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implement solutions to promote socio-economic development, pay attention
to support and remove difficulties for enterprises and people to develop

production and business; at the same time, well implement social security
policies in association with ensuring security, politics, social order and safety.
Therefore, the socio-economic development of Hoa Binh province in 2022
was maintained and achieved the following positive results:
1. Economic growth

Hoa Binh province's economy in 2022 grew by 9.47% compared to
2021, this is the highest growth rate ever. The economic structure shifted

towards reducing the proportion of agriculture, forestry and fishery sector;
increase the proportion of industry, construction and services sectors.
Gross regional domestic product (GRDP) in 2022 at constant 2010
prices reached 32,791 billion VND, up 9.47% over the previous year. In
which: the agriculture, forestry and fishery sector increased by 4.69% and
contributed 1.04 percentage points to the overall growth; the industry and

construction sector increased by 12.88% and contributed 5.30 percentage
points; the service sector increased by 10.11% and contributed 3.12
percentage points; the product tax less subsidies on products increased by
0.05% and contributed 0.003 percentage points to the overall growth.

The scale of GRDP in 2022 at current prices was estimated at 56,640
billion VND. Economic structure: the agriculture, forestry and fishery sector
accounted for 23.07%; the industry and construction sector accounted for
38.13%; the service sector accounted for 33.57%; the product tax less
subsidies on products accounted for 5.23% (corresponding structure in 2021
were: 23.71%; 37.45%; 33.12%; 5.72%).

2. Financial, banking and insurance activities

2.1. State budget revenue and expenditure
State budget revenue in the area in 2022 exceeded the set plan.
State budget expenditures ensured the needs of socio-economic

development, national defense and security, and support people facing
difficulties due to the Covid-19 pandemic, ensuring thrift, efficiency and
compliance with the regime.

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