(HBO) – At the end of 2018, industrial parks in the northwestern province of Hoa Binh were home to 87 projects, including 23 foreign direct investment (FDI) ones with a combined registered capital totalling 605.4 million USD and 64 domestic projects capitalised at 7.25 trillion VND (312.9 million USD).
Currently, 16 out of the 23
FDI projects are operating well.
The Transon company in the Luong Son Industrial Park generates
jobs for 1,000 workers.
In 2018, FDI projects
earned about 614 million USD in revenue and 596 million USD in exports, and created
stable jobs for 15,700 labourers. Meanwhile, their import values stood at 502
million USD and the projects contributed 4.33 million USD to the State budget.
All figures recorded surges of 110-126 percent year-on-year.
Hoa Binh province has
launched solutions to address difficulties in production and , as well as
provided refresher courses for local workers. The province also bolsters
infrastructure investment and prepares land to attract investment and support
prompt and efficient operation of businesses, thereby contributing to stable
job creation, State budget collection and sustainable economic restructuring of
the locality./.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
Hoa Binh province has mobilised all resources to propel local agricultural products to make inroads into foreign markets, towards lifting the export turnover of key agricultural products to 137.8 million USD by 2030, accounting for 3.4% of the locality’s total export value of goods.
The locality aims to export farm produce to the US, the European Union, the UK, China, Japan, and the Republic of Korea.