Agriculture, rural areas attract more investment

As of the end of 2017, Hoa Binh counted 55 investment projects in agriculture and rural areas with combined capital of more than 14.5 trillion VND, accounting for 11.2 percent of the total investment projects in the province. The surge in number of firms investing in agriculture and rural development after many years is a positive sign in the province’s economic situation.

An investment project building a farm at the core of a regional linkage to raise breeding cows is carried out in Tan My commune, Lac Son district

Hoa Binh has many favourable conditions for agricultural production, particularly in the cultivation of fruit trees and the raising of cattle and poultry. During 2008-2017, out of 2,587 firms and investors granted business licences, 174 were involved in agriculture and rural development, or 6.7 percent of the total.

The increase in number of firms choosing to operate in agriculture is attributable to the implementation of State policy, which won approval of the business community. Since 2008, the provincial People’s Committee has licensed 47 investment projects in agriculture and rural development, using a total 27,000 ha of land and more than 5 trillion VND.

Projects in agriculture and rural development are mostly farms raising cattle/poultry and fish, and planting forests, clean vegetable/fruits and medicinal herb. Some examples are the pig raising farm using bio-technology in Lac Thuy, the farm combining high-yield chicken raising and fruit tree and medicinal herb planting in Yen Thuy, the farm and a regional linkage to raise breeding cows in Lac Son, and the forest planting project during 2012-2020 by the Hoa Binh Forestry One Member Ltd Co.

According to statistics, firms operating in agriculture and rural areas have an average annual income of 1.6 billion VND, and their workers have an average monthly salary of 4 million VND. They have created jobs for more than 9,000 local workers, and contributed more than 45 billion VND a year to the State budget./.