The economic landscape of Hoa Binh province continued its impressive upward trajectory through the first four months of 2025, according to a recent report from the provincial Department of Finance. The local authority has directed departments and sectors to keep close tabs on growth scenarios for each quarters and remove bottlenecks, striving to complete the set growth targets.
Xuan Thien Hoa Binh Company Limited begins construction on the Xuan Thien lime and lightweight powder manufacturing plant in Lac Thuy district.
The economic situation in April and the first four months of 2025 has maintained stable and shown acceleration compared to the same period in 2024, stated Vu Duc Dung, Deputy Director of the Department of Finance, adding state budget revenue reached some 2.74 trillion VND (105.56 million USD), representing 38.7% of the target set by the provincial People's Council.
The industrial sector played a pivotal role in the province's overall economic expansion, particularly in electricity production. April's index of industrial production increased by an estimated 15.5% compared to the same period last year. Electricity output for April reached an estimated 502 million kWh, with the four-month projection at 2,045.7 million kWh.
Meanwhile, total retail sales of consumer goods was estimated at over 1.93 trillion VND in April, a 2.45% increase from March and 21.5% growth compared to April 2024. Export performance was impressive, with four-month exports valued at some 745.9 million USD, or 31.59% of the annual plan and a 16.57% increase from the same period last year.
Investment promotion and business climate improvement efforts yielded significant results, with 21 new projects approved and 23 projects receiving adjusted investment approvals since the beginning of the year. These projects represent a total registered capital of 7.1 trillion VND, up 6.8 trillion VNDcompared to the same period in 2024.
The province broke ground on the Xuan Thien Hoa Binh lime and lightweight powder factory in Lac Thuy district, a provincial flagship project with a total investment of over 8 trillion VND in April.
Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Bui Duc Hinh emphasised that maintaining this growth trajectory requires continued focus on harmonious measures, with special attention being given to revenue-increasing measures and resolving difficulties to boost earnings from land use rights auctions. The province is also speeding up public investment disbursement while aggressively clearing sites for the implementation of key projects.
The provincial People’s Committee commits to accompanying enterprises, carrying out solutions to improve the business climate and competitive capacity, he said, stressing the province will actively address challenges and create favourable conditions for businesses to develop their operations in the locality.
Hoa Binh aims to achieve economic growth of at least 10% and a gross regional domestic product of over 104 trillion VND in Quarter 2.
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.
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 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.
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.
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 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.
