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.
Xuan Thien Hoa Binh Company Limited begins construction on the Xuan Thien lime and lightweight powder manufacturing plant in Lac Thuy district.
The economic situation in April and the first four months of 2025 has maintained stable and shown acceleration compared to the same period in 2024, stated Vu Duc Dung, Deputy Director of the Department of Finance, adding state budget revenue reached some 2.74 trillion VND (105.56 million USD), representing 38.7% of the target set by the provincial People's Council.
The industrial sector played a pivotal role in the province's overall economic expansion, particularly in electricity production. April's index of industrial production increased by an estimated 15.5% compared to the same period last year. Electricity output for April reached an estimated 502 million kWh, with the four-month projection at 2,045.7 million kWh.
Meanwhile, total retail sales of consumer goods was estimated at over 1.93 trillion VND in April, a 2.45% increase from March and 21.5% growth compared to April 2024. Export performance was impressive, with four-month exports valued at some 745.9 million USD, or 31.59% of the annual plan and a 16.57% increase from the same period last year.
Investment promotion and business climate improvement efforts yielded significant results, with 21 new projects approved and 23 projects receiving adjusted investment approvals since the beginning of the year. These projects represent a total registered capital of 7.1 trillion VND, up 6.8 trillion VNDcompared to the same period in 2024.
The province broke ground on the Xuan Thien Hoa Binh lime and lightweight powder factory in Lac Thuy district, a provincial flagship project with a total investment of over 8 trillion VND in April.
Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Bui Duc Hinh emphasised that maintaining this growth trajectory requires continued focus on harmonious measures, with special attention being given to revenue-increasing measures and resolving difficulties to boost earnings from land use rights auctions. The province is also speeding up public investment disbursement while aggressively clearing sites for the implementation of key projects.
The provincial People’s Committee commits to accompanying enterprises, carrying out solutions to improve the business climate and competitive capacity, he said, stressing the province will actively address challenges and create favourable conditions for businesses to develop their operations in the locality.
Hoa Binh aims to achieve economic growth of at least 10% and a gross regional domestic product of over 104 trillion VND in Quarter 2.
"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.
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.
In recent times, Hoa Binh province has shown its determination and high sense of responsibility in seriously implementing the directives of the Party Central Committee and its Politburo and Secretariat regarding the streamlining of the political system’s organisational apparatus and the development of a two-level local administration system. The aim is to build a commune-level administration that is close to the people, attentive to their needs, and capable of quickly responding to the demands of both businesses and citizens, while also opening up new development spaces.
Over the past three years, the northern mountainous province of Hoa Binh has begun redefining its position on Vietnam’s service landscape with a series of distintive commercial models, from highland night markets, pedestrian-friendly streets, to logistics centres tied to local agricultural products.
Hoa Binh city has marked a significant step in sustainable forest management as nearly 1,450 hectares of its plantation forests have been granted Forest Stewardship Council (FSC) certification, an international standard required to access major wood markets such as the EU, the US, and Japan.
Construction on the Xuan Thien Hoa Binh lime and light powder factory in Yen Bong commune, Lac Thuy district - a key project of Hoa Binh province - started on April 24.
