Hoa Binh’s index of industrial production (IID) in the first quarter was estimated to increase by 0.5% year-on-year, in which the index of the mining industry rose by 3.57%; production and distribution of electricity, hot water, steam and air-conditioners 3.47%; and water supply, management and treatment of waste and wastewater 12.84%. In the contrary, the IID of the processing and manufacturing sector decreased by 3.45% year-on-year.

Total retail sales of goods and services are estimated at 16.11 trillion VND (686.3 million USD), equivalent to 25.98% of the yearly plan, up 12.9% year-on-year. Consumer price index as of March 2023 increased by 0.33% over the same period, mainly due to the rise in prices of food and foodstuffs, beverages, and garments.

Currently, there are 63 import-export enterprises in the province. Total export turnover in the period is estimated at 361.65 million USD, up 7.34% year-on-year, equal to 21.34% of the yearly plan. Specifically, the garment and textile sector earned an estimated 114 million USD, up 11.77% year-on-year, accounting for 31.52% of the province's total export revenue; while electronic products brought home about 195.6 million USD, up 3.76% over the same period, or 54.09%. Agricultural products held a low proportion in the export structure, with nearly 1%.

In order to promote production, business, and import and export activities, in the coming time, the province will continue to concertedly and effectively implement action programmes, schemes and plans of the provincial Party Committee on industrial, handicrafts, service and tourism development in the 2021-2025 period. It will mobilise all resources to perfect the technical infrastructure system, especially investing in completing traffic infrastructure to industrial zones and clusters; step up and renew investment promotion activities and call for investment in priority areas; and hold regular dialogues to remove difficulties and obstacles for investors and businesses.

Attention will be paid to supporting businesses to take advantage of signed free trade agreements (FTAs) to effectively exploit markets and boost exports; strengthening linkages with domestic enterprises in the production and export process; expanding export markets for citrus fruits, processed products and key export items of the province, with focus on ASEAN countries, the US, the European Union, Australia, the Republic of Korea, Thailand, Singapore and Indonesia; and attracting domestic and foreign enterprises to invest in logistics, and improve trade competitiveness in order to boost economic development./.