(HBO) - According to the Hoa Binh Provincial People’s Committee, the province did not experience hike in prices of essential goods in February despite of the new coronavirus outbreak (COVID-19).
However, the
complex developments of the
outbreak has had substantial impact on local trade and services. Total retail
sales of goods and services in the province last month were estimated at 2.75
trillion VND, down 12.42 percent from January, equivelant to 15.63 percent of
the yearly plan.
The number of visitors to Vincom Shopping Mall in
Hoa Binh city has declined in comparison to the time before the
COVID-19 outbreak occurs.
The February
Consumer Price Index (CPI) was down 0.12 percent month-on-month as people avoid shopping at crowded places. The
number of visitors to local supermarkets, shopping malls and shops plunged 20 –
30 percent with 5 – 10 percent decrease in purchasing power. Weakening tourism
and hospitality services are said to be hampering the province’s economic
growth./.
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.
