(HBO) - After the week-long 2023 Lunar New Year (Tet) holiday, almost all enterprises in Hoa Binh province have resumed their operation with a high determination to complete the set goals, contributing to the overall growth of the local economy.

Right after the Tet holiday, workers at SanKoh
Vietnam Co., Ltd at Left bank of Da River Industrial Park (Hoa Binh City)
return to work.
According to provincial authorities, as of January 30, the
majority of workers across the province had come back to their businesses and
factories. Many businesses offered transportation services for workers. Some in
Hoa Binh city and Luong Son district are in need of recruiting more experienced
and skilled workers.
To retain workers, over the past years, businesses in the province
have raised their salary, bonuses and allowances, improved working environment,
offered support in terms of train and car tickets for workers, and given lucky
money to them on the Tet occasion.
In 2022, thanks to efforts of the business community, the
province’s gross regional domestic product (GRDP) grew 9.03% to more than 32.68
trillion VND (1.39 billion USD).
The province attracted 75 domestic investment projects with
a total registered capital of about 35 trillion VND, 31 projects more than that
of the previous year.
In 2023, Hoa Binh will continue to create favourable
conditions to attract more investment and make more preferential policies to
facilitate businesses’ development, contributing to socio-economic growth as
well as ensuring social security. The province is striving for an economic
growth rate of 9%, and per capita GRDP of 70.9 million VND per year, state
budget revenue of 7.28 trillion VND, and labour productivity of 116.9 million
VND per worker.
To achieve the set economic goals, the province will
continue restructuring the economy, renewing the growth model, increasing
productivity, creating a driving force for rapid and sustainable economic
growth, improving the business and investment environment, supporting
enterprises, and attracting investment. Attention will also be paid to
promoting the development of socio-economic infrastructure and creating changes
in the industrial sector, and to key projects to promote economic restructuring
and growth model innovation./.
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.