(HBO) - The COVID-19 pandemic and long-lasting water shortage at reservoirs are hampering Hoa Binh province’s State budget collection.
Over the past years, Son Thuy joint Stock Company in
Hoa Binh city’s Mong Hoa commune has stood out in production-business and State
budget collection.
In July, State budget collection is
estimated at 465.1 billion VND, equal to just 9 percent of the target signed by
the provincial People’s Council. It is estimated to reach 1.87 trillion VND in
the first seven months of 2020, of which domestic collection reached 1.738
trillion VND, equivalent to 41 percent of estimates assigned by the Prime
Minister and 36 percent of the target set in the provincial People’s Council
resolution.
Collection from import-export activities is
estimated at 135.5 billion USD, equal to 75 percent of estimates assigned by
the Prime Minister and 62 percent of the target set in the provincial People’s
Council resolution.
In addition, local budget collection is
estimated at 8 trillion VND during January-July, equal to 75 percent of
estimates assigned by the Prime Minister and 62 percent of the target set in
the provincial People’s Council resolution./.
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.
