(HBO) – Hoa Binh province’s State budget collection reached more than 1.09 trillion VND (47.6 million USD) in the first two months of 2022, up 60.4 percent year on year and equal to 17.1 percent of the target set by the provincial People’s Council for the entire year.
Of the
sum, budget collection from imports and exports is estimated at 91.4 billion
VND and domestic revenue at over 1 trillion VND.
Hai Hien Bamboo and Wood JSC at Mong Hoa Industrial Park in Hoa Binh
city promotes production and business, actively contributing to the province's
import-export revenue.
The provincial steering committee for the state budget collection said despite
the socio-economic impact of COVID-19, the state budget revenue grew well in
January and February.
It attributed the outcome to a number of firms having more taxes to pay for.
The committee requested agencies and authorities involved coordinate to support
tax payers in recovering their production and business activities and
strengthen budget collection management right from the beginning of the year so
as to achieve the set goals./.
In recent times, Hoa Binh province has shown its determination and high sense of responsibility in seriously implementing the directives of the Party Central Committee and its Politburo and Secretariat regarding the streamlining of the political system’s organisational apparatus and the development of a two-level local administration system. The aim is to build a commune-level administration that is close to the people, attentive to their needs, and capable of quickly responding to the demands of both businesses and citizens, while also opening up new development spaces.
Over the past three years, the northern mountainous province of Hoa Binh has begun redefining its position on Vietnam’s service landscape with a series of distintive commercial models, from highland night markets, pedestrian-friendly streets, to logistics centres tied to local agricultural products.
Hoa Binh city has marked a significant step in sustainable forest management as nearly 1,450 hectares of its plantation forests have been granted Forest Stewardship Council (FSC) certification, an international standard required to access major wood markets such as the EU, the US, and Japan.
Construction on the Xuan Thien Hoa Binh lime and light powder factory in Yen Bong commune, Lac Thuy district - a key project of Hoa Binh province - started on April 24.
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 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%.
