(HBO) – The Hoa Binh provincial Steering Committee on Collective Economic Development on January 10 held a teleconference reviewing its 2021 activities. Vice-Chairman of the provincial People’s Committee and its head Dinh Cong Su chaired the event.
Photo: Vice Chairman of the provincial People’s Committee and head of the provincial Steering Committee on Collective Economic Development concludes the event.
As of December 31, 2021, the province was home to 454 cooperatives, up 7.5 percent annually; four people’s credit funds and 211 cooperative teams, up 6.5 percent. Last year, 67 new cooperatives were established, up 3.08 percent annually and 18 cooperative teams, up 20 percent. Two representative offices of the Vietnam Cooperative Union are managing markets in the province. Collective economic organisations attracted 15,200 members and 26,000 workers. Average revenue and profit of each cooperative reached 2.23 billion VND and 250 million VND, respectively while average income of workers stood at 4.16 million VND each month per person. In cooperative teams, their revenue averaged 220.14 million VND each and profit at 56.5 million VND. The gap between revenue and expenditure of people’s credit funds reached 5.73 billion VND. The total profit of collective economic organisations hit 132.37 billion VND, or 0.24 percent of the added value and 0.43 percent of the province’s gross regional domestic product. Revenue to the State budget was estimated at 5.083 trillion VND, equivalent to 0.1 percent of the province’s State budget collection. This year, the steering committee set 12 targets.
Speaking at the event, Vice Chairman Su stressed that in order to fulfil 2022 targets, the steering committees on collective economic development at the provincial and district level need to continue following the Party’s guidelines and State laws and policies on collective economy, disseminating policies and legal documents and improving the capacity of workforce in cooperatives. Further attention must be paid to the implementation of policies on support and incentives for cooperatives in line with the Government’s Decree No.193/2013/ND-CP dated November 21, 2013 regulating in details several articles of the Cooperatives Law, the strengthening of State management on collective economy, and pooling the involvement of social forces and mass organisations at home and abroad for the effort./.
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.
