(HBO) - According to the Q1 socio-economic report of the provincial People's Committee, the State budget revenue in March is estimated at 439.8 billion VND, equal to 9 percent of the target assigned in the provincial People's Council’s Resolution. The collection in the first three months is estimated at 902.5 billion VND, equivalent to 20 percent of the estimate assigned by the Prime Minister and 18 percent by the provincial People's Council.
Japanese-invested Sanko Vietnam Co., Ltd, in Huu Nghi ward of Hoa Binh
city generates jobs for workers, and well fulfills tax obligations.
Of the total, domestic revenue was 818.8 billion VND, equal
to 19 percent of the estimate assigned by the Prime Minister and equal to 17
percent of that set in the Resolution of the provincial People's Council, while
revenues from import and export were 83.7 billion VND, equal to 48 percent of
the estimate assigned by the Prime Minister and 38 percent in the Resolution.
Local budget collection in March is estimated at 2.15
trillion VND, equal to 17 percent of the target set in the provincial People's
Council’s Resolution, bringing the total in the first quarter of 2020 to 3.93
trillion VND, equivalent to 31 percent of the estimate assigned by the Prime
Minister, or 30 percent of that set in the Resolution. Of the total, the
additionally balanced revenue from the central budget was 1.37 trillion VND and
the targeted additional revenue from the central budget was 815.8 billion VND.
Local budget spending is estimated at 1.25 trillion VND in
March and 3.98 trillion VND in the first three months of 2020. Of the total,
development investment expenditure was 685.5 billion VND, regular spending was
2,412.2 billion VND and spending from the central budget’s targeted
supplementary resources was 885.8 billion VND./.
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.
