Over the years, businesses located in local industrial parks (IP) have operated stably, completing and exceeding their plan and enjoying growth in revenue, export revenue and State budget payment, while contributing to creating jobs for local labourers.
Workers of Nissin Manufacturing Vietnam at Luong Son IP in Luong
Son district, which is employing nearly 250 labourers with an average income of
9.8 million VND per month.
The motorcycle components factory of Nissin Manufacturing Vietnam Co., Ltd. in
Luong Son IP in Luong Son district officially came into operation in 2014 with
a capacity of producing 23 million products each year.
In 2022, the firm created jobs for nearly 250 labourers who earn 9.8 million
VND (405 USD) each month. It paid 1.776 million USD to the State budget. The
company has shown strong performance in caring for labourers and creating a
friendly working environment for workers.
Luong Son IP is hosting 39 investment projects, including 17 foreign-invested
ones with a combined capital of 230 million USD. The projects have created jobs for about 15,000 labourers, mostly locals, with
an average income of over 6.5 million VND per month.
In the first nine months of this year, companies in the IP reported a revenue
of 13.18 billion VND, and exports of 499.09 million USD, paying 144.66 billion
VND to the State budget. As many businesses in the IP are enjoying exemption of corporate income tax,
the State budget collection in the next three years is expected to far exceed
the current figure.
Meanwhile, businesses in the Da River’s Left Bank IP are also operating stably.
According to the Management Board of Hoa Binh IPs, in the first nine months of
this year, the IP attracted additional three projects, fulfilling 60% of its
plan. Companies in the IP posted a combined revenue of 15.29 trillion VND. They
have created new jobs for 1,032 labourers.
To date, IPs in Hoa Binh have lured 107 projects, including 25 foreign-invested
ones with a total investment of 519.33 million USD, and 82
domestically-invested ones with a combined capital of 15.87 trillion VND.
Chu Van Thang, Director of the Management Board of Hoa Binh IPs, said that this
year, local IPs aim to attract five new projects, earning 22 trillion VND in
revenue and exports of 770 million USD, and creating new jobs for about 1,880
labourers.
To this end, the province has focused on improving the investment and business
environment, while upgrading the infrastructure of local IPs, and preparing
land stocks for investors, Thang said.
Maximizing local potential and advantages, Yen Tri commune in Yen Thuy district is actively promoting the cultivation of medicinal herbs and turning medicinal herbs into One Commune - One Product (OCOP) products.
Situated at the gateway to the Northwest, Hoa Binh province has a population of over 900,000, including about 540,000 of working age. It is home to 6,000 businesses and production facilities, providing employment for over 100,000 workers. The remaining workforce is engaged in informal jobs, works in enterprises outside the province, or contributes to agro-forestry-fisheries. Additionally, around 3,000 workers are employed abroad.
The Hoa Binh provincial People's Committee has issued Decision No. 2767/QD-UBND announcing the rankings of departments, agencies, districts and Hoa Binh city in the Public Administration Reform Index (PAR) and the Satisfaction Index of Public Administration Services (SIPAS) in 2024.
The cultivation of Dam Xanh fish (Bangana lemassoni), a unique fish species, has seen remarkable growth in Mai Chau district, thanks to its high economic value and effectiveness. Initially concentrated in Van Mai commune, farming has now extended to four other communes, namely Mai Hich, Mai Ha, Chieng Chau, and Son Thuy. These areas benefit from pristine underground water flowing from mountain crevices, providing ideal conditions for raising this specialty fish.
In 2024, the total state budget revenue of Hoa Binh Province is estimated at approximately VND 6,930 billion, achieving 183% of the Government’s target, 126% of the target assigned by the Provincial People's Council, and 145% compared to the same period last year.
In 2024, Hoa Binh province has shown signs of improvement in attracting investment and developing enterprises.
