(HBO) - In the first nine months of 2020, despite negative impact from the COVID-19 pandemic, Hoa Binh’s businesses progressed positively. The entire province recorded 285 newly registered firms, whose capital amounting to about 6.5 trillion VND (280.8 million USD), annual increases of 2.9 percent in the number of companies and 36.21 in registered value.
Overcoming pandemic-related difficulties, RNS garment
company in Hoa Binh city’s Thong Nhat ward has stablised its operation,
creating jobs.
In the period, 160 enterprises registered for their
establishment of branches and representative offices. Local authorities also
issued 1,305 updated business licences and revoked business licences of 156
firms. A total of 130 companies registered to temporarily stop
operation, and 28 others voluntarily dissolved, while 75 companies and 13
branches and representative offices resumed their business./.
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.
