(HBO) – State budget collection of Hoa Binh hit 1.03 trillion VND (44.11 million USD) in the first four months of 2020, according to the provincial People’s Committee.
Of the figure, domestic tax was 954.03 billion VND,
equivalent to 22 percent and 20 percent of the amount assigned by the Prime
Minister and the provincial People’s Council, respectively.
Some 261.2 billion VND were collected in April alone, or 5
percent of the target that set in the resolution of the provincial People’s
Council.
Besides, local budget collection is estimated to reach 4.33
trillion VND by the end of April, equal to 42 percent of the amount assigned by
the Prime Minister and 41 percent in the Resolution.
Of the total, the revenue it gets under regulations stood at
767.7 billion VND, the additionally balanced revenue from the central budget
was 3.13 trillion VND and the targeted additional revenue from the central
budget was 1.19 trillion 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.
