In 2025, Hoa Binh’s banking sector will focus on providing capital to drive production and business activities. Credit institutions in the province are committed to meeting the loan demands of businesses and individuals, fostering economic growth.
Vietinbank branch in Hoa Binh effectively introduces credit packages to
customers.
Agribank’s Hoa Binh branch has launched preferential credit programmes, contributing to a nationwide funding package of 110 trillion VND (over 4.3 billion USD). This includes 70 trillion VND for production and business activities loans at a competitive 4.5% annual interest rate, 30 trillion VND for personal needs, and 10 trillion VND for green credit projects at 3.5% per year, targeting eco-friendly and organic agricultural initiatives.
According to Nguyen Huu Thang, Deputy Director of Agribank’s Hoa Binh branch, the programmes offer attractive rates and streamlined procedures to enhance financial access. With 12 branches and 29 transaction points, Agribank Hoa Binh surpassed its 2024 business targets, contributing to regional monetary stability.
Other financial institutions in the province are also rolling out preferential credit programs to support business recovery and expansion. The sector aims for 16% credit growth in 2025, with Hoa Binh targeting at least 12%, focusing on agriculture, enterprises, and collective economic models.
In 2024, the banking sector successfully implemented debt restructuring and preferential credit policies, leading to a 0.2–2% drop in lending interest rates compared to late 2023. Credit outstanding increased by over 2.83 trillion VND, supporting the province’s 9% GRDP growth.
Moving forward, the banking sector will continue facilitating access to capital, ensuring sustainable credit growth aligned with Hoa Binh’s economic development goals.
Hoa Binh province’s economy posted an impressive Gross Regional Domestic Product (GRDP) growth rate of 12.67% in the first quarter of 2025, representing a 12.76% year-on-year increase, the highest rate recorded since the beginning of the current tenure, according to the provincial Statistics Office. This robust growth reflects years of strategic groundwork and sets a strong foundation for the province’s annual growth target of over 10%.
With a focus on cash crop farming with science - technology application and brand building, Lac Thuy district is gradually increasing production value, improving people's life quality, and laying the foundation for sustainable socio-economic development.
In recent years, the economic development model "Hoa Binh Earthworm Farm” run by Mr. Bui Van Dang in Co Giua Hamlet, My Thanh Commune (Lac Son district) has not only brought stable economic value but it is also environmentally friendly, helping to protect and reduce pollution, contributing to the construction of a green and sustainable agriculture.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
