(HBO) - Despite various challenges in 2021, registered investment saw a remarkable increase in projects’ capital. Projects commencing operation are on the rise, while those with delays or failures in implementation have been screened for withdrawal. Business environment in the province shows increasing improvements.

Enterprises
in Luong Son industrial park adopted safe adjustments to the "new normal”.Photo
taken at Midori Apparel Viet Nam Hoa Binh Company Limited.
The Provincial People’s Committee
has issued several documents in directing the improvement of the businessenvironment and boosting competitiveness of the province. Notably, a directive
was promulgated to implement the government’s Resolution No.02/NQ-CP 2021 in
further improving the business environment and national competitiveness. This
directive assigned concrete work to subordinate agencies in order to improve
Provincial Competitiveness Index (PCI). The Committee set up a group working on
investment projects of critical importance or utilizing extra-budgetary funds,
a special group tackling difficulties for enterprises, cooperatives and people
affected by the pandemic COVID-19. A commission was established to ensure
recovery of industrial production in the light of measures to contain the
pandemic.
Improvements in the businessenvironment have brought positive signs of investment attraction in 2021, said
Nguyen Van Phuc, Director of the Department of
Planning and Investment. 44 new projects were approved. Among those 29 projects
with total investment of 32,920 billion VND, 7 projects with total investment
of 1,029 billion VND, 8 projects with total investment of around 300 billion
VND were recommended by the Department of
Planning, and Investment, Department of Commerce and Industry, Industrial park
management board, respectively.
The Provincial People’s Committee
has instructed relevant agencies to closely supervise the projects in order to
timely remove obstacles or withdraw those far behind committed schedule or no
longer feasible. 41 projects were terminated, 3 others halted due to violations
of the Investment Law.
The Committee has focused on solutions to improve business environment and
investment attraction, including: improving efficiency of state agencies in
investment attraction; enhancing collaboration among relevant agencies of all
sectors and levels to smoothly complete administrative procedures, namely
investment approval, land-use certificate granting, construction, etc. The
Committee also decided to adopt the Districtand Department Competitiveness Index (DDCI) and conduct an annual survey for satisfaction level of businesses and people
with state management agencies, with a view to achieve a rating of above 95%./.
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.