(HBO) – The northern mountainous province of Hoa Binh exported 791.9 million USD worth of goods and services in 2019, an increase of 24.48 percent from a year earlier, fulfilling the province’s yearly target.
The R Technical Research Vietnam contributes
largely to Hoa Binh’s total exports.
Exports of goods
reached 749.9 million USD, up 25.59 percent year on year while those of services grew 7.55 percent to 42 million USD. About 90.6
percent of the total export revenue was generated by FDI enterprises.
Among the
northern midland and mountainous provinces, Hoa Binh ranked fifth in exports
and sixth in exports per capita.
Last year, the
province has taken a number of measures to boost exports. For example, it has accelerated trade
promotions by organising many
trade fairs and exhibitions across the province. Local enterprises were
assisted to take part in trade fairs and
exhibitions both in the country and overseas to promote trade and promising exportstaples, such as processed
food, aquatic products and farm produce.
A number of the
province’s products have gained a stronger foothold on traditional markets like the EU, the US, the
Republic of Korea, Japan and China and make inroads into new markets.
Hoa Binh has made
efforts to attract investment, particularly foreign direct investment (FDI), to
expand production and increase the volume of goods for exports.
So far, the province
has had more than 30 exporters. The Asian region was the province’s largest market, accounting for 35.15
percent of the total exports, followed by the EU (15.47 percent), the North
America (15 percent) and the Eastern Europe (1.53 percent).
Local companies
have focused more on investing in e-commerce, personnel training, and official
websites to effectively attract customers and develop export markets./.
Appreciating the abundant potential and strengths of his hometown for tourism development, Ha Cong Hung, Deputy Secretary of the youth union of Mai Chau district’s Mai Hich commune, embarked on producing smoked meat with a desire to introduce his homeland's specialty to domestic and international tourists.
Hoa Binh farmers are investing big in their chilli pepper cultivation areas after the first batch of 7.5 tonnes of pickled chilli peppers was shipped to the Republic of Korea (RoK) by Tien Ngan Trade and Investment Co., Ltd last month.
Recognising the role and importance of developing the collective economy, the northern province of Hoa Binh has promptly issued support policies to propel the development of the economy, making important contributions to local socio-economic development.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
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.