(HBO) - According to a report of the Department of Statistics, by the end of May 2023, the state budget revenue in the province is estimated at 1,636,205 million VND, decreasing 8.72% compared to that of the same period last year.
In which, the domestic revenue is estimated at
1,544,069 million VND, decreasing 6.05% compared to that of the same period
last year; the import-export income is estimated at 92,136 million VND,
decreasing 48.86% compared to that of the same period last year.
In addition, the estimated local budget revenue
reached 9,117,445 million VND, increasing 46.95% compared to that of the same
period last year, which equals to 46% of the estimate assigned by the
Government and 42 % of the target assigned by the Provincial People's Council.
In which, the regulatory revenue entitled according to decentralization is
1,439,468 million VND; the balanced additional revenue from the central budget
is 3,228,153 million dongs; the source transfer revenue is 1,184,303 million
dongs.
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.
