(HBO) - Hoa Binh City has so far attracted 14 direct foreign investment (FDI) and 160 domestic-funded projects worth over 276.8 million USD and 27.64 trillion VND (1.19 billion USD), respectively. Of the total, there are 72 projects in industry, 17 in tourism, 41 in service and trade, 16 in infrastructure – urban development, and eight in ore mining.
SMA VINA Viet-Han
Garment Import Export JSC based in Hoa Binh City’s Dan Chu ward creates
stable-income jobs for locals.
For a clear and transparent business climate, the municipal
Party Committee and People’s Committee has focused on urban planning,
administrative reform, and digital government building.
The second congress of the municipal Party organization, for
the 2020-2025 tenure, targeted turning the city into a 2nd level
urban area prior to 2025. As such, priorities for actions have been set to
include attracting investment from capable investors, speeding up the
completion of industrial infrastructure, creating favourable conditions for
business growth, and streamlining administrative procedures.
The city is also working to increase the occupation rates of
Yen Mong, Cham Mat – Dan Chu, and Tien Tien industrial clusters to 80, 100, and
50 percent, respectively./.
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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