(HBO) - Over the past years, the Party Committee and People’s Committee of Hoa Binh province have rolled out many solutions to support the private economic sector, contributing to the renewal process and socio-economic development in the locality.
SMA Vina Viet-Han
Garment Import-Export Co. in Dan Chu ward, Hoa Binh city, has generated jobs
for many local labourers.
Hoa
Binh province has paid attention to improving the local business environment
and removing barriers hindering the development of the private economic sector.
The
provincial Party Committee and People’s Committee have instructed departments,
agencies and localities to regularly review administrative procedures relating
to investment, construction, land and business registration.
In
addition, the local tax sector has maintained online tax declarations and
payments and reduced overlapping inspections.
Local
departments and agencies have frequently provided updates on administrative
procedures at public administrative service centres, offices and websites,
making it easier for organisations, individuals and businesses to access
information.
Over
the past five years, Hoa Binh attracted 284 projects with total registered
capital of nearly 48 trillion VND (2.07 billion USD), including 17 foreign
direct investment (FDI) projects worth 275.7 million USD.
Local
industrial parks now accommodate 96 projects, with 25 FDI projects valued at
539.47 million USD and 71 domestic projects worth nearly 7.39 trillion VND. As
many 60 projects have been put into operation, creating jobs for nearly 19,800
labourers.
There
are 2,100 newly-registered firms with combined capital of 30 trillion VND and
34,000 household businesses. Hoa Binh province has encouraged eligible
households to transform themselves into enterprises./.
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.
