Developing a knowledge-based economy is an inevitable trend, ensuring the country's rapid and sustainable development. The 13th Party Congress affirmed the significance of developing a knowledge-based economy associated with the 4th Industrial Revolution in the cause of innovation, realizing the goal of turning Vietnam into a modern industrialized country.

To develop the knowledge-based economy, apply scientific and technological achievements in various fields in order to increase productivity, improve quality, efficiency and create competitiveness of the economy, the 13th Party Congress stated the development perspective for the country's economy: "Fast and sustainable development relies mainly on science and technology, innovation and digital transformation. It is necessary to renew thinking and action, proactively grasping and effectively taking advantage of opportunities of the 4th Industrial Revolution in association with The process of international integration to restructure the economy, develop digital economy, digital society, consider this a decisive factor to improve productivity, quality, efficiency and competitiveness".

To create changes in investment attraction, Hoa Binh province has drastically improved the business investment environment in the direction of openness and transparency; trying to build a dynamic government apparatus, serving the interests of the people, businesses and the province’s development. The above solutions help not only gradually remove barriers in attracting investment but also create momentum for the local economy to develop quickly and sustainably.

In particular, the province has been making efforts to promote investment attraction associated with developing the knowledge-based economy, aiming at the goal of sustainable development in the spirit of the Resolution of the 13th Party Congress.

Hoa Binh province has a strategic position, being the gateway to the Northwest region, the bridge between the Northwest region with Hanoi and the Northern delta provinces. It is also rich in patriotic and revolutionary traditions, a place that preserves many unique cultural values ​​of ethnic minorities, particularly the Muong ethnic group, with famous cultural heritages such as Mo Muong and the Epic “De Dat De Nuoc”.

The province also has many potentials and advantages in terms of natural resources, the network of rivers and streams favorable for hydropower development and tourism. It is home to the Hoa Binh Hydropower Plant - one of the century work, a symbol of the industrialization and modernization of the country.

In the period of 2021 - 2025, the province will continue to promote industrialization and modernization on the basis of science and technology, innovation and technological achievements of the 4th Industrial Revolution; to step up the development of a number of key economic sectors and fields, which have potentials and advantages and have great room for growth; to promote the development of the digital economy, digital society, smart production, new business and production models, the sharing economy, and e-commerce.

To accomplish the above tasks, organizations and enterprises in the field of science and technology will play a pioneering role, creating technological products for application in socio-economic development. Therefore, the provincial government will create favorable conditions to develop science and technology, promote research and development activities, encourage the development of new business models, the digital economy and digital society.

The province will clearly define targets and action programs for the application and development of science, technology and innovation in the socio-economic fields; accelerate administrative reform, create a healthy business environment, and unleash creative possibilities to make key and breakthrough steps in order to arouse the strength of the great unity of the whole people to enter the knowledge-based economy;

To improve the effectiveness and efficiency of the administrative apparatus at all levels; Clearly define the functions, powers and legal responsibilities of the Party's organizational apparatus, organizations of the legislative, executive, and judicial systems as well as other parts of the political system to develop the knowledge-based economy;

To develop and improve the quality of human resources to meet the requirements of the real life: In the era of the 4th Industrial Revolution, the development of a team of leading experts and scientists, technical human resources, digital human resources, technology management human resources, management human resources, corporate governance, social management human resources is an important task.

The province will encourage the contingent of civil servants, public employees, armed forces, managers, engineers and senior workers in key economic sectors to self-improve their knowledge and skills to not only meet the requirements of the job but also orient the sustainable development of their fields in the future, arousing the desire to develop a prosperous and happy country;

Implement synchronous policies to attract investment and financial policies to encourage the development of industries with high added value, which use less resources and energy, and minimize environmental pollution; build advanced infrastructure – technology; invest in science and technology, promoting innovation and synchronous development of the digital economy, aiming to build high-quality infrastructure to serve people's lives such as smart cities, online services...;

Develop and upgrade information technology infrastructure, telecommunications networks and the internet, improve the level of network connectivity; develop and perfect telecommunications and information technology infrastructure in a broad, multi-media direction to promote the development of e-commerce, e-government, e-education, e-health;

Apply high technology in the production organization of a number of industries with a spillover effect, leading the transformation of industry structure, improving competitiveness and participating in the global industrial value chain; accelerate digital transformation in a number of industries and fields, especially small and medium enterprises; apply and develop new technologies, prioritize digital technology, artificial intelligence, internet of things, network security, clean energy, environmental technology... to transform and improve productivity, efficiency of the economy;

Apply information technology in rural development: Developing and implementing appropriate solutions to disseminate digital information to households, which has great significance for the country’s development toward a knowledge-based economy; Bringing knowledge and information to the grassroots levels, applying information technology to narrow the geographical and knowledge gap for people in remote, isolated and disadvantaged areas.

At the same time, the province has correctly identified four strategic breakthroughs to synchronously, comprehensively and effectively implement the Resolution of the Party Congress at all levels.

In 2021, Hoa Binh well implemented the task of socio-economic development, basically completed its goals, achieved and exceed many socio-economic indicators. Despite many difficulties, its budget revenue increased by 23% compared to 2020. Nine communes reached the criteria for the new rural areas, bringing the total number of communes of this kind to 65, accounting for 53.3% of the total number of communes. Three districts have completed the task of building new countryside (ranked 3rd in the Northern midland and mountainous provinces, and the first among the Northwest provinces in terms of new rural construction).

The province’s economic structure has changed positively. Hoa Binh has also implemented well four strategic breakthroughs on administrative reform, improving investment environment, planning and planning management, development of technical and social infrastructure, human resource development associated with job creation and improving labor productivity.

At the same time, the local authorities have listened to, shared and accompanied with businesses and investors to remove difficulties for them. The province has issued many mechanisms and policies to create a legal corridor to improve management efficiency, attract investment capital.

Hoa Binh is now home to many large projects, with investment capital from 3,000 to 4,000 billion VND, and some projects with up to 10,000 billion VND. Most of the biggest Vietnamese investors have been investing in Hoa Binh, including Vingroup, Sun Group, and T&T Group. By June 30, 2022, the province had 681 operating projects, including 37 foreign-invested projects with a total registered capital of about 600 million USD and 644 domestically-invested projects with a total registered capital of about 143,810 billion VND.

Hoa Binh's goal is to gradually improve the efficiency of investment projects; effectively mobilize and use resources to develop the local economy quickly, comprehensively and firmly. The province also strives to reach an average annual economic growth rate of 9% or more in the period of 2021 - 2025; attract a total registered investment capital of about 80,000 billion VND from domestic investors and about 1 billion USD of foreign direct investment capital.

Quynh Nga