(HBO) – Since the year’s beginning, the banking sector in Hoa Binh province has taken various financial and credit-related measures to meet local development demand, thereby actively contributing to the realisation of the twin targets of containing COVID-19 and boosting socio-economic recovery and development.
The Hoa Binh branch of Agribank has applied COVID-19
prevention and control measures to its operations.
Deputy Director of the State Bank of Vietnam
(SBV)’s provincial branch Ngo Quang Loi said due to the COVID-19 impact, the
local economy has yet to gained good growth while enterprises have still
encountered certain difficulties since the year’s beginning.
Facing that fact, the provincial SBV branch has
been taking solutions to assist businesses to improve their competitiveness and
help improve the local investment and business climate.
In the time ahead, the branch will order the
continued implementation of COVID-19 prevention and control measures,
coordinate with relevant departments and sectors to have a good grasp of the
production and business situation, and keep a close watch on the pandemic’s
developments so as to effectively carry out appropriate measures for support
businesses and people, Loi said.
Besides, it will work to better the business
environment in the fields within its remit so as to help improve Hoa Binh
province’s competitiveness, he went on.
Meanwhile, credit organisations will press on
with measures removing difficulties that face the borrowers hit by the
pandemic, provide timely and sufficient capital for feasible projects and
business plans, and prioritise loans for agriculture, rural development, along
with the programmes benefiting from preferential credit as identified by the
Government.
Communications about cashless payment will also
be increased so as to encourage clients to use e-banking services.
The SBV branch in Hoa Binh will also urge
tightened control over credit for high-risk areas like real estate and securities
while enhancing risk management over loans for consumption and high-risk
transactions./.
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.
