(HBO) - According to the State Bank of Vietnam (SBV)’s Hoa Binh provincial branch, the total capital mobilised in the locality by the end of February 2023 by credit institutions neared 40.6 trillion VND (about 1.73 billion USD), up 0.9% compared to the beginning of the year, in which the amount mobilised from organisations and individuals was 30.5 trillion VND , up 1.3%, and deposits from individuals topped 72.5% of the total mobilised capital.
VietinBank’s
Banch in Hoa Binh province works to attract deposits to meet demand for loans
in the locality.
Credit institutions in the province have offered interest rates
from 0.1-1% per year for less-than-a-month deposits. With deposits from 1 month
to less than 6 months, the interest rates are set at 4.6 to 6.0% a year at
commercial banks and from 3.5 to 5.6% a year at people's credit funds.
For
deposits determined by market supply and demand with a term of 6 to 12 months,
commercial banks have set interest rates from 6-8.6%; from 4-7.5% a year
at people’s credit funds; with a term from 12 months and above, interest rates
are set from 7.4-8.9% a year at commercial banks and from 6.2-7.8% a year
at people’s credit funds.
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.
