(HBO) – Since the start of this year, the State Bank of Vietnam (SBV)’s Branch in Hoa Binh province has actively implemented guidelines and policies of the Party, State and sectors for banks and credit institutions in the province, with focus placed on providing preferential credit to people and businesses hurt by the COVID-19 pandemic and expanding non-cash payment from 2022 – 2025.
Vietcombank’s branch
in Hoa Binh contributes to effectively boosting the local economic development.
Reports showed that Hoa Binh’s monetary market
remained fairly stable this year, with total capital mobilized by the end of
May totaling 35.55 trillion VND, up 6 percent from the end of last year. Over
28.13 trillion VND of which came from businesses and individuals, an increase
of 8 percent from the end of 2021.
According to statistics from the SBV Branch in
Hoa Binh, total outstanding loans in agriculture and rural development exceeded
15.78 trillion VND as of the end of May, accounting for 51 percent of the
total. Soft loans for small- and medium-sized enterprises reached over 7.03
trillion VND, making up 22.7 percent of the total; and that for exports and
supporting industry valued 22 billion VND.
In the coming time, Ngo Quang Loi, Deputy
Director of the SBV Branch in Hoa Binh, said it will continue focusing on
enforcing the State and Party’s related guidelines and policies, particularly
financial support packages under the government’s post-pandemic recovery
programme; and accelerate inspection over banks and credit institutions and
anti-corruption efforts.
It will also closely control credit provision in
high-risk sectors, such as investment, real estate, securities, BOT and BT
transport projects, and corporate bonds; and strictly monitor credit poured
into land use right auctions under the direction of the State Bank of Vietnam.
The SBV Branch has been urging the continued
provision of support for pandemic-hit enterprises to push for economic recovery
and the effective implementation of policy credit programmes, particularly for
the poor and policy beneficiaries. It also plans to promote digital transformation
and cashless payment over the next three years./.
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.
The Hoa Binh provincial People's Committee has issued Decision No. 2767/QD-UBND announcing the rankings of departments, agencies, districts and Hoa Binh city in the Public Administration Reform Index (PAR) and the Satisfaction Index of Public Administration Services (SIPAS) in 2024.
The cultivation of Dam Xanh fish (Bangana lemassoni), a unique fish species, has seen remarkable growth in Mai Chau district, thanks to its high economic value and effectiveness. Initially concentrated in Van Mai commune, farming has now extended to four other communes, namely Mai Hich, Mai Ha, Chieng Chau, and Son Thuy. These areas benefit from pristine underground water flowing from mountain crevices, providing ideal conditions for raising this specialty fish.
In 2024, the total state budget revenue of Hoa Binh Province is estimated at approximately VND 6,930 billion, achieving 183% of the Government’s target, 126% of the target assigned by the Provincial People's Council, and 145% compared to the same period last year.
In 2024, Hoa Binh province has shown signs of improvement in attracting investment and developing enterprises.
