(HBO) – In 2022, Hoa Binh aims for economic growth of 9%, State budget collection of over 6.4 trillion VND (267.61 million USD), and total social investment of about 19.7 trillion VND, which is completely feasible as the province recorded growth of 10.32% in the first nine months of this year, according to Nguyen Van Thang, Director of the provincial Department of Planning and Investment.
Showing strong post-pandemic recovery, Esquel Vietnam garment company in Hoa Binh’s Luong Son industrial park has made great contributions to the province’s export value.
Speaking at a meeting of the provincial People’s Committee to evaluate the implementation of socio-economic tasks in the first nine months of thus year and define tasks for the rest of the year, Thang said that due to impacts of the COVID-19 pandemic and conflicts in the world, the realisation of tasks for this year is tough.
However, the province has identified drastic measures with various directions and solutions to complete all targets of particular sectors and areas, while working to remove difficulties and obstacles in administrative procedures, capital, ground clearance and land to speed up business and production activities and attract more investment in the province.
As a result, in the first nine months of this year, Hoa Binh’s gross domestic product (GDP) expanded 10.32%, with agro-forestry-fisheries sector growing 3.92%, industry-construction 15.66%. service 7.74%, and tax collection 4.37%.
Thang attributed the result to the strong recovery of the service sector, especially tourism. In the period, Hoa Binh welcomed 2.45 million visitors, a surge of 104% year on year, earning 2.28 trillion VND.
At the same time, strong growth at 25.7% was seen in industrial production, especially power production of the Hoa Binh Hydropower Plant, said Thang.
He said that in the first nine months of this year, the province saw the establishment of 380 new companies with combined capital totaling 10 trillion VND, up 14% year on year. It drew 45 investment projects the combined capital of which amounts to 31.46 trillion VND, 30 projects higher compared to the same time last year and a rise of 129.4% in value. So far, the province has lured 61 trillion VND, two-third of the target of 80 trillion VND set for the whole year, he added.
However, Thang also pointed to various shortcomings of the province, including the slow disbursement of public investment capital, stressing that Chairman of the provincial People’s Committee Bui Van Khanh has directed agencies and investors to exert efforts to speed up the disbursement, and asked for departments and sectors' stronger performance and higher determination in the work, thus completing all the goals set for this 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.
