(HBO) - Recently, the credit activities of the policy have timely supported the ethnic minorities in Trung Thanh commune (Da Bac) to get loans and support the production. This is really one of the bridges to help people get loans for hunger eradication and poverty alleviation. As a result, people's life has been improved, contributing to the implementation of the programme for sustainable poverty alleviation.
Through the loans from the Social Policy
Bank, people in Trung Thanh commune (Da Bac) have invested in growing tea to
develop their family economy.
Mr. Ha Van Quay’s family in Ha hamlet has
borrowed the capital from the Social Policy Bank of the district to invest in
building houses, growing tea and developing livestock. Mr. Quay says "The
capital from the Social Policy Bank is very useful for the people. However, if
the loans can be extended to many people with larger amounts, people will have
more money for production and further economic development ".
Currently, in Trung Thanh commune there are
nine saving and borrowing groups with 476 households, who are allowed to get
loans from nine preferential credit programs of the Social Policy Bank with the
total loan balance is over 14.6 billion VND. The program for the poor households and the ones with a poverty threshold
has a higher debt. Thanks to the credit capital, the households have developed
animal husbandry, cultivation, construction of clean water and rural
environmental sanitation projects and building and repairing new houses.
The capital from the Social Policy Bank has
supported the farmers develop production, eradicate hunger, alleviate poverty
and raise income, helping many households escape poverty. However, the people’s
demand is increasingly growing while the maximum loan amount is currently 50
million VND. The desire of the people is to borrow a greater maximum amount of
money to invest in developing production and business, increasing income and
gradually escaping poverty.
Mr. Luong Van Duong, the vice chairman of
Trung Thanh Commune People's Committee says that being a particularly difficult
commune, hunger eradication and poverty alleviation is a difficult task. Thanks
to the preferential credit, the poverty rate of the households in commune is
reduced by 5-6% annually. By the end of 2018, the commune has had 229 poor
households, accounting for 45.89%, down 6% compared to those of 2017. The
capita income per person reached 16 million VND a year.
Appreciating the abundant potential and strengths of his hometown for tourism development, Ha Cong Hung, Deputy Secretary of the youth union of Mai Chau district’s Mai Hich commune, embarked on producing smoked meat with a desire to introduce his homeland's specialty to domestic and international tourists.
Hoa Binh farmers are investing big in their chilli pepper cultivation areas after the first batch of 7.5 tonnes of pickled chilli peppers was shipped to the Republic of Korea (RoK) by Tien Ngan Trade and Investment Co., Ltd last month.
Recognising the role and importance of developing the collective economy, the northern province of Hoa Binh has promptly issued support policies to propel the development of the economy, making important contributions to local socio-economic development.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.