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.
No success is easy, especially for a mountainous province like Hoa Binh, which still faces many difficulties. In the process of economic restructuring, the locality encounters various challenges, ranging from weak infrastructure, ineffective investment attraction, to barriers in awareness. However, it has taken effective solutions to overcome obstacles hindering economic development.
A revolution is unfolding in Hoa Binh province, with broad roads stretching across the terrain, industrial zones humming with machinery, organic vegetable fields rolling out in vibrant green expanses, and tourism destinations emerging, rich with cultural identity.
The Youth Union of Hoa Binh city has launched a series of initiatives to foster entrepreneurship, providing members with opportunities to showcase their potential and contribute to local development.
In recent years, the cooperative economy in Hoa Binh province has made significant progress, particularly in the agricultural sector. This development has contributed not only to local economic growth but also to improving livelihoods, promoting rural development, and protecting the environment.
