The infrastructure development and construction project for Nhuan Trach Industrial Park (IP), spanning a total area of 213.68 hectares across Nhuan Trach and Cu Yen communes in Luong Son district, officially broke ground on January 10.
With a total investment of over 2.38 trillion VND (93.75 million USD), the project is developed by Hoa Phu - Hoa Binh Co., Ltd., a subsidiary of Phu My Group, which has successfully invested in multiple industrial zones and clusters in Hanoi and neighboring provinces. The Hoa Binh project is expected to become a destination of success for investors.
The road from National Highway 6 to Nhuan Trach Industrial Park (Luong Son district) is nearing completion.
The park is located in Luong Son district, a dynamic economic hub of Hoa Binh province, about 35 km from Hoa Binh City, 45 km from Hanoi, 60 km from Noi Bai International Airport, and 150 km from Hai Phong Port.
Luu Quoc Khanh, Deputy General Director of Hoa Phu - Hoa Binh Co., Ltd., said company is accelerating the construction of key infrastructure components at the park, which is expected to attract projects in precision engineering, textile-garment, electronics, pharmaceuticals, food processing, woodworking, and packaging printing, using high, green technologies.
Once operational, it would generate up to 30,000 direct jobs and approximately 10,000 indirect jobs through commerce and services, benefiting labourers in the locality and neighboring provinces. In addition to tax incentives, the provincial People’s Committee has committed to supporting businesses with recruitment and training.
Hoang Van Bay, Vice Chairman of the Nhuan Trach commune People’s Committee, said the commune will enhance coordination with relevant agencies in the district to promote vocational training for rural workers, ensuring a skilled workforce for businesses in the industrial park while also generating job opportunities for local residents.
The provincial People's Committee has paid due heed to investment in the transportation infrastructure and power system to facilitate the park’s operation. Currently, the construction of the road from National Highway 6 to the park is being expedited. With these favourable conditions, the park is expected to begin attracting secondary investors by mid-2025.
Hoa Binh HKK Knitting Co. Ltd., located in the Hoa Binh Left Bank Industrial Zone, employs nearly 500 local workers with an average monthly salary of 8 million VND (3,150 USD).
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.
