Hoa Binh works hard to attract more foreign investment inflows

12/26/2021 - 11:51:51 AM

(HBO) – Authorities of Hoa Binh province have worked hard on economic diplomacy, with the aim of attracting more foreign investment, thus creating a motivation for socio-economic development in the locality.

Sma Vina Viet-Han Garment Import-Export JSC (Hoa Binh city) has maintained stable production and business activities, helping create jobs for local labourers.

The local authorities have determined that cooperation and investment attraction play an important role in creating momentum for economic development. Therefore, they have been striving to introduce the province's potential and strengths to investors, towards attracting more investment in the locality, especially in prioritized projects.

Investment promotion programmes, plans for trade promotion, and solutions to improve business and investment environment and competitiveness of the locality have been implemented annually.

Hoa Binh is now home to 642 investment projects, including 39 foreign-invested projects worth 620 million USD, and 585 domestic ones totaling nearly 119.5 trillion VND.

Foreign investment projects are mainly in industrial production; and service, trade and tourism, accounting for about 78 percent and 19.5 percent of the total number of projects, respectively.

As many as 102 investment projects have been so far licensed to operate in local industrial parks, including 27 foreign direct investment projects with total registered capital of 527.35 million USD, and 75 domestic investment projects worth over 11 trillion VND.

The locality has also worked hard to lure official development assistance (ODA) capital. In the 2010 - 2020 period, 24 programmes and projects using ODA capital, with a total investment of 6.46 trillion VND, focusing on the fields of transport, urban and rural infrastructure development, health care, education, irrigation, and poverty reduction, were implemented in Hoa Binh.

Regarding foreign non-governmental aid, the province implemented 227 programmes and projects, and disbursed 21 non-project grants with a total committed value of 51.7 million USD in the period 2010 - 2020. The locality received an average 2.8 million USD each year.

Investment projects have significantly contributed to the locality’s socio-economic development, helping create more jobs for labourers and increase revenues for the State budget.

With its policy of promoting selective cooperation and investment attraction, the local authorities have resolutely refused projects using outdated technologies and those showing signs of commercial fraud.

The local authorities have created the best possible conditions for investors, and focused on improving its business and investment environment and the provincial competitiveness index, enhancing investment promotion activities, and accelerating administrative reform in order to remove difficulties facing enterprises and investors operating in the locality.

Attention has been also paid to synchronously developing technical infrastructure and improving the quality of human resources to meet the demand of foreign investors.

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Hoa Binh city is transitioning to modern and sustainable agriculture by leveraging its natural advantages to efficiently develop crop cultivation and animal husbandry. The city is applying scientific and technical advancements to farming, processing, and distribution while expanding export markets, significantly increasing production value and incomes for farmers.

Hoa Binh’s economy expands 12.67% in Q1

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%.

Lac Thuy district advances agriculture in tandem with new-style countryside development

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.

“A 4.0-Era Farmer Championing Green Agriculture”

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.

Rich and Flavorful Honey of Dao Village

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.

Lac Thuy district prioritises resources for industrial, handicraft development

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.