(HBO) – Modern trade is on a rise today, attracting many economic sectors and inflows of capital. In Hoa Binh, it has been fuelling the development of local infrastructure with more and more markets being renovated and supermarkets and shopping malls being launched to meet the increasing demand of customers.
Vincom Plaza in Hoa Binh City is increasingly becoming a popular choice of consumers thanks to its modern setting and diverse supply of goods.
Hoa Binh is now home to six supermarkets, three shopping malls and hundreds of convenient stores. There have been 22 markets newly constructed and 13 others renovated, with total investment of 192 billion VND, over the last five years.
According to the provincial Department of Industry and Trade, supermarkets and shopping malls have played an important role in helping the province stablise the market prices, particularly those of essential goods. The modern infrastructure for trade has also helped develop professional and standardised distribution channels, ensuring food safety, origin traceability, fire prevention and environmental sanitation. There is a strong shift from traditional trade to modern trade in Hoa Binh.
Local districts have also seen the emergence of new trade and services clusters with the launches of more convenient stores, those selling electrical appliances and others, to meet needs of consumers and bolster trade of goods.
Data from the Department of Industry and Trade shows that about 30 percent of local residents are regular shoppers on online marketplaces, such as Lazada, Shopee and Sendo. E-commerce sales are growing at around 20 percent annually. The province has been providing support to local enterprises in online trading as e-commerce is deemed as an effective and cost-efficient tool for branding and marketing.
Hoa Binh’s total retail sales of goods and services expanded 19 percent annually. The figure exceeded 28.97 trillion VND in the first eight months of this year, up 15.8 percent from the same period last year and representing about 65 percent of the yearly target./.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
Amid efforts to streamline the administrative apparatus, Hoa Binh province has intensified measures to address challenges in land clearance, resettlement support, and infrastructure investment, aiming to speed up the progress of key projects.
Hoa Binh province has posted an unprecedented economic growth rate of 12.76% in the first quarter of 2025, marking its highest quarterly performance to date and positioning it as the second fastest-growing locality in the country, trailing only Bac Giang province.
Under current regulations, products in the One Commune – One Product (OCOP) programme that are rated three stars or higher must undergo re-evaluation every three months. However, in reality, some of these products fail to consistently meet the required standards, raising concerns about the sustainability of their OCOP certification. This underscores the urgent need for producers to enhance product quality and gradually develop their OCOP products into strong, marketable brands.
