Solid foundation from potential and advantages
Hoanh Son was established on the basis of arranging three wards: Ky Lien, Ky Phuong and Ky Nam - areas that are closely associated with many national key industrial projects. The particularly favorable geographical location, both as a gateway connecting the North and the South and located entirely in the Vung Ang Economic Zone, has given Hoanh Son a rare advantage for developing industry, services, trade and tourism.
Development practices over the past years have shown that, despite facing many difficulties from the COVID-19 pandemic to global economic fluctuations and challenges when merging administrative units, the local economy has remained stable and grown quite well. The growth rate of total product value reached 13.82%, the economic structure has shifted in the right direction: agriculture gradually decreased, industry - construction and trade - services increased strongly.
The whole ward currently has 302 enterprises with a total registered capital of more than 3,878 billion VND, hundreds of individual business households; 58 domestic and foreign investment projects, including 26 domestic investment projects with a total registered capital of 2,536 billion VND and 32 foreign investment projects with a total registered capital of 21,467 million USD, which is clear evidence of the attraction of this young industrial land.
Notably, a series of large projects are being and will be implemented in the area such as PV Power electricity, PV Gas LNG warehouse, stainless steel factory of Singvin - Son Ha joint venture, Vingroup resort and golf course and most recently the Ha Tinh - Vietnam Steel Processing Factory project... are expected to create a strong spillover effect, not only in industrial production but also in expanding urban, service and commercial space.
Mr. Pham Van Hung - Standing Deputy Secretary of the Hoanh Son Ward Party Committee affirmed: "Our goal is to turn location advantages and large projects into driving forces for urban development and improving people's lives. Economic development must go hand in hand with social security and environmental protection, so that Hoanh Son is not only rich but also civilized and sustainable."
Private economic development – strategic breakthrough
Developing the private economy to become an important driving force; developing the urban economy, linking economic development with ensuring social security and environmental protection; mobilizing resources to build a civilized and prosperous ward are strategic breakthroughs set out by the Hoanh Son Ward Party Committee in the 2025-2030 term.
If potential and large projects create the foundation, the private economy is the direct driving force for Hoanh Son to break through. In reality, the local budget still depends mainly on fixed revenues and support from superiors, while the capacity to create local resources has not been effectively exploited. To develop sustainably, Hoanh Son must consider the private sector as an important pillar, both to increase the budget and create jobs and increase income for the people.
Opportunities for the private sector are wide open. Large-scale industrial projects will lead to great demand for logistics, materials, construction, housing, food services, trade, etc. This is a market that local businesses can fully participate in.
Mr. Nguyen Nhat Van - Director of Phu Thai Tuan Company commented: "When the projects come into operation, the demand for transportation, warehousing, and ancillary services will explode. If supported in the right direction, local private enterprises will become an indispensable link in the value chain...".
To turn expectations into reality, Hoanh Son ward determined to accompany private enterprises through administrative procedure reform, support access to capital, encourage start-ups, and train quality workers. In particular, the development of small and medium enterprises, individual business households, encouragement of chain linkages and the formation of supporting industry clusters will create a multi-layered, sustainable economy.
However, private development cannot be separated from social responsibility. Along with encouraging production, the ward will attach requirements on environmental protection, using local labor, and contributing to social security. Only when the private economy develops in harmony with the goal of civilized urbanization, Hoanh Son can truly make a breakthrough and go the long way.
Mr. Nguyen Hong Cuong - Chairman of the Ward People's Committee said: "To develop a sustainable private economy, the ward focuses on 3 groups of solutions: reforming administrative procedures; encouraging innovative startups; connecting businesses with cooperatives and cooperatives to create value chains. The consistent viewpoint is to accompany businesses, taking the development of the private sector as a measure of the management effectiveness of the government.
With a solid foundation and the right orientation, Hoanh Son has all the foundations to become a bright spot in the new industrial and urban area of Ha Tinh.
Source: https://baohatinh.vn/phuong-hoanh-son-dong-luc-moi-tu-cong-nghiep-va-kinh-te-tu-nhan-post296636.html
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