(HBO) – The State Bank of Vietnam’s branch in Hoa Binh has mapped out orientations to direct banks and credit organisations in the northern province to implement key tasks in the field, thus realising the sector’s main monetary targets and contributing to local stability and economic growth.
LienVietPostBank
currently records outstanding loans of over 1.2 trillion VND.
By the end of 2019, the total operation capital of credit institutions in the
province exceeded 26.5 trillion VND, a year-on-year rise of 13.4 percent. Total
outstanding loans in the province surpassed 22.9 trillion VND, up 9.1 percent
against the previous year. Of which, short-term loans accounted for 42.1 percent,
medium-and long-term ones 57.9 percent.
Banks and credit institutions, especially commercial
banks, all saw an increase in outstanding loans, notably joint Stock Commercial
Bank for Investment and Development of Vietnam (BIDV) 13.8 percent, Vietnam joint
Stock Commercial Bank for Industry and Trade (Viettinbank) 8.2 percent,
Military Commercial joint Stock Bank (MB) 17 percent, Lien Viet Post joint
Stock Commercial Bank (LienVietPostBank) 7.3 percent, and Vietnam Prosperity
joint Stock Commercial Bank (VPBank) 1.8 percent.
In 2019, the total bad debts were estimated at
258 billion VND, making up 1.12 percent of the total outstanding debts, down
157 billion VND compared to 2018.
Banks and credit organisations have worked out
measures to remove difficulties for businesses and pay attention to investment
in local economic development. They have also actively carried out preferential
credit programmes and provided loans for poor households and social welfare
beneficiaries in prioritising fields as directed by the State Bank of Vietnam such as
rural and agriculture.
In 2020, the provincial State Bank of Vietnam branch
strives to increase the mobilisation of capital by 16 percent or more. Outstanding
loans are estimated to climb by 14 percent while the ratio of bad debts below 3
percent./.
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.
Amid efforts to streamline the administrative apparatus, Hoa Binh province has intensified measures to address challenges in land clearance, resettlement support, and infrastructure investment, aiming to speed up the progress of key projects.
Hoa Binh province has posted an unprecedented economic growth rate of 12.76% in the first quarter of 2025, marking its highest quarterly performance to date and positioning it as the second fastest-growing locality in the country, trailing only Bac Giang province.
Under current regulations, products in the One Commune – One Product (OCOP) programme that are rated three stars or higher must undergo re-evaluation every three months. However, in reality, some of these products fail to consistently meet the required standards, raising concerns about the sustainability of their OCOP certification. This underscores the urgent need for producers to enhance product quality and gradually develop their OCOP products into strong, marketable brands.
