(HBO) – A joint venture project to implement "a green hydro power ship” in Hoa Binh province between Vietnam and the Republic of Korea (RoK) has been signed in Hanoi, with representatives of the RoK Government and relevant agencies of Vietnam in attendance.
The signing ceremony between the two power companies of
Vietnam and the RoK
The floating
power production project is to provide environmentally-friendly energy using new
technology. Under the agreement on the project, the joint venture company will
invest nearly 50 million USD to install 20 sets of the floating power generation
system with a total capacity of 20 MV.
The company will ask for permission from authorities of Hoa Binh province and
relevant Vietnamese agencies conduct surveys and carry out the project in the
lower part of the Hoa Binh hydro power plant stretching to areas contiguous to Phu
Tho province and Hanoi. Once launched in early 2018, the company will complete
the installation of first horizontal turbines a capacity of 1 MV for the floating
power generation system and begin generating electricity on the occasion of the
National Day (September 2).
Directors of the two green power
companies hand over the signed documents to each other, as witnessed by
participants.
According to specialised agencies’ assessments, hydro power using the floating
power generation system is more efficient than the traditional method due to
the river’s flow will not be changed, opening up opportunities to maximise huge
water resources of Vietnam’s river systems. It is also in line with the Party
and State’s policy on clean and sustainable electricity development.
The green power joint venture also holds a great importance on the occasion of the
25th anniversary of Vietnam-RoK diplomatic relations, and affirmed efforts of
the two countries’ businesses in a series of event celebrating the APEC
Economic Leaders’ Week in Vietnam
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.
