(HBO) – Hoa Binh has been allocated over 3.39 trillion VND (148.26 million USD) in investment capital from the State budget 2022. The provincial People’s Council approved 4.19 trillion VND worth of public investment, of which 3.82 trillion VND has been allocated to projects.
The last items of the project on upgrading provincial road 432 are being completed. The operational sections have contributed to local socio-economic development.
Of the amount, 1.86 trillion
VND comes from the provincial budget balance, 798.9 billion VND from the extra
amount in local budget collection, 732.5 billion VND from the central budget,
and 422.6 billion VND worth of foreign investment.
The remaining 369.2 billion VND is expected to
be earmarked for projects under the socio-economic development scheme for
residential areas around Da River included in the mid-term investment plan for
2021-2025. Project to improve and upgrade provincial road
435 is being completed the last items by the construction unit. The route put
into operation has promoted socio-economic development of communes in Hoa Binh
lake area.
As of February 28, the province disbursed 518.8
billion VND worth of public investment, completing 15 percent of the target
assigned by the Prime Minister, and 14 percent of the amount already allocated
to projects.
As much as 453.7 billion VND from the provincial
budget balance had been disbursed, fulfilling 24 percent of the amount assigned
by the PM and 17 percent of the capital allocation for projects.
Meanwhile, 57.2 billion VND from domestic
central budget and 7.8 billion VND from foreign sources had been disbursed. /.
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.
