In 2025, Hoa Binh’s banking sector will focus on providing capital to drive production and business activities. Credit institutions in the province are committed to meeting the loan demands of businesses and individuals, fostering economic growth.
Vietinbank branch in Hoa Binh effectively introduces credit packages to
customers.
Agribank’s Hoa Binh branch has launched preferential credit programmes, contributing to a nationwide funding package of 110 trillion VND (over 4.3 billion USD). This includes 70 trillion VND for production and business activities loans at a competitive 4.5% annual interest rate, 30 trillion VND for personal needs, and 10 trillion VND for green credit projects at 3.5% per year, targeting eco-friendly and organic agricultural initiatives.
According to Nguyen Huu Thang, Deputy Director of Agribank’s Hoa Binh branch, the programmes offer attractive rates and streamlined procedures to enhance financial access. With 12 branches and 29 transaction points, Agribank Hoa Binh surpassed its 2024 business targets, contributing to regional monetary stability.
Other financial institutions in the province are also rolling out preferential credit programs to support business recovery and expansion. The sector aims for 16% credit growth in 2025, with Hoa Binh targeting at least 12%, focusing on agriculture, enterprises, and collective economic models.
In 2024, the banking sector successfully implemented debt restructuring and preferential credit policies, leading to a 0.2–2% drop in lending interest rates compared to late 2023. Credit outstanding increased by over 2.83 trillion VND, supporting the province’s 9% GRDP growth.
Moving forward, the banking sector will continue facilitating access to capital, ensuring sustainable credit growth aligned with Hoa Binh’s economic development goals.
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.
