Despite impacts from the complicated developments in the region and the world, Hoa Binh saw good signals in import-export activities in the first half of 2024.
Leaders of the Hoa Binh Department of Industry and Trade and delegates attend a ceremony to send Bat Bao Minh Trung lotus porridge products to the Czech Republic.
In the first half of this year, Hoa Binh’s export revenue hit 969.6 million USD, a surge of 26.48% year on year, while imports reached 685.51 million USD, up 17.93% over the same period last year.
Of the total, exports of electronics products reached 443.45 million USD, accounting for 45.74%, while that of the textile sector was 317.19 million USD, the metal group 23.930 million USD, the agricultural group 7.878 million USD, and the other goods group 177.147 million USD.
Currently, Hoa Binh has 66 enterprises engaging in import-export activities of five major goods groups - electronic components (17), textile and garment (21), metals (2), agriculture (9), and other goods group (17).
In addition to traditional products such as electronic components and textiles, Hoa Binh has successfully expanded the export of typical agricultural products to foreign markets such as sugarcane and Dien grapefruit, red-flesh pomelo to the US, the UK and the EU; Bat Bao Minh Trung lotus porridge to Japan and the Czech Republic; Son Thuy longan to the EU; bamboo shoot to Taiwan (China); and Cao Phong orange to the UK, thereby opening up many new opportunities for the province's agricultural products.
The results were attributed to the province and local firms’ efforts to improve designs, increase product quality, and take advantage of opportunities brought about by integration, especially new generation free trade agreements (FTAs), to promote exports.
In the first six months of this year, the provincial Party Committee, People’s Committee, and local enterprises actively engaged in many international trade promotion events in many countries, thus establishing partnership with foreign partners and expanding export markets.
At the same time, the locality has worked to simplify administrative procedures, reducing time and cost for exporters, while improving its business environment, and making investment in upgrading the transport and logistics infrastructure system.
In order to maintain and promote the growth pace in the rest of the year, the province’s industry and trade sector will concentrate on consulting local authorities on grasping the import-export activities of local firms, removing difficulties and obstacles facing them during exporting and business process, and supporting in expanding and diversifying markets and taking advantages of FTAs, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam-EU FTA (EVFTA), and Vietnam-UK FTA (EKVFTA).
At the same time, the sector will introduce a handbook on origin regulations in the EVFTA applicable to exports of Hoa Binh province and update local firms with information and emerging issues relating to the FTAs that Vietnam is joining.
With funding from the National Target Programme for socio-economic development in ethnic minority and mountainous areas, localities in of Hoa Binh province have invested in essential infrastructure which helps improve local people's lives.
Hoa Binh city has allocated 654 million VND (nearly 26.200 USD) for supporting the protection and sustainable development of 507ha of natural forest to carry out Project 3 on sustainably developing agricultural and forestry production to tap into the potential and advantages of regions to produce goods in value chains.
With the Mid-Autumn Festival nearly a month away, various kinds of mooncakes from popular brands like Kinh Do, Huu Nghi, and Hai Ha have been put on sale at the local shopping malls and business establishments.
In addition to livestock farming, cultivation, and agricultural production, Dao ethnic minority people in Ba Ra hamlet in Hung Son commune of Kim Boi district have also engaged in forestry-based livelihoods, especially bamboo shoot planting.
The Hoa Binh Steering Committee for State Budget Collection on August 15 held a conference to assess the results of state budget revenue between January and July. The conference was chaired by vice chairman of the provincial People's Committee and head of the Steering Committee Quach Tat Liem.
On August 16th, the Community Development Project in Hoa Binh City, under the Good Neighbors International (GNI) Organization, provided 1,300 soapberry seedlings to the Lemongrass Farming Group in Dong Chua Hamlet, Thong Nhat Ward, Hoa Binh City.
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