In recent years, the Provincial Party Committee and People's Committee of Hoa Binh province has focused on leading and directing the implementation of administrative reform tasks; focusing on perfecting administrative institutions, creating a fair and transparent competitive environment, favorable to attract investment.
Accordingly, many potential investors have come to the province. According to data from the Provincial People's Committee, in 2023, development investment capital in the province is estimated to reach 26,155 billion VND, an increase of 7,745 billion VND compared to year 2022.
In 2023, Hoa Binh province had 45 off-budget capital investment projects approved with investment policies with a total registered investment capital of about 20,000 billion VND. There are 760 projects in Hoa Binh province; including 36 foreign direct investment projects with total registered capital of about 608 million USD and 724 domestic investment projects with registered capital of about 275,000 billion VND.
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.
