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(HBO) - After two consecutive years (2019, 2020) of falling short of announced goals in the province’s state budget collection, works for the current year pledge to flourish despite compounded difficulties, thanks to efforts and political determination by all sectors and levels. Accordingly, state budget collection is set to achieve and even out-perform targets.
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This year
witnesses higher import-export tax collection than estimates tasked by Prime
Minister, contributing to bright performing prospects of the province’s state budget
revenues (Photo taken at Hai Hien Bamboo and Wood joint-stock company –
Hoa Binh City).
In 2021, the People’s Council resolution set state budget
collection target in the province at 5.070 billion VND, an increase by 711,6
billion VND from estimates allocated by the Prime Minister (PM), including
domestic revenues of 4.820 billion VND, import-export tax revenues of 250
billion VND. The set target is by all means a hard task given the complex
COVID-19 pandemic creating widespread disruptions. The revenue collection was
also impacted by the implementation of Decree No. 52/2021/ND-CP on tax payment
and land rental deferrals. Moreover, the water levels of Hoa Binh Reservoir
plummeted, leading to drastic drops in power generation, meaning massive
decreases in budget revenues.
Early grasp of challenges as well as clarity in determining
state budget collection as the core political tasks steered the provincial
Party and People’s Committees to promulgate Resolution No. 02-NQ/TU on May 31
2021 to set guidelines for the revenues creation and collection during
2021-2025 period. Departments, sectors, localities are directed to collaborate
closely with tax authorities in state budget collection.
By the end of November, import-export tax revenue alone
reached over 380 billion VND, 190% of assigned estimates by the PM. Domestic
revenues reached 3.570,8 billion, or 86% of estimates by the Government.
Compared to targets set by the provincial authorities, 11 out of 17 categories
of revenues boasted higher than average collection rates, some impressive
increases.
The
Provincial Tax Department is boosting efforts and solutions, including
increased crackdowns trade frauds and smugglings, to outperform the set targets
of state budget collection in the remaining days of the year.
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.
