(HBO) – Banks in the northern province of Hoa Binh for years have actively provided credits for economic development, especially to meet the capital needs for production and business of enterprises, cooperatives, and business households.
Agribank Hoa Binh branch.
The banking system in the province now includes the State Bank of Vietnam (SBV)
provincial branch and branches of nine commercial banks - Agribank, BIDV,
Vietinbank, VCB, VPBank, LienVietPostbank, MBbank, BacAbank, HDbank, and Social
Policy Bank of Vietnam, plus a People's Credit Fund.
The province has 4,296 enterprises and 486 cooperatives. Most of the businesses
in the province need loans to boost production and business.
The banking system has been implementing credit programmes and policies under
the direction of the Government and the State Bank of Vietnam to create
favourable conditions for businesses and people to access credit capital,
invest in production and business development, create jobs, restore economic
development, and ensure social security.
As of January 31, 2023, the total locally mobilised capital of
credit institutions reached 40.546 trillion VND (1.73 billion USD). Total
outstanding loans to all economic sectors reached 34.22 trillion VND, of which
loans worth 7.656 trillion VND were offered to 1,203 enterprises, accounting
for 22.4% of the total outstanding loans.
Loans for agriculture and rural areas reached 16.535 trillion
VND, accounting for 48.3% of the total outstanding loans; those for 11
cooperatives reached 34 billion VND; and those for individuals and households
for production and business nearly 24.5 trillion VND.
To support credit activities for businesses, over the recent years, the State
Bank of Vietnam's branch has paid special attention to the programmes that
connect banks and businesses in the province.
Accordingly, the branch regularly signs coordination agreements
with the units to exchange and provide information on monetary and credit
policies.
The central bank’s branch also cooperates with the provincial
business association to promptly capture information and remove difficulties,
and create favourable conditions in accessing bank loans.
According to Ngo Quang Loi, Deputy Director of the State Bank of Vietnam's
provincial branch, up to now, the banking sector has organised 67 dialogue
conferences and working sessions with businesses with a total loan commitment
of 9.23 billion VND.
Outstanding loans under signed programmes are over 6.55 trillion
VND, and loan turnover (accumulated from the beginning of the year) is 7.655
trillion VND.
More than 1,270 customers received loans, including 1,203
businesses.
Banks and credit institutions in the province continue to
implement measures to support borrowers and remove difficulties for customers
under the direction of the Government and the State Bank of Vietnam./.
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.
