routes.