(HBO) - Hoa Binh province's State budget collection reached 338 billion VND (14.7 million USD) in May, equivalent to 7 percent of the target set in the Resolution of the provincial People's Council, according to the provincial People's Committee.
The figure in the first 5 months of 2021 was estimated at 1.63
trillion VND (71.2 million USD), equal to 38 percent of the Prime Minister's
estimate and 32 percent of the target set in the Resolution of the provincial
People's Council.
Of which, domestic revenue was over 1.43 trillion VND (62.7 million USD), or 35
percent of the estimate by the Prime Minister and 30 percent of the target set
in the Resolution of the provincial People's Council. Revenue from imports and
exports was 199.5 billion VND (8.67 million USD), equal to 100 percent of the
PM estimate and 80 percent of the target set in the Resolution of the
provincial People's Council.
In addition, local budget revenue by the end of May was
estimated at more than 4.77 trillion VND (208 million USD), or 40 percent of
the Prime Minister's estimate and 38 percent of the target set in the
Resolution of the provincial People's Council.
Meanwhile,local budget spending in the five-month period reached 4,7
trillion VND (207 million USD), accounting for 40 percent of the Prime
Minister's estimate and 38 percent of the target set in the Resolution of the
provincial People's Council./.
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.
