(HBO) - In 2021, the Party Committee and People's Committee
of Hoa Binh province focused on investment promotion activities, while
strengthening coordination in handling administrative procedures, implementing
many solutions to improve the business environment, and helping remove
difficulties for businesses and investors, especially those affected by the COVID-19
pandemic. As a result, the business and investment environment continued to be
improved while and investment attraction and development of businesses saw good
results.
In 2021, many businesses in the province made efforts to
overcome difficulties to promote production and business, and stabilise jobs
for workers. (Photo taken at Ho Guom Group’s Tan Lac branch garment factory).
In December, the whole province had 43 newly-established
enterprises with a registered capital of 820.7 billion VND, and four resumed
operations.
With this result, in 2021, 415 enterprises with a total
registered capital of 14.68 trillion VND were established, up 14 percent in the
number of firms and 15.9 percent in capital. During the year, nearly 130
enterprises registered to suspend production and business activities, 42
enterprises voluntarily dissolved, and 99 businesses returned to the market.
At present, Hoa Binh has about 4,180 operating enterprises
with a total registered capital of nearly 60 trillion VND./.
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.
