Hoa Binh works hard to attract more foreign investment inflows

12/26/2021 - 11:51:51 AM

(HBO) – Authorities of Hoa Binh province have worked hard on economic diplomacy, with the aim of attracting more foreign investment, thus creating a motivation for socio-economic development in the locality.

Sma Vina Viet-Han Garment Import-Export JSC (Hoa Binh city) has maintained stable production and business activities, helping create jobs for local labourers.

The local authorities have determined that cooperation and investment attraction play an important role in creating momentum for economic development. Therefore, they have been striving to introduce the province's potential and strengths to investors, towards attracting more investment in the locality, especially in prioritized projects.

Investment promotion programmes, plans for trade promotion, and solutions to improve business and investment environment and competitiveness of the locality have been implemented annually.

Hoa Binh is now home to 642 investment projects, including 39 foreign-invested projects worth 620 million USD, and 585 domestic ones totaling nearly 119.5 trillion VND.

Foreign investment projects are mainly in industrial production; and service, trade and tourism, accounting for about 78 percent and 19.5 percent of the total number of projects, respectively.

As many as 102 investment projects have been so far licensed to operate in local industrial parks, including 27 foreign direct investment projects with total registered capital of 527.35 million USD, and 75 domestic investment projects worth over 11 trillion VND.

The locality has also worked hard to lure official development assistance (ODA) capital. In the 2010 - 2020 period, 24 programmes and projects using ODA capital, with a total investment of 6.46 trillion VND, focusing on the fields of transport, urban and rural infrastructure development, health care, education, irrigation, and poverty reduction, were implemented in Hoa Binh.

Regarding foreign non-governmental aid, the province implemented 227 programmes and projects, and disbursed 21 non-project grants with a total committed value of 51.7 million USD in the period 2010 - 2020. The locality received an average 2.8 million USD each year.

Investment projects have significantly contributed to the locality’s socio-economic development, helping create more jobs for labourers and increase revenues for the State budget.

With its policy of promoting selective cooperation and investment attraction, the local authorities have resolutely refused projects using outdated technologies and those showing signs of commercial fraud.

The local authorities have created the best possible conditions for investors, and focused on improving its business and investment environment and the provincial competitiveness index, enhancing investment promotion activities, and accelerating administrative reform in order to remove difficulties facing enterprises and investors operating in the locality.

Attention has been also paid to synchronously developing technical infrastructure and improving the quality of human resources to meet the demand of foreign investors.

Rich and Flavorful Honey of Dao Village

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.

Lac Thuy district prioritises resources for industrial, handicraft development

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.

Phu Thanh implements organic practices in tea production

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.

Hoa Binh works hard to accelerate progress of key projects

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 achieves record-breaking economic growth in Q1

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.

Hoa Binh focuses on building strong OCOP brands for sustainable growth

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.