(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 several unsuccessful attempts to raise pigs, buffaloes and cows, Nguyen Hong Minh who resides in Mui hamlet, Hoa Binh city’s Doc Lap commune decided to try breeding bamboo rat.
Chairman of the Hoa Binh People’s Committee Bui Van Khanh on February 2 held a Lunar New Year meeting with businesses, investors and cooperation in the locality. The event drew Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Council Bui Duc Hinh; Vice President of the Vietnam Chamber of Commerce and Industry Hoang Quang Phong; representatives from the Vietnam Association of Small and Medium-Sized Enterprises and the Vietnam Association of Young Entrepreneurs; as well as leaders of local departments, sectors and localities and 200 local businesses, cooperatives and investors in the locality.
Following the successes achieved in 2023, the local agricultural and rural development sector, localities and cooperatives are gearing up for first orders of the year, as part of their efforts to boost agricultural exports.
Most workers at enterprises in the northern province of Hoa Binh have turned to work just one week after the Tet (Lunar New Year) holiday.
The Hoa Binh Power Corporation (PC Hoa Binh) has directed its units to build plans as well as arrange resources to ensure stable electricity for local winter-spring crop production.
On February 28, the Department of Agriculture and Rural Development of Hoa Binh province coordinated with Minh Trung Vietnam Group joint Stock Company, Hoa Binh branch in Luong Son industrial park, Luong Son district organized a ceremony to export Bat Bao lotus porridge to the Japanese.