HBO – The Hoa Binh province branch of the Bank for Agriculture and Rural Development of Vietnam (Agribank), the Agribank branch in Son La province, and Xuan Thien Son La Limited Company have signed a credit contract for the Suoi Sap 2A Hydro-power plant project.
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The Suoi Sap 2A
Hydro-power plant project has a capacity of 49.6MW with two turbines. It is
being built by the Xuan Thien Son La Limited Company in Ta Xua and Phieng Banh communes
in Son La’s Bac Yen district.
Leaders of Agribank-Hoa Binh,
Agribank-Son La and Xuan Thien Son La Limited Company sign the credit contract
on Suoi Sap 2A Hydro-power plant project.
The total investment
of the project is 1.562 trillion VND (excluding VAT), of which 694 billion VND is
contributed by the investor, and 868 billion VND is sourced from loans from
Agribank Hoa Binh (347.2 billion VND) and Agribank Son La (520.8 billion VND).
Construction on the
project began in October 2018 and is expected to complete in August 2022. Once
operational, the project is expected to generate electricity for the national
grid, contribute to the State budget and the locality’s socio-economic
development.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
Hoa Binh province has mobilised all resources to propel local agricultural products to make inroads into foreign markets, towards lifting the export turnover of key agricultural products to 137.8 million USD by 2030, accounting for 3.4% of the locality’s total export value of goods.
The locality aims to export farm produce to the US, the European Union, the UK, China, Japan, and the Republic of Korea.
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