(HBO) – The People’s Committee of Hoa Binh province gave in-principle approval to two domestic projects with total investment of 1.1 trillion VND, and adopted capital adjustment for two others in January 2022.
The locality is now home to 39 foreign-invested projects worth
616.4 million USD, and 617 domestic ones with total registered capital of 125
trillion VND.
Businesses operating in Hoa Binh have worked hard to resume production
activities in the direction of safe and flexibleadaptation. The
photo has been taken atAn Phuc Export Garment joint Stock Company in Yen
Thuy district.
In the month, Hoa Binh recorded 40 newly-established enterprises which
registered a total capital ofover 1.41 trillion VND.
The province also made amendments to business registration certificates for 283
companies. As many as 72 firms temporarily suspended production and business,
while 24 voluntarily dissolved, and four returned to the market.
The provincial Party Committee and People’s Committee have focused on directing
the implementation of measures to remove difficulties facing local businesses,
especially those specializing in industries that have been affected by the
COVID-19 pandemic.
Attention has been paid to improving the business and investment environment,
and the competitiveness of the locality in 2022./.
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.
