(HBO) – Amid complicated developments in the world and domestic economic situations, Hoa Binh province has been implementing many solutions, creating favourable conditions and gradually ensuring the sustainable development of the business community and entrepreneurs.
Bui
Van Khanh, Deputy Secretary of the Hoa Binh Provincial Party Committee,
Chairman of the provincial People's Committee and other leaders of agencies
visit CAP Global Co. Ltd. at Luong Son Industrial Park
There were 4,296 enterprises in the province by the end of last
year. Half of them (2,143 enterprises) were engaged in the industry and
construction sectors. Commercial and service firms (1,679) accounted for 39.1%
while agricultural, forestry and fishery enterprises (312) made up 7.3%. Those
of other sectors accounted for 3.8%. These businesses have contributed to
helping thousands of people have stable jobs. Most of the enterprises are small- and micro-sized enterprises. They contribute
over 2.3 trillion VND (97.3 million USD) to the State budget per year.
In addition to limitations related to the scientific and technical level,
enterprises also faced many hurdles as the consumption market has not improved
much. It is still difficult for them to implement some supporting mechanisms
and policies of the Government.
Slow administrative reform in the fields of investment, construction and land
has caused many businesses to miss their investment opportunities, while others
have faced difficulties relating to land compensation and site clearance.
A lot of leaders of enterprises haven’t undergone training relating to
financial and human resource management, marketing and business strategy
building. Some investors still lack financial capacity and do not have high
responsibility for the projects' implementation.
To facilitate enterprises’ performance, in the coming time, Hoa Binh will
continue to adopt solutions to improve the provincial competitiveness index,
focusing on attracting investment. It will promote the development of infrastructure, especially in the field of
transport as well as the establishment of new businesses with credit and tax
incentives.
Administrative procedure reform will be sped up along with the application of
information technology in management. Commercial banks will be asked to handle shortcomings, especially bad debts so
that businesses can access loans and generate jobs.
Hoa Binh will strengthen the management of basic construction investment,
accelerate the disbursement of investment capital for projects which are funded
by the State budget and national target programmes, and contribute to
increasing the sales of construction materials produced 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.
