(HBO) - Hoa Binh’s industrial production index in August 2023 increased by 17.65% compared to the previous month, but declined by 10.08% year-on-year, the provincial Statistics Office has reported.
Hoa Binh HKK Knitting Co., Ltd is one of the foreign-invested enterprises that are investing in the Da River Left Bank Industrial Park in Hoa Binh city. Its production activities generate jobs for over 500 labourers.
Of the figure, the mining industry saw a decline of 6.12% compared to July, but surged by 53.91% over the same period last year. The manufacturing and processing industry's index rose by 6.86% from the previous month, and 4.86% over the same period last year. Meanwhile, the index of the water supply industry was up 4.73% month-on-month, but fell by 11.5% year-on-year.
The decrease in the industrial production index in August compared to the same period last year was attributable to the prolonged drought this year, with its peak occurring in June and July, which caused the lack of water for electricity production.
Electricity production in the month reached an estimated 940 million KWh, up 201 million KWh or 27.23% compared to that reported in July, but down 206 million KWh or 17.9% from the same month of 2022.
The locality’s electricity production in the first eight months of 2023 was estimated to reach 5,395 million kWh, a decrease of 1,974 million kWh or 26.7% year-on-year.
The One Commune One Product (OCOP) programme has helped encourage active labour among farmers, increasing production and creating high-quality products. In response to the programme, farmers in Phu Cuong commune, Tan Lac district, are working on their local sweet potato branding and forming a concentrated production area for better income and economic development.
Measures have been taken in Hung Thi commune, Lac Thuy district to eliminate hunger, reduce poverty and increase the income of residents. Currently, the commune has an average income of 51.1 million VND ($2,120 USD) per capita per year and its poverty rate is just 18%.
A delegation from Sao Do (Red Star) Entrepreneurs’ Club led by its President Nguyen Canh Hong has visited Hoa Binh to explore investment opportunities in the province.
Over the years, businesses located in local industrial parks (IP) have operated stably, completing and exceeding their plan and enjoying growth in revenue, export revenue and State budget payment, while contributing to creating jobs for local labourers.
In the cause of sustainable poverty reduction, the State’s supporting policies are considered a powerful lever to help poor and near-poor households escape poverty in Hoa Binh province. Over the past years, the Party committee and authorities of Tan My commune (Lac Son district) have always paid attention to and focused on implementing sustainable poverty reduction. Their efforts have produced positive results.