(HBO) - While COVID-19 was raging, production and business activities at many enterprises in Hoa Binh province were disrupted due to falling market demand or rising raw material prices and input costs. The introduction of pandemic prevention and control measures affected the production and distribution of goods, resulting in job insecurity and lower incomes for many workers. Businesses and cooperatives also found it difficult to access bank capital and rent production land.
To help businesses recover and develop production quickly,
the Provincial People’s Committee directed reductions of and payment extensions
to corporate income taxes. Photo taken at the Hai Hien Bamboo and Wood joint
Stock Company in the Mong Hoa Industrial Park, Hoa Binh City.
Chairman of the
Provincial Business Association Nguyen Cao Son said businesses operating in Hoa
Binh are mainly of small or micro-size, so were heavily affected by COVID-19,
especially by difficulties in investment capital and bank interest rates. Many were
unable to operate for long periods but still had to repay bank loans. They
therefore hope to receive direct support regarding interest rates to ease the financial
burden.
Replying to business
wishes, the Provincial People’s Committee has focused on resolving difficulties
facing enterprises and cooperatives and accelerating the recovery and
development of production and business activities. A number of solutions have
been determined, including the reduction of tax for businesses. In addition,
the Provincial People’s Committee has directed the implementation of 2 percent
per annum interest rate support for 2022 and 2023 for commercial loans for businesses,
cooperatives, and business households.
Along with
practical tasks and solutions being urgently deployed in the field of social
security and employment, Hoa Binh province has also mobilised and effectively
used resources and investment in infrastructure development, promoted
administrative reform, and improved the business investment environment,
boosting growth drivers and striving to reach targets set for the 2021-2025 period,
in which average annual gross regional domestic product (GRDP) growth is to be 9
percent./.
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.
