(HBO) - According to a report of the provincial People’s Committee on developing enterprises, a total of 400 new enterprises were set up in Hoa Binh in 2019, with total registered capital of 4,500 billion VND. In comparison with last year, the number of new enterprises dropped by 4.8 percent but the amount of capital picked up 39.7 percent.
Besides, 54 firms applied to open branches and
representative offices in the province. The relevant agencies have amended and
supplemented 1,067 business licences.
The T&T
159 joint Stock Company invests in a workshop to process post-harvest
agricultural byproducts, contributing to enhancing the company’s production and
business performance.
During the year, many enterprises met with
difficulties in production and business. As a result, 29 firms were dissolved,
118 others temporarily suspended operation, and five had their business
licences revoked. Therefore, as of the end of 2019, Hoa Binh has an estimated
over 3,500 firms, with nearly 40,000 billion VND in total registered capital./.
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.
