(HBO) – Banks in the northern province of Hoa Binh for years have actively provided credits for economic development, especially to meet the capital needs for production and business of enterprises, cooperatives, and business households.
Agribank Hoa Binh branch.
The banking system in the province now includes the State Bank of Vietnam (SBV)
provincial branch and branches of nine commercial banks - Agribank, BIDV,
Vietinbank, VCB, VPBank, LienVietPostbank, MBbank, BacAbank, HDbank, and Social
Policy Bank of Vietnam, plus a People's Credit Fund.
The province has 4,296 enterprises and 486 cooperatives. Most of the businesses
in the province need loans to boost production and business.
The banking system has been implementing credit programmes and policies under
the direction of the Government and the State Bank of Vietnam to create
favourable conditions for businesses and people to access credit capital,
invest in production and business development, create jobs, restore economic
development, and ensure social security.
As of January 31, 2023, the total locally mobilised capital of
credit institutions reached 40.546 trillion VND (1.73 billion USD). Total
outstanding loans to all economic sectors reached 34.22 trillion VND, of which
loans worth 7.656 trillion VND were offered to 1,203 enterprises, accounting
for 22.4% of the total outstanding loans.
Loans for agriculture and rural areas reached 16.535 trillion
VND, accounting for 48.3% of the total outstanding loans; those for 11
cooperatives reached 34 billion VND; and those for individuals and households
for production and business nearly 24.5 trillion VND.
To support credit activities for businesses, over the recent years, the State
Bank of Vietnam's branch has paid special attention to the programmes that
connect banks and businesses in the province.
Accordingly, the branch regularly signs coordination agreements
with the units to exchange and provide information on monetary and credit
policies.
The central bank’s branch also cooperates with the provincial
business association to promptly capture information and remove difficulties,
and create favourable conditions in accessing bank loans.
According to Ngo Quang Loi, Deputy Director of the State Bank of Vietnam's
provincial branch, up to now, the banking sector has organised 67 dialogue
conferences and working sessions with businesses with a total loan commitment
of 9.23 billion VND.
Outstanding loans under signed programmes are over 6.55 trillion
VND, and loan turnover (accumulated from the beginning of the year) is 7.655
trillion VND.
More than 1,270 customers received loans, including 1,203
businesses.
Banks and credit institutions in the province continue to
implement measures to support borrowers and remove difficulties for customers
under the direction of the Government and the State Bank of Vietnam./.
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.
