(HBO) - Hoa Binh City has so far attracted 14 direct foreign investment (FDI) and 160 domestic-funded projects worth over 276.8 million USD and 27.64 trillion VND (1.19 billion USD), respectively. Of the total, there are 72 projects in industry, 17 in tourism, 41 in service and trade, 16 in infrastructure – urban development, and eight in ore mining.
SMA VINA Viet-Han
Garment Import Export JSC based in Hoa Binh City’s Dan Chu ward creates
stable-income jobs for locals.
For a clear and transparent business climate, the municipal
Party Committee and People’s Committee has focused on urban planning,
administrative reform, and digital government building.
The second congress of the municipal Party organization, for
the 2020-2025 tenure, targeted turning the city into a 2nd level
urban area prior to 2025. As such, priorities for actions have been set to
include attracting investment from capable investors, speeding up the
completion of industrial infrastructure, creating favourable conditions for
business growth, and streamlining administrative procedures.
The city is also working to increase the occupation rates of
Yen Mong, Cham Mat – Dan Chu, and Tien Tien industrial clusters to 80, 100, and
50 percent, respectively./.
Being located more than 10 km from the center of Hoa Binh city, Sen Vang Organic Farm is in Dong Chua hamlet, Thong Nhat ward. This is an ideal destination for those who want to immerse themselves in the nature and find the peace after the hustle and bustle of life. With an area of over 60 hectares, the farm is systematically planned, harmoniously combining the wild natural landscape and diverse experience areas. Sen Vang chrysanthemum tea is produced from organic, completely natural ingredients.
In 2024, Hoa Binh province witnessed signs of economic recovery, particularly in investment attraction. Notably, several projects are showing good progress, indicating that the vitality of businesses is positively correlated with the overall economic recovery.
The 25th Party congress of the Lac Thuy district for the 2020-2025 term identified the development of industry, trade, and services as its top priorities to drive the shift of the economic structure towards increasing the proportion of industry and services while reducing the that of agriculture, thus contributing to creating a motivation for socio-economic development in the locality.
Hoa Binh HKK Knitting Co. Ltd., located in the Hoa Binh Left Bank Industrial Zone, employs nearly 500 local workers with an average monthly salary of 8 million VND (3,150 USD).
Maximizing local potential and advantages, Yen Tri commune in Yen Thuy district is actively promoting the cultivation of medicinal herbs and turning medicinal herbs into One Commune - One Product (OCOP) products.
Situated at the gateway to the Northwest, Hoa Binh province has a population of over 900,000, including about 540,000 of working age. It is home to 6,000 businesses and production facilities, providing employment for over 100,000 workers. The remaining workforce is engaged in informal jobs, works in enterprises outside the province, or contributes to agro-forestry-fisheries. Additionally, around 3,000 workers are employed abroad.
