(HBO) - Credit institutions in Hoa Binh province has actively implemented legal documents related to currency, credit and interest rate issued by the State and the State Bank to support those affected by the COVID-19 pandemic.
They also promoted the mobilisation of capital, and taken measures to expand
credit investment and strengthen the credit quality management, and priority
loan programmes.
BIDV staff in Phuong Lam branch (Hoa Binh
city) quickly implement transaction procedures for customers.
Banks and credit institutions have also paid attention to implementing solutions
on interest or fee exemptions and reductions for their customers that were
affected by the COVID-19 pandemic.
Accordingly, in the first quarter of 2021, 37 customers enjoyed interest reductions
or exemptions worth over 1 billion VND in total, while 628 others were given
loans totalling over 919 billion VND with preferential interest rate.
The VietnamBank for Social Policies’ chapter in Hoa Binh extendeddebtpayment deadlines for 37 borrowers
with total loans of 1.36 billion
VND, and provided loans worth 367 million VND with
the interest rate of zero percent for employers to pay salary for their employees
who had to stop working./.
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.
