To implement policies of the Party, State and Government on the development of the private economy, Hoa Binh province has taken various measures to facilitate the sector to thrive and become an engine for the entire economy. 

A household in Nhuan Trach commune, Luong Son district, develops milk cow farming.

 Since 2017, the province has attracted 211 investment products, including 17 FDI projects. So far, 580 projects have landed in the province, of which 540 are domestic projects worth close to 84.74 trillion VND while the remainders are FDI projects with a combined registered capital of 575.4 million USD.

 Local industrial parks are home to 95 licensed projects, including 24 FDI projects worth nearly 500 million USD and 71 domestic investment ones with total registered capital of close to 7.27 trillion VND. Some 55 projects have become operational, creating jobs for about 20,000 workers.

Also during the period, over 1,300 new enterprises have been established with total registered capital of roughly 6.98 trillion VND and 428 firms set up representative offices and branches in the province.

To date, Hoa Binh has 3,800 companies registering total capital of more than 40 trillion VND, 387 cooperatives, one cooperative union and over 34,000 household businesses.

However, the growth rates of local firms are slow and most of them are small- and medium-sized. To fuel the development of the private economy, the province will institutionalise the government’s policies on developing the private economy in a way that suits local context, and develop its own incentives and policies to boost the growth of private companies.

The province also plans to support the growth of agricultural cooperatives and adopt special incentives to attract investors. It will accelerate public administrative reforms and provide the best conditions for enterprises to expand production. It will also promote dialogue with enterprises and promptly help them solve difficulties./.

Related Topics

Hoa Binh’s trade surges in May, exceeding 334 million USD

Hoa Binh empowers farmers to embrace innovation for sustainable growth

Over 272.000 tons of agricultural, forestry, and aquatic products exported in 3 years

Bangana lemassoni farming promoted in Mai Chau district

---

Hoa Binh fast-tracks new-style countryside development with strong base

Once a mountainous province facing many challenges, Hoa Binh has, after more than a decade of implementing the national target programme on new-style rural area development, emerged as a bright spot in Vietnam’s northern midland and mountainous region. In the first quarter of 2025, the province recorded positive results, paving the way for Hoa Binh to enter a phase of accelerated growth with a proactive and confident mindset.

High tech seen as key to sustainable farming in Hoa Binh

Hoa Binh province is steadily advancing its agricultural sector through the adoption of high-tech solutions, seen as a sustainable path for long-term development.

Hoa Binh reviews progress on key provincial projects

The steering committee for key projects of Hoa Binh province convened on May 14 to assess the progress of major ongoing developments

Hoa Binh attends "Meet Korea 2025" event

A delegation of Hoa Binh province has attended the "Meet Korea 2025" event, recently held by the Ministry of Foreign Affairs, the Embassy of the Republic of Korea (RoK) in Vietnam, the Korea Trade-Investment Promotion Agency, and the People's Committee of Hung Yen province.

Hoa Binh revives local heritage through OCOP programme

Hoa Binh province joined Vietnam’s national "One Commune, One Product” (OCOP) programme in 2019, not simply as a mountainous region following central policy, but with a clear vision to revive the cultural and agricultural values in its villages and crops.

OCOP Hoa Binh: Awakening local excellence - Journey from tradition to market

From just 16 certified products in its inaugural year to 158 by early 2025, the One Commune One Product (OCOP) programme in Hoa Binh province has followed a steady and strategic path. But beyond the numbers, it has reawakened local heritage, turning oranges, bamboo shoots, brocade, and herbal remedies into branded, market-ready goods - and, more profoundly, transformed how local communities value and present their own cultural identity.