Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
PLac Son district actively attracts investment to promote industrial development and create jobs for labourers. Lac Son Plastic Co., Ltd generates jobs for about 1,300 local labourers.
Chairman of the district People’s Committee Bui Van Linh mentioned the advantages of the locality, saying that Lac Son boasts transportation and labour strengths, and large land for developing agriculture, forestry, industry, and services.
With a rich cultural heritage deeply rooted in the Muong ethnic identity, abundant historical and cultural relics, as well as unique local specialties and cuisine, Lac Son boasts great potential for tourism development.
The northeast communes of Mien Doi and Quy Ho, and the southwest communes of Ngoc Son and Tu Do have a mild climate, beautiful natural landscapes, and a forest coverage of over 50%, making them suitable for resort and eco-tourism development.
Apart from well-known destinations like Mu waterfall in Tu Do commune and Thung hill in Quy Hoa commune, many investors and enterprises have confidently poured money in eco-tourism projects and high-end eco-resort urban areas.
Over the recent years, Lac Son district has paid heed to strengthening investment promotion activities and proactively seizing opportunities to attract capital from domestic and foreign investors.
Moreover, the district has rolled out a red carpet for investors through efforts to speed up administrative reform, improve investment and business environment, and ensure the land clearance progress.
In 2023, the district had four more investment projects approved by the provincial People's Committee, lifting the total number in the locality to 37 worth over 12 trillion VND. These projects cover a combined area of 732 ha. As many as 20 out of these projects were completed and put into operation.
Currently, some investors are proposing to conduct surveys to develop projects with a total area of nearly 2,500 ha in the locality. Bui Van Linh said that businesses and investors have significantly contributed to promoting the district’s socio-economic development, and bringing vitality to all aspects.
The unemployment rate in rural areas has decreased, while the number of local labourers finding employment locally is increasing. Last year, the district’s per capita income reached 60 million VND (nearly 2,400 USD), leading to a reduction in the poverty rate by 4.32%.
Appreciating the abundant potential and strengths of his hometown for tourism development, Ha Cong Hung, Deputy Secretary of the youth union of Mai Chau district’s Mai Hich commune, embarked on producing smoked meat with a desire to introduce his homeland's specialty to domestic and international tourists.
Hoa Binh farmers are investing big in their chilli pepper cultivation areas after the first batch of 7.5 tonnes of pickled chilli peppers was shipped to the Republic of Korea (RoK) by Tien Ngan Trade and Investment Co., Ltd last month.
Recognising the role and importance of developing the collective economy, the northern province of Hoa Binh has promptly issued support policies to propel the development of the economy, making important contributions to local socio-economic development.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
