HBO - In 2019, Hoa Binh province is allocated a State budget-sourced investment capital of over 2.47 trillion VND (106.21 million USD).
The province has made detail distributions to each project with
total capital of more than 2.02 trillion VND, which comprised of 1.43 trillion
VND from the provincial budget, 285.97 billion VND from the central budget, and
302.96 billion VND from foreign sources.
The capital that has yet to be distributed and assigned is
443.1 billion VND, including 400.058 billion VND for national target programmes,
6 billion VND for the programme to develop infrastructure for coastal and
border economic zones, industrial parks and industrial clusters, hi-tech parks,
and hi-tech agricultural region, and 37.041 billion VND from foreign
investment.
As of February 20, 2019, Hoa Binh had distributed 285.3
billion VND of public investment, reaching 12 percent of the yearly target.
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.
Hoa Binh province has mobilised all resources to propel local agricultural products to make inroads into foreign markets, towards lifting the export turnover of key agricultural products to 137.8 million USD by 2030, accounting for 3.4% of the locality’s total export value of goods.
The locality aims to export farm produce to the US, the European Union, the UK, China, Japan, and the Republic of Korea.
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