(HBO) - Hoa Binh province is currently home to more than 900 enterprises and 30,000 households doing business in trade, services and tourism. Among them, nearly 3,000 companies have applied IT to transactions.
The Son Thuy JSC, based in Mong Hoa commune of Hoa Binh city, produces
film-coated plywood for export to the Republic of Korea, which has contributed
to the province’s export revenue.
Investors are always welcomed to the province to explore
business opportunities. So far, Hoa Binh has accommodated 565 projects,
including 40 foreign direct invested projects worth a combined 573.3 million
USD, and 525 domestic ones with a total registered capital of almost 71.40
trillion VND (3 billion USD).
Active international economic integration has
greatly helped to promote local industrial production since 2015. Some key
industries and the sectors Hoa Binh has strength in have sustained their
development. The industrial production value grows by 16.71 percent annually
while the index of industrial production rises by about 10.5 percent. Industry
has become the main export driving force, accounting for over 91 percent of the
province’s total overseas shipments.
Besides, the implementation of the agricultural
restructuring plan, which is meant to improve added value and achieve
sustainable development, has proved fruitful. The provincial People’s Committee
has ordered the agricultural sector to review and build development plans for
each of the key plants and animals so as to boost products’ competitiveness in
the integration period.
The enhanced economic restructuring has fueled
trading activities, thus raising export-import turnover and expanding markets.
Hoa Binh estimates its trade turnover at nearly 6.83 billion USD for the 2016 –
2020 period, including 3.28 billion USD in exports and 2.74 billion USD in
imports, respectively rising 30 percent and 27 percent.
Goods have been traded in various forms such as
direct export, entrusted export and export to non-tariff zones. Aside from
shipments to traditional markets like Southeast Asia, the Republic of Korea and
China, local businesses have also accessed demanding markets like Australia,
Canada, Japan and the EU.
Economic, cultural and social exchanges with
other countries have also become a focus of attention. Hoa Binh has signed 11
agreements and memoranda of understanding with foreign partners such as
Habitat, World Vision, Action on Poverty and AEA organisations; Marvin group,
KV Consulting Co. Ltd, Hanbaek Construction Co. Ltd; and Gimje city of
Jeollabuk province and Ulji district of Ulsan city (the Republic of Korea). The
province has also been effectively realising its commitments and agreements
signed with organisations, agencies and localities of Laos and Mongolia.
Over the past years, international economic
integration has strongly influenced local socio-economic development, helping
Hoa Binh increase per capita income and maintain GRDP growth which stood at
about 9.05 percent in 2019./.
After the Lunar New Year (Tet) holidays, trade union members and workers in Hoa Binh province returned to work with an excited spirit at the beginning of the new spring. Throughout the workshops, factories and enterprises, they were full of enthusiasm, immediately getting to work, striving to excellently complete tasks and production and business targets.
Red grapefruit is a native crop of Tan Lac district, where the fertile soil and favourable climate create ideal conditions for its growth. With over 80% of the area being mountainous, at an altitude of 300-400 metres above sea level, red grapefruits here thrive on well-drained, fertile hillside soil. The region’s large temperature variation between day and night enhances the fruit's nutrient absorption. The local cultivation techniques also contribute to its uniqueness
The provincial business association recently convened a conference to review its 2024 operations and outline plans for 2025. The meeting was attended by Standing Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Bui Duc Hinh along with leaders from various departments and agencies.
Hoa Binh province is prioritising rural transportation infrastructure to improve mobility, facilitate trade, and boost socio-economic development.
The Minister of Agriculture and Rural Development has just issued Decision No. 377/QD-BNN-VPĐP approving the results of the evaluation and classification of the products of the National One Commune One Product Program in 2024 (phase 3).
As the Lunar New Year (Tet) approaches, the market becomes more vibrant than ever. In Hoa Binh province, preparations for Tet have been bustling since the 20th of the last lunar month, with an abundant supply of goods to meet the growing consumer demand.
