The tax sector of Hoa Binh province has proactively implemented key tasks and solutions since early 2025 to complete the state budget revenue target of 5.8 trillion VND (227.71 million USD) assigned by the Government and the Ministry of Finance; and 6.8 trillion VND set by the provincial Party Committee, People's Council, and People's Committee. Land-related revenue remains a crucial source in the locality’s state budget plan in 2025.
The Trung Minh A New Urban Area project in Hoa Binh city is a key
project that has contributed over 1 trillion VND to the state budget.
According to the provincial Tax Department, special attention
has been paid to closely monitoring collection progress, identifying potential
revenue sources, and proposing effective management solutions. Based on
analysis, evaluation, and forecasting, the department will pinpoint untapped
revenue sources and areas of tax loss, making recommendations to the provincial
People's Committee to improve collection efficiency and strengthen revenue
management.
For revenue from land use, to ensure effective management of this domain,
relevant agencies are actively coordinating efforts to review and
comprehensively manage all collections. Attention has been paid to
managing businesses with land lease projects; reviewing and compiling a list of
projects due for land rental price adjustments; and ensuring timely issuance of
new land rental rates as a basis for managing land-related revenue in the
province.
In 2024, thanks to the effective implementation of tax management measures, the
locality’s land use fee revenue hit approximately 2.8 trillion VND, surpassing
the Government’s target by 240% and that of provincial People's Council by 40%,
and surging by 87.8% compared to 2023. The 2024 state budget revenue recorded
the highest level ever, reaching nearly 7.56 trillion VND, exceeding the target
assigned by the Prime Minister by 87%, and 50% higher than the previous year.
In January 2025, the province's socio-economic situation showed
many positive signs, raising expectations for strong development and creating
important momentum for achieving the state budget revenue target in 2025.
The wholesale revenue exceeded 2.35 trillion VND, up 15.41% year-on-year. Total
retail sales increased by 17.48%; revenue from lodging and catering services
rose by 7.68%; and the industrial production index grew by 2.82%.
The province’s state budget revenue in January
was over 1.37 trillion VND, more than doubling compared to the same period last
year and equivalent to 19.43% of the target set by the provincial People's
Council.
To achieve the 2025 state budget revenue target, the local
authorities will implement decisive and comprehensive measures to manage and
increase revenue, focusing on mobilising tax, fee, and charge revenues while
effectively implementing taxpayer support policies.
Priority will be given to revenue from land and mineral resources, attracting
investment, improving the business and investment environment, and promoting
economic growth.
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.
