(HBO) – Land use levy accounts for the lion’s share of Hoa Binh province’s state budget revenue for years. The money has been used to develop local infrastructure, creating a momentum for socio-economic development.
Revenue from land auction is invested in developing the central area of Quynh Lam ward, Hoa Binh city.
In recent years, competent sectors and departments in Hoa Binh city have paid special attention to the collection of land use levy. Right from the outset of the year, the taxation bureau has joined hands with relevant authorities, districts and city to manage this source of revenue.
This year, the taxation bureau of Hoa Binh is assigned by the Government to collect 1.5 trillion VND (65 million USD) in land use levy. Meanwhile, the figure set by the provincial People’s Council was 1.7 trillion VND.
With 101 projects operating in the locality, Hoa Binh projects to gain more than 4.4 trillion VND from land use levy.
According to Nguyen Anh Tuan, deputy head of the province’s taxation bureau, as of April 30, domestic collection was over 1.14 trillion VND, accounting for 27.6 percent of the yearly estimate approved by the National Assembly, 23.8 percent of estimate adopted by the provincial People’s Council, and 121.3 percent of the figure recorded in the same time last year.
In May, the province gained some 52.3 billion VND from land use levy, or 304 percent of the figure documented in the same time in 2020./.
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.
