Alongside GRDP growth, a sharp increase in the number of enterprises, cooperatives, and household businesses reflects business community confidence in the province’s investment and business climate, while demonstrating that the private economic sector is regaining growth momentum, laying the groundwork for sustainable expansion.

These outcomes stem from the province’s focused, synchronous implementation of the Government’s and the province’s private economic development policies. Numerous solutions aimed at improving the investment climate, resolving corporate bottlenecks, reforming administrative procedures, and facilitating access to land, credit, and market development have been decisively executed, creating favorable conditions for organizations and individuals to boldly invest and expand production and business.

On June 26, the Veterans’ Association of Điện Biên Phủ ward held an inauguration ceremony for the Điện Biên Veterans Service and Tourism Cooperative, with a charter capital of VND 350 million.

According to Bùi Văn Tuân, Director of the Cooperative, the unit’s objective is to leverage potential, create jobs for veteran members, contribute to collective economic growth, and build tourism products rich in Điện Biên’s identity. Concurrently, it develops exhibition areas to showcase local specialty produce and OCOP products, while deploying models to preserve and cultivate medicinal plants linked to product manufacturing.

Also in June, the family of Nguyễn Thị Hương in Mường Thanh ward registered a business for a grocery store. Nguyễn Thị Hương shared that after market research, seeing market recovery and rising consumer demand, she decided to invest in opening the shop. According to her, an increasingly favorable business climate provided the motivation for households to boldly start businesses and expand production and trade.

According to statistics, over the past seven months, the entire province recorded 208 newly established enterprises with total registered capital of over VND 1,515.6 billion, up 74 enterprises compared to the same period last year. In addition, 47 enterprises resumed operations after periods of temporary suspension. To date, Điện Biên has 1,732 active enterprises with total registered capital reaching VND 43,426 billion, alongside 1,004 branches, representative offices, and business locations registered for operation across the locality.

Beyond the enterprise sector, individual business operations have also expanded vigorously. In the past seven months, the province recorded 2,049 newly established household businesses with total registered capital of over VND 285.39 billion. Cumulatively, the province currently has 15,598 household businesses with total registered capital exceeding VND 1,612.6 billion. The growth of the household business community reflects the resilience of the private economy at the grassroots level.

The collective economy continues to affirm its crucial role in rural economic development. In the first seven months of the year, Điện Biên established 24 new cooperatives with total charter capital of nearly VND 21.93 billion. To date, the entire province has 375 cooperatives with total charter capital exceeding VND 1,036.9 billion. This shows that collective economic models continue attracting public participation, especially in agriculture, agro-processing, and services.

Underpinning these growth figures is a marked improvement in the investment and business climate. A prominent highlight is the application of the “Green Channel” mechanism for 35 administrative procedures in non-budget investment attraction. Accordingly, procedural processing times have been slashed by 70% to 90% compared to standard regulations, helping investors shorten project preparation phases, cut costs, and quickly deploy projects. This represents a vital factor enhancing the attractiveness of the investment environment, inspiring confidence among enterprises when selecting Điện Biên as a destination.

Business community confidence is also reflected in survey results on production and business trends within the industrial sector. Out of 17 surveyed enterprises, nine assessed that production and business operations would become more favorable. Three enterprises forecast that their production and business situations would remain stable. Although some cement manufacturing enterprises expect challenges due to the rainy season dampening construction demand, the balance index of production and business trends still reached 23.53%, showing that the number of enterprises expecting positive prospects significantly outweighs those predicting difficulties.

The surge in the number of enterprises, cooperatives, and household businesses reflects the overall health of the economy. When the economy encounters difficulties, businesses typically scale back operations. Conversely, many new enterprises being established, businesses resuming operations, and household business numbers continually expanding demonstrate that the investment climate is improving, the market is signaling recovery, and economic actors’ confidence is increasingly solidified.

This positive trend is also proven by the province’s economic growth figures. In the first six months of 2026, Điện Biên’s GRDP grew by 8.67%, higher than the national average. This is the result of resonance between effective government administration and the dynamism of the community of enterprises, cooperatives, and household businesses.

Against the backdrop of an economy still facing many challenges from market volatility and natural disasters, the sharp continued rise in the number of enterprises, cooperatives, and household businesses is a very encouraging signal. Beyond expanding production scale, creating jobs, and increasing budget revenues, the private economic sector is becoming a vital driving force promoting innovation, elevating competitiveness, and shifting the province’s economic structure.