(HBO) – The total outstanding loans of banks and credit institutions in the northern province of Hoa Binh reached over 21 trillion VND (907.8 million USD) at the end of 2018, a year-on-year rise of 12.46 percent, according to the State Bank of Vietnam’s local branch. Of which, the short-term outstanding loans were 8.63 trillion VND, making up 41 percent; middle and long-term ones, over 12.4 trillion VND, accounting for 59 percent.
The Hoa Binh branch of the joint Stock Commercial Bank for
Investment and Development of Vietnam (BIDV) offers production loans for many
enterprises and business households in the locality.
The interest rate for short-term production and
business loans of commercial banks ranged from 6.5 percent to 10 percent per
year (normally 8.5-9 percent per year), while middle- and long-term ones
10.5-11.5 percent per year.
People’s credit funds applied the interest rate
of between 10.8 percent and 12 percent per year for short-term loans, and
10.8-13.2 percent per year for medium- and long- term ones.
That for consumer loans of commercial banks and
people’s credit funds stood at 11 percent and 12-13.2 percent per year,
respectively.
Banks and credit institutions offered over 12
trillion VND in loans for the agricultural and rural sector, making up 62
percent of the total outstanding loans, up nearly 13 percent versus 2017.
Loans for small and medium-sized enterprises (SMEs) accounted for over 20
percent of total outstanding loans. The outstanding loans for industry, export,
high-tech and clean agriculture remained low./.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
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.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
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.
