Hoa Binh achieves record-breaking economic growth in Q1

4/12/2025 - 11:28:16 AM

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.

The Long Hung wood production, trade and services factory in Thanh Cao commune, Luong Son district, which became operational at the beginning of 2025, contributes significantly to job creation, economic growth, and economic restructuring.

According to the provincial Statistics Office, the gross regional domestic product (GRDP) in Q1 rose by 12.76% year-on-year. Sector-wise, agriculture, forestry, and fisheries expanded by 4.19%; industry and construction surged by 27.18%; and services up 5.91%. Meanwhile, product taxes saw a decline of 5.64%. The GRDP structure consisted of 16.5% from agriculture, forestry, and fisheries; 44.58% from industry and construction; 34.6% from services; and 4.33% from product taxes. This notable growth marks the first time in the current term that Hoa Binh has recorded such a high growth rate.

Positive momentum was observed across all economic sectors. By the end of March, provincial budget revenue was estimated at 2.35 trillion VND (91.4 million USD), equating to 114.21% of the same period last year, and fulfilling 42.11% of the Prime Minister’s assigned target and 33.19% of the provincial People's Council’s annual plan. The consumer price index rose by 1.21% year-on-year in Q1.

Investment activity also recorded an uptick, attributed to the synchronised construction of major infrastructure projects such as Hoa Binh–Moc Chau Expressway, the Hoa Binh–Hanoi regional link, and Son La Expressway. In addition, foreign-invested enterprises are accelerating the completion of construction components to begin operations in Q2.

In Q1 alone, 104 new businesses were established with a combined registered capital of approximately 800 billion VND—representing 101% of the number of newly registered firms and 20.4% of the registered capital compared to the same period last year. The province also approved 10 new investment projects and adjustments to 20 existing ones, with total registered capital exceeding 3 trillion VND. Furthermore, 31 urban infrastructure and commercial housing projects were approved through land use right auctions and investor bidding, amassing almost 11.1 trillion VND in registered capital.

These achievements lay a solid groundwork for Hoa Binh to meet its annual growth target of over 10%.

To maintain this momentum, the provincial Party Standing Committee is pushing forward with power decentralisation and administrative reforms, aiming to cut down the time needed for processing procedures in planning, construction, investment, and land use. Hoa Binh is also actively resolving bottlenecks in off-budget investment projects and aims to disburse at least 95% of its 2025 public investment capital. Other priorities include promoting trade and tourism, supporting the business community, enhancing tax collection efficiency, and working with Vietnam Electricity (EVN) on the operational mechanism for the Hoa Binh Hydropower Plant. Cultural preservation linked to tourism development, along with national defence and security, also remain high on the agenda.

Provincial Party Secretary Nguyen Phi Long has underscored the importance of advancing the province’s five strategic breakthroughs in 2025. He called for expediting the launch of key infrastructure projects. For the Hoa Lac–Hoa Binh Expressway expansion, all administrative procedures must be streamlined to enable a groundbreaking ceremony on July 1, with site clearance in Hoa Binh city targeted for completion within 90 days. For the Hoa Binh–Moc Chau Expressway section through Mai Chau and Da Bac districts, readied clearance must be handed over to the provincial transport project management board byApril 15 to facilitate construction.

The province stays committed to a principle of "unwavering, continuous effort”, with a focus on timely land clearance, resettlement, and compensation to speed up project implementation. All timelines must be strictly adhered to. Hoa Binh also intends to fast-track public investment disbursement and administrative approval procedures in 2025. Local authorities have also been instructed to prioritise social welfare and address substandard housing.

The provincial Party Secretary further urged agencies to resolve lingering issues impeding major projects, accelerate the progress of key regional transport and urban infrastructure developments, and promote the development of cultural and social facilities. Emphasis was placed on mobilising social resources to support strategic infrastructure investments. Relevant departments have been directed to urgently coordinate with central ministries to finalise investment procedures, ensuring all projects progress in accordance with directives from the provincial Party Committee, the provincial People's Committee, the Government, and the Prime Minister.

Six-month industrial production index estimated to rise 20%

According to data from the Hoa Binh Provincial Party Committee, the industrial production index for the first six months of 2025 is estimated to have increased by 20% compared to the same period last year. This marks the highest year-on-year growth rate for this period since 2020.

Exports exceeded 1.1 billion USD in 6 months

In the first six months of 2025, Hoa Binh province’s export turnover was estimated at 1.145 billion USD, marking an 18.11% increase compared to the same period in 2024. Import turnover was estimated at $ 804 million, a 17.15% increase, which helped the province maintain a positive trade balance.

The effectiveness of professional models of association and group in Tan Lac district

The lives of the ethnic minority farmers in Tan Lac district have gradually improved thanks to the new directions in agricultural production. This is a testament to the collective strength fostered through the professional associations and groups implemented by various levels of the district’s Farmers’ Union.

Building the brand of Muong village clean food

With the motto the "product quality comes first,” after nearly one year of establishment and operation, Muong village’s Clean Food Agricultural and Commercial Cooperative, located in Cau Hamlet, Hung Son Commune (Kim Boi district), has launched reputable, high-quality agricultural products to the market that are well-received by consumers. The products such as Muong village’s pork sausage, salt-cured chicken, and salt-cured pork hocks have gradually carved out a place in the market and they are on the path to obtaining the OCOP certification.

Hoa Binh ethnic farmers join forces through collective economic models

In the past, the phrase "bumper harvest, rock-bottom prices" was a familiar refrain for Vietnamese farmers engaged in fragmented, small-scale agriculture. But today, a new spirit is emerging across rural areas of Hoa Binh province - one of collaboration, organisation, and collective economic models that provide a stable foundation for production.

Maintaining farming area codes: Key to bringing Hoa Binh farm produce to global market

Maintaining growing area codes and packing facility codes in accordance with regulations is a mandatory requirement for agricultural products to be eligible for export. Recently, the Department of Agriculture and Environment of Hoa Binh province has intensified technical supervision of designated farming areas and packing facilities to safeguard the "green passport" that enables its products to access international markets.