(HBO) – Striving to maximise advantages brought about by free trade agreements so as to expand export markets, especially for high added-value products to markets that are on the course of prompt recovery after COVID-19, Hoa Binh posted positive results in exports-imports in the first quarter of 2022.
Export revenues hit 361.85 million USD in the
period, enjoying a year-on-year surge of 86.13 percent and reaching 25.18
percent of the year’s plan.
Photo: In the first three months, Esquel
Vietnam garment-textile company in Hoa Binh’s Luong Son industrial park strived
to restore production to contribute to the provincial export revenues.
Export turnover of electronic products was
estimated at 208.12 million USD, expanding 101.01 percent against the same
period last year and accounting for 57.5 percent of total revenues.
Garment-textile raked in 106.23 million USD in Q1, up 52.28 percent and making
up 29.35 percent.
It is worthy of note that the export of farm
produce also saw recovery, but only made up 5 percent in the total exports and
did not align with the province’s potential. Hoa Binh’s products were mainly
shipped to traditional markets of the US, Europe, China, the Republic of Korea,
Japan, Russia and ASEAN nations.
Also in the quarter, the province imported
goods worth nearly 272.47 million USD, rising 72.56 percent compared to the
same period last year and hitting 24.84 percent of the year’s plan./.
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.
