In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
The Nakata Vietnam Packaging joint Stock Company in Phu Thanh II Industrial Park (Lac Thuy) creates jobs and stable income for many local workers.
The industrial and handicraft sectors continue to serve as pillars of the district’s socio-economic development. These sectors have contributed significantly to agricultural and rural transformation, job creation, economic growth, and structural shift. Local businesses are increasingly investing in technological innovation and brand building to enhance competitiveness and expand export capacity.
In 2024, the district’s industrial and handicraft production was valued at 3.98 trillion VND (about 154.1 million USD), marking a 123.3% increase compared to 2021. This sector now accounts for 38.4% of the district’s economic structure, with an impressive annual growth rate of 19.75%.
Since 2021, Lac Thuy has attracted 10 investment projects with a total capital of 2.4 trillion VND. One project has already become operational, while the others are in the process of completing investment procedures. The district is home to five industrial clusters (ICs), spanning a total area of 282.25 hectares. These clusters have welcomed 19 investors, achieving an occupancy rate of 40.34%. Over 1 trillion VND has been invested in IC infrastructure development.
Industrial production in the district has seen participation from various economic sectors, leading to a shift toward goods aligned with local strengths. Many enterprises, cooperatives, and production facilities have adopted technological advancements through district-supported programmes, scientific research, and annual funding. These efforts have helped improve product quality and design, making them more competitive in the market.
With a vision of making industry a core driver of high, sustainable, and effective economic growth, and a catalyst for the development of other sectors, Lac Thuy plans to increase budget allocations for site clearance, urban planning, investment attraction, and trade promotion for industrial clusters. Investors are also encouraged to pre-finance land clearance in return for land lease incentives.
To foster a transparent and investor-friendly environment, the district regularly updates its e-portal with information on local potential, opportunities, investment procedures, and legal documents. It supports enterprises in organising investment promotion activities and maintains regular dialogues between local authorities and the business community. Efforts are also underway to strengthen e-government services, streamline administrative procedures, and reduce processing times.
Lac Thuy is committed to building a professional, efficient, and business-friendly team of public servants, shifting from a passive administrative mindset to one of proactive business support. The district also continues to promote local products through supply-demand connection programmes and trade fairs.
Vice Chairwoman of the district People's Committee, Hoang Thi Thu Hang, emphasised that in the time ahead, the district will prioritise attracting industries that apply modern, advanced, and environmentally friendly technologies. Local businesses, particularly small and medium-sized enterprises, will be supported in accessing financial and credit resources to expand production and adopt science and technology in their operations.
Enterprises, cooperatives, households, and individuals will be encouraged to form partnerships that attract investment in industrial and handicraft development, while also preserving and enhancing traditional craft industries.
With the motto "product quality comes first," the Ban Muong Clean Food Agricultural Cooperative in Hung Son commune, Kim Boi district, has gained consumers’ trust after nearly a year of operation. Their products, including Ban Muong Vietnamese pork sausage and ready-to-eat salt-cured chicken and pig's trotters, are gradually establishing a solid market presence, with efforts underway to complete their One Commune-One Product (OCOP) certification process.
As large investors and projects play a crucial role in optimising local potential and advantages, Hoa Binh province has established a steering committee to promote major projects and foster progress. With strengths in agriculture, industry, and tourism, the province is positioning itself as an emerging investment destination in northern Vietnam.
The recent groundbreaking of a luxury eco-urban complex and cable car system in Cuoi Ha and Kim Boi communes of Kim Boi district, invested by Hoa Binh Sun Co. Ltd., is a demonstration of Hoa Binh province’s steadfast commitment to improving its investment environment. This flagship project exemplifies the province's ambition to become a leading destination for major domestic and international investors.
May 2025 marked a pivotal moment in Vietnam’s national development journey as the Politburo issued Resolution 68 on the development of the private economy. More than just a policy directive, this resolution represents a revolution in economic thinking and institutional reform, paving a promising "avenue” for the private sector’s growth.
Once seen as an industrial "zero" at the time of its re-establishment in 1991 and the following years, Hoa Binh province has undergone a remarkable transformation, emerging as a dynamic industrial hub in Vietnam's Northwest gateway region.
In Lac Thuy district, communes have been succeeded in promoting their One Commune-One Product (OCOP) products while others are still struggling to position their typical farming products in market. Some communes in the district still fail to have their products met OCOP programme’s requirements, while others have seen their certifications expired.
