(HBO) - Hoa Binh province is currently home to more than 900 enterprises and 30,000 households doing business in trade, services and tourism. Among them, nearly 3,000 companies have applied IT to transactions.
The Son Thuy JSC, based in Mong Hoa commune of Hoa Binh city, produces
film-coated plywood for export to the Republic of Korea, which has contributed
to the province’s export revenue.
Investors are always welcomed to the province to explore
business opportunities. So far, Hoa Binh has accommodated 565 projects,
including 40 foreign direct invested projects worth a combined 573.3 million
USD, and 525 domestic ones with a total registered capital of almost 71.40
trillion VND (3 billion USD).
Active international economic integration has
greatly helped to promote local industrial production since 2015. Some key
industries and the sectors Hoa Binh has strength in have sustained their
development. The industrial production value grows by 16.71 percent annually
while the index of industrial production rises by about 10.5 percent. Industry
has become the main export driving force, accounting for over 91 percent of the
province’s total overseas shipments.
Besides, the implementation of the agricultural
restructuring plan, which is meant to improve added value and achieve
sustainable development, has proved fruitful. The provincial People’s Committee
has ordered the agricultural sector to review and build development plans for
each of the key plants and animals so as to boost products’ competitiveness in
the integration period.
The enhanced economic restructuring has fueled
trading activities, thus raising export-import turnover and expanding markets.
Hoa Binh estimates its trade turnover at nearly 6.83 billion USD for the 2016 –
2020 period, including 3.28 billion USD in exports and 2.74 billion USD in
imports, respectively rising 30 percent and 27 percent.
Goods have been traded in various forms such as
direct export, entrusted export and export to non-tariff zones. Aside from
shipments to traditional markets like Southeast Asia, the Republic of Korea and
China, local businesses have also accessed demanding markets like Australia,
Canada, Japan and the EU.
Economic, cultural and social exchanges with
other countries have also become a focus of attention. Hoa Binh has signed 11
agreements and memoranda of understanding with foreign partners such as
Habitat, World Vision, Action on Poverty and AEA organisations; Marvin group,
KV Consulting Co. Ltd, Hanbaek Construction Co. Ltd; and Gimje city of
Jeollabuk province and Ulji district of Ulsan city (the Republic of Korea). The
province has also been effectively realising its commitments and agreements
signed with organisations, agencies and localities of Laos and Mongolia.
Over the past years, international economic
integration has strongly influenced local socio-economic development, helping
Hoa Binh increase per capita income and maintain GRDP growth which stood at
about 9.05 percent in 2019./.
After more than four years of implementing a project launched by the Hoa Binh Party Committee’s Standing Board on developing agriculture and promoting product consumption linked with building new-style rural areas for the 2021-2025 period, the province’s industry and trade sector has made significant strides, greatly contributing to local socio-economic development.
Luong Son district has identified 2025 as the year for the accelerated breakthrough to successfully implement the socio-economic development plan for the 5-year period from 2021 to 2025. The district has been focusing on executing the plans and trying to achieve a GRDP growth rate of approximately 15%.
Since the beginning of this year, under the direction of the Department of Agriculture and Environment, the Sub-Department of Agricultural, Forestry, and Fishery Product Quality Management has strengthened the integration of the professional activities to promote and guide the organizations and individuals in the production and trading of agricultural, forestry, and fishery products to comply with the legal regulations regarding the use of chemicals, pesticides and veterinary medicines in crop cultivation, livestock farming and aquaculture. They also provide guidance to processing and manufacturing establishments on keeping the records to trace the product origins and using food additives from the approved list according to the regulations.
Hoa Binh province saw a significant rise in state budget revenue in the first two months of 2025, heard a meeting chaired by Vice Chairman of the provincial People’s Committee Quach Tat Liem.
Ha Thi Ha Chi, a 26-year-old graduate in law, has taken an unconventional path by returning to her hometown in Mai Chau district to establish the Tong Dau Cooperative, creating stable jobs for local women and bringing Thai ethnic brocade weaving to the global market.
As the Lunar New Year 2025 approached, pork prices surged, creating a profitable season for farmers in Tan Vinh commune, Luong Son district. Taking advantage of the rising demand, Can Minh Son, a farmer from Coi hamlet, sold over 30 pigs at 69,000 VND/kg, each weighing more than 100 kg. After deducting expenses, his family earned a profit of over 50 million VND.
