(HBO) – Over the past three decades since it was re-established, Hoa Binh province has taken major steps in the "Doi Moi” (Renewal) period, with imprints in foreign affairs that aimed to strengthen relations with foreign countries, organisations and localities and foster people-to-people diplomacy. The move was expected to take advantages of external resources for development.
Japan-invested R
Vietnam Technical Research Ltd. Co., located at Da River Left-bank Industrial
Park, is among the largest contributors to Hoa Binh’s total exports.
The province has diversified ways of communications and promotion to better
introduce its potential, strengths and orientations among local and foreign
people.
Hoa Binh plays an active role in international economic integration as it has
issued a number of programmes and plans for the implementation of free trade
agreements (FTAs), including the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP) and the EU-Vietnam FTA (EVFTA).
The province has been on the right track to fulfill commitments and agreements
signed with a number of international organisations, such as World Vision,
ChildFund and Germany’s reconstruction bank KfW. The commitments and agreements
have been strictly enforced as part of the province’s efforts to lure more
investment and funding.
Hoa Binh has also been focusing on improving the local business climate and
accelerating public administrative reforms. The province has given priority to
develop infrastructure and human resources in order to meet needs for growth
and international integration.
The province is currently home to 49 exporting and importing businesses, 26 of
which are foreign-invested, accounting for 53 percent of the total. The
foreign-invested firms are the main driver of the province’s foreign trade,
contributing more 80 percent of the total exports.
Its open policy to welcome foreign investment has provided a momentum for the
local economy. From 2016-2020, Hoa Binh’s foreign trade grew 28.5 percent on
average annually, with the United States, the United Kingdom, the Republic of
Korea, Japan and China being its largest importers.
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.
