(HBO) - The resolution of the 17th Provincial Party Congress for the 2020-2025 tenure has set an average growth target of 9 percent over five years. By 2025, the per capita gross regional domestic product (GRDP) will reach about 100 million VND (4,350 USD) and the State budget revenue, 10 trillion VND.
Photo:Quynh Lam commercial
housing project in Hoa Binh city. Raising the attractiveness and early
implementing investment projects are identified as one of the solutions to
promote the province's sustainable economic growth.
The province's economic growth model has developed mainly extensively and the
quality of growth, unsustainable in recent years. The total factor productivity
(TFP) reached only 25.77 percent in 2020. The number of newly-established
enterprises and cooperatives per year is still modest. The allocation of
investment is not adequate and the collection of state budget unstable.
The provincial People's Committee blamed the problems on the limited capacity
in renovating its growth model in association with economic restructuring,
saying that the investment environment is not attractive enough and the quality
of human resources has not yet met the development’s demands.
2022 is an important year that lays the foundation for implementing the goals
of the 5-year Socio-Economic Development Plan for 2021-2025. Thus, a growth
rate of 9 percent should be obtained this year, according to the provincial
People's Committee.
To achieve the goal, it is necessary to continue restructuring the economy,
renovating the growth model and improve productivity, and creating momentum for
rapid and sustainable development.
Ngo Van Tuan, Secretary of the Provincial Party Committee, said challenges lie
ahead as its gross regional domestic product grew 2.66 percent last year.
He said agencies are authorised to finalise plans aimed at
achieving an economic growth of 9 percent right at the beginning of this year,
adding that individuals have to bear the responsibilities in management
relating to projects that are at a standstill or the resettlement for residents
whose land are revoked during the land clearance process.
Attention will be paid to the disbursement of public investment
to ensure economic growth, he said. The focus will be on the implementation of
key projects as well as state budget collection.
Department, agencies and districts were asked to carry out a project on
restructuring the economy in association with renovating growth models. It is
anticipated that the province will reach the national average growth rate by
2025.
Bui Van Khanh, Chairman of the Provincial People's Committee, said that
investment is a must to achieve the growth targets, and that is why the
province will concentrate on creating breakthroughs in infrastructure, human
resources and investment attraction areas./.
Maximizing local potential and advantages, Yen Tri commune in Yen Thuy district is actively promoting the cultivation of medicinal herbs and turning medicinal herbs into One Commune - One Product (OCOP) products.
Situated at the gateway to the Northwest, Hoa Binh province has a population of over 900,000, including about 540,000 of working age. It is home to 6,000 businesses and production facilities, providing employment for over 100,000 workers. The remaining workforce is engaged in informal jobs, works in enterprises outside the province, or contributes to agro-forestry-fisheries. Additionally, around 3,000 workers are employed abroad.
The Hoa Binh provincial People's Committee has issued Decision No. 2767/QD-UBND announcing the rankings of departments, agencies, districts and Hoa Binh city in the Public Administration Reform Index (PAR) and the Satisfaction Index of Public Administration Services (SIPAS) in 2024.
The cultivation of Dam Xanh fish (Bangana lemassoni), a unique fish species, has seen remarkable growth in Mai Chau district, thanks to its high economic value and effectiveness. Initially concentrated in Van Mai commune, farming has now extended to four other communes, namely Mai Hich, Mai Ha, Chieng Chau, and Son Thuy. These areas benefit from pristine underground water flowing from mountain crevices, providing ideal conditions for raising this specialty fish.
In 2024, the total state budget revenue of Hoa Binh Province is estimated at approximately VND 6,930 billion, achieving 183% of the Government’s target, 126% of the target assigned by the Provincial People's Council, and 145% compared to the same period last year.
In 2024, Hoa Binh province has shown signs of improvement in attracting investment and developing enterprises.
