Unique potentials

Hoa Binh is located in the Northwest region, with a natural area of more than 4,500 km2 and a population of more than 900,000 people. This is the ancient land of Vietnam, one of the cradles of the ancient Vietnamese people.

In Vietnam’s history, Hoa Binh always played an important role in politics, security, national defense and social-economic development.

Hoa Binh is blessed by nature, with great potential, advantages and unique characteristics. It has all types of terrain and ecosystems of the midland and mountainous areas, rich and diverse natural resources, a road transportation system that is relatively convenient, connecting with the northern key economic region, adjacent to the capital city of Hanoi.

Hoa Binh is also home to one of the symbolic works of Vietnam - Hoa Binh Hydroelectric Plant, a symbol of the country's industrialization and modernization. The province has great potential in developing supporting industries, agricultural processing industries, relatively rich mineral resources, especially clay, limestone, coal...

Hoa Binh has a unique culture with 786 intangible cultural heritages; more than 18,000 valuable artifacts of the Hoa Binh Culture, particularly Muong culture with famous heritages such as Mo Muong, the epic “De Dat De Nuoc”, diverse culinary culture with many famous specialties such as Hoa Binh bamboo tube rice, black pig, Da river fish, Muong can wine, Cao Phong oranges, On Chau tangerines, purple sugar cane...

In addition, Hoa Binh province currently has 8 industrial parks and 15 industrial clusters with an abundant labor force, creating momentum for development in the future.

With unique potentials, outstanding opportunities, competitive advantages, rich and diverse resources, convenient infrastructure systems, especially improved transportation networks and industrial zones and clusters, Hoa Binh has enomous potential and advantages for comprehensive development, especially high-tech industries, agriculture, services, and eco-tourism...

Investment in high-tech agriculture

Over the past time, despite many difficulties and challenges, the Party Committee, government and people of Hoa Binh province have shown high determination, promoting the spirit of dynamism, creativity, striving to achieve positive results in all areas.

The province has achieved and exceeded 18/19 major targets. Its gross regional product (GRDP) increased by 9.03% (higher than the country’s average of 8.02%, ranking 24/63 provinces); GRDP per capita rose by 12.01%.

The economic structure is shifting positively. Inflation is controlled, and average CPI in 2022 increased by 3.32%. Budget revenue reached over 6.4 trillion VND, an increase of 14.2%.

Agriculture is well developed; Farmers have good harvests and sell their products at good prices. The forest coverage remains stable at 51.5%.

Industrial production index increased by 14.1%. The electricity production and distribution index increased by 18.73%, contributing to ensuring national energy security.

The fields of culture, society, education, health, and labor are promoted. Social security and people's lives have improved.

Hoa Binh province aims to become the leading province in the Northwest region in terms of GDP growth, with the main growth pillars being eco-tourism, green industry, and clean agriculture. In particular, based on its potentials and advantages, Hoa Binh province will focus on developing a knowledge-based economy and high-tech production with the goal of sustainable development.

Therefore, Hoa Binh always opens its doors to domestic and foreign investors, consistently implementing the motto "Local authorities always accompany the development of investors". Investors will be given the most favorable conditions to successfully implement their projects and ensure sustainable development in the future, making Hoa Binh truly a sustainable destination for investors.

Party Secretary of Hoa Binh Province Nguyen Phi Long said that in 2022, Hoa Binh province had 75 domestically-invested projects approved in policy and granted investment licenses with a total registered capital of about 35,000 billion VND. Compared to 2021, the number of licensed projects increased by 31 projects, with registered investment capital equal to 102.2%.

By the end of 2022, the province had a total of 729 active projects, including 37 foreign invested projects with a total registered capital of about 608 million USD and 692 locally-invested projects with a total capital of about 183,000 billion VND.

Besides preferential policies issued by the central government, Hoa Binh province has launched its own preferential policies such as corporate income tax exemption for the first 4 years, 50% reduction for the next 9 years; exemption and reduction of land rent and water surface rent; import-export tax exemption.

The province has issued policies to encourage investment in the agricultural sector according to Decree No. 210/2013/ND-CP dated December 19, 2013 of the Government, policies to encourage investment in hi-tech agriculture. 

Hoa Binh focuses on attracting investment in high-tech agriculture, manufacturing industry, and processing of agricultural and food products. Regarding trade and services, the province prioritizes developing supply chains and goods consumption. In tourism development, the province prioritizes attracting investment in building national tourist areas, tourism products, and connecting tourist routes.

Thuy An