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(HBO) - After two consecutive years (2019, 2020) of falling short of announced goals in the province’s state budget collection, works for the current year pledge to flourish despite compounded difficulties, thanks to efforts and political determination by all sectors and levels. Accordingly, state budget collection is set to achieve and even out-perform targets.
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This year
witnesses higher import-export tax collection than estimates tasked by Prime
Minister, contributing to bright performing prospects of the province’s state budget
revenues (Photo taken at Hai Hien Bamboo and Wood joint-stock company –
Hoa Binh City).
In 2021, the People’s Council resolution set state budget
collection target in the province at 5.070 billion VND, an increase by 711,6
billion VND from estimates allocated by the Prime Minister (PM), including
domestic revenues of 4.820 billion VND, import-export tax revenues of 250
billion VND. The set target is by all means a hard task given the complex
COVID-19 pandemic creating widespread disruptions. The revenue collection was
also impacted by the implementation of Decree No. 52/2021/ND-CP on tax payment
and land rental deferrals. Moreover, the water levels of Hoa Binh Reservoir
plummeted, leading to drastic drops in power generation, meaning massive
decreases in budget revenues.
Early grasp of challenges as well as clarity in determining
state budget collection as the core political tasks steered the provincial
Party and People’s Committees to promulgate Resolution No. 02-NQ/TU on May 31
2021 to set guidelines for the revenues creation and collection during
2021-2025 period. Departments, sectors, localities are directed to collaborate
closely with tax authorities in state budget collection.
By the end of November, import-export tax revenue alone
reached over 380 billion VND, 190% of assigned estimates by the PM. Domestic
revenues reached 3.570,8 billion, or 86% of estimates by the Government.
Compared to targets set by the provincial authorities, 11 out of 17 categories
of revenues boasted higher than average collection rates, some impressive
increases.
The
Provincial Tax Department is boosting efforts and solutions, including
increased crackdowns trade frauds and smugglings, to outperform the set targets
of state budget collection in the remaining days of the year.
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.
