(HBO) - According to a report of the provincial branch of Vietmam Bank for Social Policies (VBSP), the total outstanding loan for the poor household in the province has reached VND 875.5 billion by the end of January 2023.
The preferential loans have
helped the poor households in De hamlet, Bac Phong commune (Cao Phong) to invest
in livestock has gradually overcome the difficulties.
This is the program with the
largest credit scale among the credit programs that VBSP has been implementing.
In January 2023, there are 234 poor households allowing to get loans from this
credit program, and the loan turnover has reached over 11.5 billion VND. Up to
now, in the province there are over 20.4 thousand customers with the
outstanding loans.
According to the assessment of
the provincial branch of VBSP, the preferential loans from VBSP have helped the
poor households in the province invest in the economic development and improve
their quality of life in recent years. In 2022, there were over 6.2 thousand
turns of the poor households receiving the preferential loans. Along with other
credit programs, VBSP is lending to the poor households, which is an important
source of capital to achieve the goal of the sustainable poverty reduction,
ensuring the social security and building the new rural areas in the province.
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.
