(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./.
After more than four years of implementing a project launched by the Hoa Binh Party Committee’s Standing Board on developing agriculture and promoting product consumption linked with building new-style rural areas for the 2021-2025 period, the province’s industry and trade sector has made significant strides, greatly contributing to local socio-economic development.
Luong Son district has identified 2025 as the year for the accelerated breakthrough to successfully implement the socio-economic development plan for the 5-year period from 2021 to 2025. The district has been focusing on executing the plans and trying to achieve a GRDP growth rate of approximately 15%.
Since the beginning of this year, under the direction of the Department of Agriculture and Environment, the Sub-Department of Agricultural, Forestry, and Fishery Product Quality Management has strengthened the integration of the professional activities to promote and guide the organizations and individuals in the production and trading of agricultural, forestry, and fishery products to comply with the legal regulations regarding the use of chemicals, pesticides and veterinary medicines in crop cultivation, livestock farming and aquaculture. They also provide guidance to processing and manufacturing establishments on keeping the records to trace the product origins and using food additives from the approved list according to the regulations.
Hoa Binh province saw a significant rise in state budget revenue in the first two months of 2025, heard a meeting chaired by Vice Chairman of the provincial People’s Committee Quach Tat Liem.
Ha Thi Ha Chi, a 26-year-old graduate in law, has taken an unconventional path by returning to her hometown in Mai Chau district to establish the Tong Dau Cooperative, creating stable jobs for local women and bringing Thai ethnic brocade weaving to the global market.
As the Lunar New Year 2025 approached, pork prices surged, creating a profitable season for farmers in Tan Vinh commune, Luong Son district. Taking advantage of the rising demand, Can Minh Son, a farmer from Coi hamlet, sold over 30 pigs at 69,000 VND/kg, each weighing more than 100 kg. After deducting expenses, his family earned a profit of over 50 million VND.
