Hoa Binh province posts GRDP growth of 12.7% in Q1

Northern Hoa Binh province posted a GRDP growth of 12.7% in the first quarter of the year, according to a  report from the provincial People’s Party Committee.

Sector-wise, agriculture, forestry, and fisheries expanded 4.19% year-on-year; industry and construction surged 27.18%; and services up 5.91%.

The industrial sector made an important contribution to the province’s growth with the Index of Industrial Production (IIP) soaring 33.32% compared to the same period last year.

Import-export activities recorded positive growth with total export revenue reached over $554.2 million, up 16.06% year-on-year.

In the three-month period, the province approved 10 new investment projects and allowed the adjustment of capital investment for 20 projects, totaling over VND3 trillion ($115 million).

The province is so far home to 750 active projects, including 39 foreign-invested projects with total investment capital of more than $522.55 million.

The provincial authorities set a growth target of over 10% for 2025.