In 2025, Hoa Binh’s banking sector will focus on providing capital to drive production and business activities. Credit institutions in the province are committed to meeting the loan demands of businesses and individuals, fostering economic growth.
Vietinbank branch in Hoa Binh effectively introduces credit packages to
customers.
Agribank’s Hoa Binh branch has launched preferential credit programmes, contributing to a nationwide funding package of 110 trillion VND (over 4.3 billion USD). This includes 70 trillion VND for production and business activities loans at a competitive 4.5% annual interest rate, 30 trillion VND for personal needs, and 10 trillion VND for green credit projects at 3.5% per year, targeting eco-friendly and organic agricultural initiatives.
According to Nguyen Huu Thang, Deputy Director of Agribank’s Hoa Binh branch, the programmes offer attractive rates and streamlined procedures to enhance financial access. With 12 branches and 29 transaction points, Agribank Hoa Binh surpassed its 2024 business targets, contributing to regional monetary stability.
Other financial institutions in the province are also rolling out preferential credit programs to support business recovery and expansion. The sector aims for 16% credit growth in 2025, with Hoa Binh targeting at least 12%, focusing on agriculture, enterprises, and collective economic models.
In 2024, the banking sector successfully implemented debt restructuring and preferential credit policies, leading to a 0.2–2% drop in lending interest rates compared to late 2023. Credit outstanding increased by over 2.83 trillion VND, supporting the province’s 9% GRDP growth.
Moving forward, the banking sector will continue facilitating access to capital, ensuring sustainable credit growth aligned with Hoa Binh’s economic development goals.
According to the provincial branch of the Vietnam Bank for Social Policies (VBSP), in January 2025, the entire branch disbursed loans under 11 key policy credit programs. The loan disbursement amounted to 204.1 billion VND, benefiting 3,369 poor households and other policy beneficiaries. Among this, over 16 billion VND was disbursed to the poor households, more than 17 billion VND to near-poor households, and over 14.6 billion VND to households that have recently escaped poverty. The program with the highest disbursement was the employment solution program, with nearly 29 billion VND loaned to 1,271 customers.
Hoa Binh province is home to 11 recognised traditional craft villages which have played a crucial role in increasing income, improving living conditions, and driving economic growth in rural areas.
Over the years, Kim Boi district's social security sector has continuously innovated and adopted digital technology to improve its services. Marking its 30th anniversary (1995-2025), the sector has made significant strides in strengthening the social security system.
The year 2025 holds significant importance as a time for acceleration, breakthroughs, and completion of 2021-2025 socio-economic development targets to enter a new era of growth. Building on the socio-economic successes of 2024, Hoa Binh has seen a good start for 2025 with key projects kicked off, State budget revenues surging, retail sales and service revenues rising, investment attraction increasing, and the well-being of local people prioritised.
Following the Lunar New Year holiday, supermarkets, traditional markets, and most businesses across Hoa Binh province have resumed operations. According to relevant authorities, the supply of goods remains abundant, with stable prices meeting consumers' demand.
According to the Department of Statistics of Hoa Binh Province, in January 2025, industrial production in the province changed positively. The province's industrial production index increased by 4.44% compared to December 2024, up 2.82% over the same period last year. Notably, the electricity production and distribution industry grew strongly, ensuring the demand for electricity during Tet.
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