(HBO) - According to the State Bank of Vietnam (SBV)’s Hoa Binh provincial branch, the total capital mobilised in the locality by the end of February 2023 by credit institutions neared 40.6 trillion VND (about 1.73 billion USD), up 0.9% compared to the beginning of the year, in which the amount mobilised from organisations and individuals was 30.5 trillion VND , up 1.3%, and deposits from individuals topped 72.5% of the total mobilised capital.
VietinBank’s
Banch in Hoa Binh province works to attract deposits to meet demand for loans
in the locality.
Credit institutions in the province have offered interest rates
from 0.1-1% per year for less-than-a-month deposits. With deposits from 1 month
to less than 6 months, the interest rates are set at 4.6 to 6.0% a year at
commercial banks and from 3.5 to 5.6% a year at people's credit funds.
For
deposits determined by market supply and demand with a term of 6 to 12 months,
commercial banks have set interest rates from 6-8.6%; from 4-7.5% a year
at people’s credit funds; with a term from 12 months and above, interest rates
are set from 7.4-8.9% a year at commercial banks and from 6.2-7.8% a year
at people’s credit funds.
Once a mountainous province facing many challenges, Hoa Binh has, after more than a decade of implementing the national target programme on new-style rural area development, emerged as a bright spot in Vietnam’s northern midland and mountainous region. In the first quarter of 2025, the province recorded positive results, paving the way for Hoa Binh to enter a phase of accelerated growth with a proactive and confident mindset.
Hoa Binh province is steadily advancing its agricultural sector through the adoption of high-tech solutions, seen as a sustainable path for long-term development.
The steering committee for key projects of Hoa Binh province convened on May 14 to assess the progress of major ongoing developments
A delegation of Hoa Binh province has attended the "Meet Korea 2025" event, recently held by the Ministry of Foreign Affairs, the Embassy of the Republic of Korea (RoK) in Vietnam, the Korea Trade-Investment Promotion Agency, and the People's Committee of Hung Yen province.
Hoa Binh province joined Vietnam’s national "One Commune, One Product” (OCOP) programme in 2019, not simply as a mountainous region following central policy, but with a clear vision to revive the cultural and agricultural values in its villages and crops.
From just 16 certified products in its inaugural year to 158 by early 2025, the One Commune One Product (OCOP) programme in Hoa Binh province has followed a steady and strategic path. But beyond the numbers, it has reawakened local heritage, turning oranges, bamboo shoots, brocade, and herbal remedies into branded, market-ready goods - and, more profoundly, transformed how local communities value and present their own cultural identity.
.jpg)
