In a bold move to enhance its Provincial Competitiveness Index (PCI), Hoa Binh province has carried out various measures to create a more dynamic and business-friendly environment across all economic sectors.
With upgrades to its investment and business climate, Hoa
Binh province has attracted many investors. Seyoung INC Co., Ltd. at Luong Son
Industrial Park in Luong Son district has generated jobs for local residents.
Nhuan Trach Industrial Park, one of the
province's 14 flagship projects, exemplifies this initiative. With an
investment of nearly 2.4 trillion VND (nearly 95 million USD) and spanning
213.68 hectares, the project is being developed by Hoa Phu - Hoa Binh Co., Ltd.
According to Deputy General Director of the company Luu Quoc Khanh, it wants to
build modern infrastructure while prioritising high-tech projects that add
value to the local economy, contributing to local sustainable economic
shifting.
The project faced initial challenges with land
clearance and compensation, particularly regarding resettlement issues. The
province then directed Luong Son district to accelerate the land clearance
process and complete relevant procedures. These efforts culminated in the
project's groundbreaking ceremony on January 10, 2025.
Following the Government’s resolution on
measures to create a better business environment and competitive capacity, Hoa
Binh developed and carried out various action plans focusing on administrative
procedure reform, improvement in competitive edge, and business support. The
province has utilized international media and events to promote its receptive
business community on a global level.
The results after one year are remarkable. By
the end of 2024, the province digitised 1,838 administrative procedures, with
over 55% fully available online. The implementation of a five-step digital
process has enabled 100% of provincial and district-level procedures to be
handled electronically. This has led to a 99.6% rate of on-time application
processing and a 98% satisfaction rate among citizens and businesses. Business
registration procedures have been streamlined, reducing the time for the
establishment of a business to just two days.
The intelligent operations center (IOC) has
provided real-time data analysis for more effective decision-making, while a
digital investment promotion database helps investors access information
easily.
Additionally, regular dialogues with businesses
have addressed concerns effectively, with two major conferences involving 280
companies helping to resolve various issues. The total outstanding loans in the
region reached over 41.2 trillion VND in 2024, up 2.9% from the previous year.
Despite these achievements, the province still
faces delays in master planning approval, which affects investment attraction.
Businesses continue to encounter difficulties in land access and administrative
procedures while human resources quality and the connection between training
institutions and businesses need improvement.
Deputy Director of the Department of Planning
and Investment Vu Duc Dung said it is important to develop digital infrastructure
and provide more support policies for small and medium enterprises. In the
meantime, the province should continue issuing support policies while
encouraging innovation and strengthening collaboration between educational
institutions and businesses to develop a skilled workforce.
Amid efforts to streamline the administrative apparatus, Hoa Binh province has intensified measures to address challenges in land clearance, resettlement support, and infrastructure investment, aiming to speed up the progress of key projects.
Hoa Binh province has posted an unprecedented economic growth rate of 12.76% in the first quarter of 2025, marking its highest quarterly performance to date and positioning it as the second fastest-growing locality in the country, trailing only Bac Giang province.
Under current regulations, products in the One Commune – One Product (OCOP) programme that are rated three stars or higher must undergo re-evaluation every three months. However, in reality, some of these products fail to consistently meet the required standards, raising concerns about the sustainability of their OCOP certification. This underscores the urgent need for producers to enhance product quality and gradually develop their OCOP products into strong, marketable brands.
In 2019, the "One Commune, One Product" (OCOP) programme took root in Yen Thuy district. At the time, local products lacked branding, packaging, and labels, mostly sold in raw form through small-scale distribution. However, amid these challenges was a crucial advantage: farmers' willingness to change, experiment with standardised processes, and learn to package and price products based on value, not just weight.
Once barely visible on the northern region’s tourism map, Hoa Binh province welcomed 4.3 million visitors last year, generating a tourism revenue of nearly 4.74 trillion VND (USD), according for 31% of its GDRP. Beyond mere statistics, the milestone demonstrates that tourism and services have become new growth engines for the locality.
