(HBO) – Luong Son Industrial Park, with its favourable location and complete infrastructure system, has been a bright spot in domestic and foreign investment attraction, making important contributions to the sustainable transformation of the economic structure in Luong Son.
Esquel Vietnam Ltd in Luong Son IP has created jobs for about 5,000 labourers.
Among the successful enterprises in Luong Son IP is Japanese-funded Nissin Manufacturing Vietnam Ltd., which was established in 2012 to produce motorbike spare parts for Yamaha Motor Vietnam.
Nissin Manufacturing Vietnam’s Administrative Director ShingoTanaka said that since the firm was put into operation, it has received great support from the local administration. In 2021, the firm’s revenue reached 459 billion VND (19.75 million USD), creating jobs for more than 200 labourers, he said.
Meanwhile, Esquel Group’s garment factory in Luong Son IP, one of the first projects in the IP with an investment of about 28 million USD, had enjoyed an export revenue of 17.63 million USD in the first four months of this year, employing about 5,000 labourers.
HNT Vi Na, which is Coasia CM ViNa now, is also another successful firm in the Luong Son IP, with an export revenue of about 28.97 million USD in April and nearly 90 million USD so far this year, providing jobs for 2,300 labourers.
So far, the Luong Son IP has hosted 41 projects, including 18 invested by investors from Japan, the Republic of Korea and India, with a total investment of nearly 300 million USD, along with 23 domestically-invested projects worth over 1.2 trillion VND.
Leaders of the Management Board of Hoa Binh IPs said that the majority of enterprises based in Luong Son IP has operated effectively, contributing to the economic restructuring process of Luong Son district./.
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.
