In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
The Nakata Vietnam Packaging joint Stock Company in Phu Thanh II Industrial Park (Lac Thuy) creates jobs and stable income for many local workers.
The industrial and handicraft sectors continue to serve as pillars of the district’s socio-economic development. These sectors have contributed significantly to agricultural and rural transformation, job creation, economic growth, and structural shift. Local businesses are increasingly investing in technological innovation and brand building to enhance competitiveness and expand export capacity.
In 2024, the district’s industrial and handicraft production was valued at 3.98 trillion VND (about 154.1 million USD), marking a 123.3% increase compared to 2021. This sector now accounts for 38.4% of the district’s economic structure, with an impressive annual growth rate of 19.75%.
Since 2021, Lac Thuy has attracted 10 investment projects with a total capital of 2.4 trillion VND. One project has already become operational, while the others are in the process of completing investment procedures. The district is home to five industrial clusters (ICs), spanning a total area of 282.25 hectares. These clusters have welcomed 19 investors, achieving an occupancy rate of 40.34%. Over 1 trillion VND has been invested in IC infrastructure development.
Industrial production in the district has seen participation from various economic sectors, leading to a shift toward goods aligned with local strengths. Many enterprises, cooperatives, and production facilities have adopted technological advancements through district-supported programmes, scientific research, and annual funding. These efforts have helped improve product quality and design, making them more competitive in the market.
With a vision of making industry a core driver of high, sustainable, and effective economic growth, and a catalyst for the development of other sectors, Lac Thuy plans to increase budget allocations for site clearance, urban planning, investment attraction, and trade promotion for industrial clusters. Investors are also encouraged to pre-finance land clearance in return for land lease incentives.
To foster a transparent and investor-friendly environment, the district regularly updates its e-portal with information on local potential, opportunities, investment procedures, and legal documents. It supports enterprises in organising investment promotion activities and maintains regular dialogues between local authorities and the business community. Efforts are also underway to strengthen e-government services, streamline administrative procedures, and reduce processing times.
Lac Thuy is committed to building a professional, efficient, and business-friendly team of public servants, shifting from a passive administrative mindset to one of proactive business support. The district also continues to promote local products through supply-demand connection programmes and trade fairs.
Vice Chairwoman of the district People's Committee, Hoang Thi Thu Hang, emphasised that in the time ahead, the district will prioritise attracting industries that apply modern, advanced, and environmentally friendly technologies. Local businesses, particularly small and medium-sized enterprises, will be supported in accessing financial and credit resources to expand production and adopt science and technology in their operations.
Enterprises, cooperatives, households, and individuals will be encouraged to form partnerships that attract investment in industrial and handicraft development, while also preserving and enhancing traditional craft industries.
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.
As part of efforts to restructure and accelerate the development of its industrial and handicraft sectors, Hoa Binh province is focusing on the development of industrial parks (IPs) and industrial clusters (ICs) with synchronous infrastructure to attract strong investment.
