(HBO) - In order to create favorable conditions for the private economy to develop and encourage the development of businesses, from 2018 to 2020, the People's Committee of Hoa Binh province directed the implementation of the Law on Supporting Small and Medium Enterprises (SMEs) and applied mechanisms and policies to promote efficient operations of enterprises, thereby improving the local business and investment environment.
Ho Guom Group's
garment factory in Tan Lac district enjoys the tax support policy of the
province, helping it to overcome difficulties.
In recent years, enterprises in the province
have grown in both quantity and quality. Every year, the number of newly
established enterprises increases. By the end of 2020, the province had 3,770
enterprises with a total registered capital of more than 47 trillion VND (2.05
billion USD). Of which, there are 3,527 SMEs, accounting for over 97 percent of
the total number of enterprises with registered capital of nearly 31.5 trillion
VND.
In order to effectively implement the Law on
Support for SMEs, the provincial People's Committee issued Plan No.
158/KH-UBND, dated December 6, 2018 on supporting SMEs in the province. The
plan specifies solutions, mechanisms, preferential policies for the SMEs and
assigns specific tasks to departments, agencies, sectors and localities to help
develop and support SMEs.
With the participation of administrations at all
levels and sectors, it has created a driving force to help businesses thrive.
Accordingly, the provincial People's Committee has urged localities to promote
technological assistance by guiding enterprises to apply management systems,
productivity improvement tools. The province also provides supports for
enterprises to implement origin traceability systems, apply good agricultural
practices, and develop organic agricultural production.
According to data released by the Department of
Planning and Investment, by 2020, the total revenue of SMEs in the province is
estimated at 49.6 trillion VND (2.16 billion USD) with the average income of
employees is from 4.5 to 6.5 million VND per month./.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
Hoa Binh province has mobilised all resources to propel local agricultural products to make inroads into foreign markets, towards lifting the export turnover of key agricultural products to 137.8 million USD by 2030, accounting for 3.4% of the locality’s total export value of goods.
The locality aims to export farm produce to the US, the European Union, the UK, China, Japan, and the Republic of Korea.
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