HBO – As of the end of 2017, Hoa Binh counted 55 investment projects in agriculture and rural areas with combined capital of more than 14.5 trillion VND, accounting for 11.2 percent of the total investment projects in the province. The surge in number of firms investing in agriculture and rural development after many years is a positive sign in the province’s economic situation.
An investment project building a
farm at the core of a regional linkage to raise breeding cows is carried out in
Tan My commune, Lac Son district
Hoa Binh has many favourable conditions for agricultural
production, particularly in the cultivation of fruit trees and the raising of
cattle and poultry. During 2008-2017, out of 2,587 firms and investors granted
business licences, 174 were involved in agriculture and rural development, or
6.7 percent of the total.
The increase in number of firms choosing to operate in agriculture
is attributable to the implementation of State policy, which won approval of
the business community. Since 2008, the provincial People’s Committee has
licensed 47 investment projects in agriculture and rural development, using a
total 27,000 ha of land and more than 5 trillion VND.
Projects in agriculture and rural development are mostly farms
raising cattle/poultry and fish, and planting forests, clean vegetable/fruits
and medicinal herb. Some examples are the pig raising farm using bio-technology
in Lac Thuy, the farm combining high-yield chicken raising and fruit tree and
medicinal herb planting in Yen Thuy, the farm and a regional linkage to raise
breeding cows in Lac Son, and the forest planting project during 2012-2020 by
the Hoa Binh Forestry One Member Ltd Co.
According to statistics, firms operating in agriculture and rural
areas have an average annual income of 1.6 billion VND, and their workers have
an average monthly salary of 4 million VND. They have created jobs for more
than 9,000 local workers, and contributed more than 45 billion VND a year to
the State budget./.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.