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.
The steering committee for key projects of Hoa Binh province convened on May 14 to assess the progress of major ongoing developments
A delegation of Hoa Binh province has attended the "Meet Korea 2025" event, recently held by the Ministry of Foreign Affairs, the Embassy of the Republic of Korea (RoK) in Vietnam, the Korea Trade-Investment Promotion Agency, and the People's Committee of Hung Yen province.
Hoa Binh province joined Vietnam’s national "One Commune, One Product” (OCOP) programme in 2019, not simply as a mountainous region following central policy, but with a clear vision to revive the cultural and agricultural values in its villages and crops.
From just 16 certified products in its inaugural year to 158 by early 2025, the One Commune One Product (OCOP) programme in Hoa Binh province has followed a steady and strategic path. But beyond the numbers, it has reawakened local heritage, turning oranges, bamboo shoots, brocade, and herbal remedies into branded, market-ready goods - and, more profoundly, transformed how local communities value and present their own cultural identity.
"Behind every One Commune One Product (OCOP)-starred product lies a quietly operating support system: technical staff, experts, trade fairs, and e-commerce platforms. OCOP cannot go far without forward-looking policy support," affirmed Nguyen Huy Nhuan, Director of the Department of Agriculture and Environment of Hoa Binh province.
The economic landscape of Hoa Binh province continued its impressive upward trajectory through the first four months of 2025, according to a recent report from the provincial Department of Finance. The local authority has directed departments and sectors to keep close tabs on growth scenarios for each quarters and remove bottlenecks, striving to complete the set growth targets.
