(HBO) – Since the start of this year, the State Bank of Vietnam (SBV)’s Branch in Hoa Binh province has actively implemented guidelines and policies of the Party, State and sectors for banks and credit institutions in the province, with focus placed on providing preferential credit to people and businesses hurt by the COVID-19 pandemic and expanding non-cash payment from 2022 – 2025.
Vietcombank’s branch
in Hoa Binh contributes to effectively boosting the local economic development.
Reports showed that Hoa Binh’s monetary market
remained fairly stable this year, with total capital mobilized by the end of
May totaling 35.55 trillion VND, up 6 percent from the end of last year. Over
28.13 trillion VND of which came from businesses and individuals, an increase
of 8 percent from the end of 2021.
According to statistics from the SBV Branch in
Hoa Binh, total outstanding loans in agriculture and rural development exceeded
15.78 trillion VND as of the end of May, accounting for 51 percent of the
total. Soft loans for small- and medium-sized enterprises reached over 7.03
trillion VND, making up 22.7 percent of the total; and that for exports and
supporting industry valued 22 billion VND.
In the coming time, Ngo Quang Loi, Deputy
Director of the SBV Branch in Hoa Binh, said it will continue focusing on
enforcing the State and Party’s related guidelines and policies, particularly
financial support packages under the government’s post-pandemic recovery
programme; and accelerate inspection over banks and credit institutions and
anti-corruption efforts.
It will also closely control credit provision in
high-risk sectors, such as investment, real estate, securities, BOT and BT
transport projects, and corporate bonds; and strictly monitor credit poured
into land use right auctions under the direction of the State Bank of Vietnam.
The SBV Branch has been urging the continued
provision of support for pandemic-hit enterprises to push for economic recovery
and the effective implementation of policy credit programmes, particularly for
the poor and policy beneficiaries. It also plans to promote digital transformation
and cashless payment over the next three years./.
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.
