(HBO) -Statistics from State Bank of Vietnam - Hoa Binh province branch showed that as of June 30, the total capital mobilised by credit institutions in the locality reached 26.9 trillion VND, up 2.5 percent compared to that at the end of 2019.
BIDV – Hoa Binh branch well conducts capital
mobilisation, thus meeting demand for loans in service of socio-economic
development.
Of the total, the capital mobilised from
economic organisations and local residents surpassed 19.4 trillion VND, up 7.8
percent.
Although the COVID-19 pandemic is having
huge impact on production and business activities, total credit balance reached
23.3 trillion VND, up 1.5 percent against that on December 31, 2019. Of the total,
policy credit balance was 3.18 trillion VND, accounting for 14 percent. Bad
debts of local credit institutions were valued at 184 billion USD, or 0.81
percent of of total credit balance./.
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.
