As part of efforts to restructure and accelerate the development of its industrial and handicraft sectors, Hoa Binh province is focusing on the development of industrial parks (IPs) and industrial clusters (ICs) with synchronous infrastructure to attract strong investment.
Following comprehensive infrastructure upgrade, the Da River Left Bank Industrial Park (Hoa Binh city) secures a major investment worth over 200 million USD from Japan’s Meiko Group.
According to the Hoa Binh Industrial Park Management Board, five new investment projects were granted registration certificates in the first four months of this year, with a total committed capital of 2.7 million USD and 310.54 billion VND (12.42 million USD). To date, Hoa Binh’s IPs have attracted 117 projects, including 28 foreign-invested ones valued at 435.05 million USD, and 89 domestic projects totaling more than 10.52 trillion VND. Currently, 71 projects are operational, creating local jobs, diversifying the local economic structure, and contributing significantly to the state budget.
Under the province’s master plan for 2021–2030, with a vision to 2050, Hoa Binh aims to develop 16 IPs covering nearly 3,904 ha, eight of which were previously planned and eight newly designated.
On the IC front, the province has outlined 38 clusters totaling around 2,209 ha, including 17 pre-existing and 21 newly added. To date, 15 out of 38 clusters have been officially established, covering a total area of around 705 ha, with an average occupancy rate of 41.3%.
The standing board of the provincial Party Committee stressed the importance of effectively following mechanisms and policies to pool investment resources for infrastructure development both inside and outside IZs and ICs, particularly those located in key economic areas and among the province’s strategic projects.
In the process of attracting investment into IZs and ICs, priority should be given to large-scale industrial projects and reputable enterprises with effective production and business operations, especially those applying high technology in manufacturing, supporting industries, and electronics. Investment in industries serving agriculture and rural development is also encouraged. These efforts aim to strongly support the restructuring of the industry and handicraft sectors toward higher technological content, environmental friendliness, and enhanced added value and competitiveness of industries and products.
Over the past three years, the northern mountainous province of Hoa Binh has begun redefining its position on Vietnam’s service landscape with a series of distintive commercial models, from highland night markets, pedestrian-friendly streets, to logistics centres tied to local agricultural products.
Hoa Binh city has marked a significant step in sustainable forest management as nearly 1,450 hectares of its plantation forests have been granted Forest Stewardship Council (FSC) certification, an international standard required to access major wood markets such as the EU, the US, and Japan.
Construction on the Xuan Thien Hoa Binh lime and light powder factory in Yen Bong commune, Lac Thuy district - a key project of Hoa Binh province - started on April 24.
Hoa Binh city is transitioning to modern and sustainable agriculture by leveraging its natural advantages to efficiently develop crop cultivation and animal husbandry. The city is applying scientific and technical advancements to farming, processing, and distribution while expanding export markets, significantly increasing production value and incomes for farmers.
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.
