The State budget collection in Hoa Binh province has received constant attention and directions from the provincial Party Committee, People’s Council and People’s Committee, the Ministry of Finance and the General Department of Taxation, along with effective coordination from all-level administrations and sectors.
By the end of May 2024, the state budget revenue was estimated at 2.88
trillion VND (nearly 113.23 million USD), equivalent to 71% of this year’s
target set by the Prime Minister, 50% of the target set by the provincial
People’s Council, and 196% of the figure in the same period last year.
Hoa Binh has
recorded relatively good budget collection from many sources such as the
foreign invested sector, the industry, trade and non-state sectors, personal
income tax, environmental protection tax, charges, fees, and land use fees.
The state budget collection so far this year has
posted breakthroughs compared to the same period last year. However, it is a
fact that revenue sources remain unsustainable and still depend much on land
use fees and the Hoa Binh Hydropower Company. Meanwhile, tax arrears remain
very high. Two-thirds of the 2020 - 2025 tenure has passed, but Hoa Binh failed
to achieve the budget collection targets for some years. Therefore, it is hard
to reach the revenue target of 10 trillion VND for 2025.
At many forums and meetings, the provincial
Party Committee, People’s Council, and People’s Committee discussed causes of
the poor performance in budget collection. One of the main causes is that the
nurturing of revenue resources remains limited. Changes in the collection
policy in recent years also form one of the causes. Others include the slow
implementation of industrial park and cluster projects, ineffective investment
attraction, some investors’ weak capacity, and businesses’ small and medium
sizes, limited financial capacity, and slow recovery from impacts of the
COVID-19 pandemic.
The state budget collection plays a highly
important role in ensuring resources for local socio-economic development.
Increasing the revenue aims to improve the quality of people’s life, build
modern and comprehensive infrastructure, guarantee local budget efficiency, and
gradually reduce the dependence on support from the government. Therefore, it
is considered a task of leading importance.
To speed up the state budget collection to
fulfill this year’s task and secure collection sustainability, the Hoa Binh
steering board for promoting the state budget collection and contribution said
firstly, it is necessary to complete zoning plans to serve as the basis for
implementing projects. It is important to accelerate land auctions, land use
fee collection, and the re-organisation of state agencies’ properties;
implement comprehensive measures to strictly manage local revenue sources; and enhance
inspection and examination to prevent tax losses and evasion so as to bring tax
arrears to less than 8% of the total state budget collection.
Another measure is to step up communications and
tax management over online business, e-commerce, telecommunication and internet
services, and especially the use of e-invoices.
The province’s viewpoint is to diversify revenue
sources to promote economic sectors’ contributions to the state budget and
ensure collection sustainability.
As enterprises, cooperatives, and investment
projects are the main and long-term source of budget collection, authorities
also need to create favourable conditions for those taxpayers to operate
profitably to nurture revenue sources.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
Amid efforts to streamline the administrative apparatus, Hoa Binh province has intensified measures to address challenges in land clearance, resettlement support, and infrastructure investment, aiming to speed up the progress of key projects.
Hoa Binh province has posted an unprecedented economic growth rate of 12.76% in the first quarter of 2025, marking its highest quarterly performance to date and positioning it as the second fastest-growing locality in the country, trailing only Bac Giang province.
Under current regulations, products in the One Commune – One Product (OCOP) programme that are rated three stars or higher must undergo re-evaluation every three months. However, in reality, some of these products fail to consistently meet the required standards, raising concerns about the sustainability of their OCOP certification. This underscores the urgent need for producers to enhance product quality and gradually develop their OCOP products into strong, marketable brands.
