(HBO) – Production and business activities in Hoa Binh province recorded good growth in 2019, according to the provincial Department of Industry and Trade. Industrial and handicraft firms maintained effective operation, while the industry and service sectors accounted for a higher percentage of the province’s gross regional product. Key products of Hoa Binh posted increases compared to the same period last year and surpassed the year’s plan.
Hoa
Binh-based Sankoh Vietnam Company Limited makes significant contribution to the
province’s industrial growth with its export turnover reaching more than 17
million USD. The firm created jobs for over 1,200 local workers.
The province’s industrial production value
was estimated at 37.39 trillion VND (1.61 billion USD) in 2019, a year-on-year
rise of 15 percent and exceeding the yearly plan by 0.01 percent.
During the year, local firms worked to
reduce reliance on sub-contracting and assembling, while investing more in technology
and production equipment. Garment-textile and electronic component
manufacturing enjoyed high growth.
Notably, the production of electronic
devices posted a 2.27 percent increase year-on-year and surpassed the yearly
plan by 0.05 percent, while lens output saw a 0.84 percent rise against the
same period last year, and surpassed the yearly plan by 0.19 percent.
The output of several products in
processing, manufacturing and mining also saw positive growth. Cement and stone
posted increases of 0.53 percent and 10.53 percent, exceeding the year’s plans
by 5.56 percent and 2.44 percent, respectively./.
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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