(HBO) - Hoa Binh province has worked to step up economic integration, improve business climate in a bid to increase strength and capitalise on favourable conditions to expand markets and make breakthroughs in sustainable development
Over the years, due attention has been paid to communications on
foreign policies and international integration of the Party and State
as well as the province’s achievements in socio-economic development and
culture, thus contributing to drawing foreign organisations and firms to
explore investment and business opportunities in the locality.
Esquel garment-textile company located at the Luong
Son industrial park greatly contributes to the province’s export revenue.
The province has issued numerous programmes and plans on the implementation of
free trade agreements (FTA) with links to the Comprehensive and Progressive
Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam FTA (EVFTA) and
other important documents on external relations.
The provincial People’s Committee has devised plans on legal support for
businesses, arranged programmes and events on legal issues and contents of Law
on Investment and the revised Law on Enterprises.
It has also built a database and sent officials to relevant agencies to help
with legal support and consultation in business operations for firms and
individuals.
To improve the investment climate, the Hoa Binh People’s Committee holds
regular meetings with firms, co-operatives, dialogues with businesses and
investors of projects with huge influence on the provincial socio-economic
development so as to address their difficulties.
The province is now home to 49 export-import firms, including 26
foreign-invested ones.
To increase exports-imports, the People’s Committee has paid heed to market
development and trade promotions; completed policies on trade, finance, credit
and investment in export items; and sought to identify a list of commodities of
potential and competitive edge.
In the 2016-20, the province enjoyed a constant rise with an annual average
growth rate of 28.5 percent.
Export revenue in the first six months was estimated to near 578.88 million
USD, a year-on-year surge of 29.64 percent.
The province imported goods worth 104.98 million USD in the period, up 25.7
percent from the same period last year./.
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.
