Concessional loans from the Vietnam Bank for Social Policies (VBSP) have made significant contributions to delivering Hoa Binh province’s sustainable poverty alleviation target over the past years. Thanks to the loans, thousands of jobs are generated for local workers every year, helping them improve income.
The concessional loan helps Bui Thi Phuoc in
Lien Hong 1 hamlet of Khoan Du commune, Lac Thuy district, recover pig farming.
Lac Thuy district, now certified as new-style
countryside, showcases the visible transformation of rural areas where
residents' living conditions have markedly improved. The effective
implementation of the policy credit programme has been particularly significant
in this evolution.
Nguyen Thi Hai in the Quyet Tien residential
area of Ba Hang Doi town, Lac Thuy district, exemplified the success. After
taking out a loan worth 100 million VND (over 3,900 USD) from the VBSP, she
developed cow farming that now generates over 110 million VND annually, lifting
her family out of poverty.
Similarly, Bui Thi Phuoc in Lien Hong 1 hamlet,
Khoan Du commune, revitalised her pig farming business with a 50 million VND
loan after losing her herd to African swine fever. She said the fund provided
timely support during her difficult time.
According to the VBSP Office in Lac Thuy
district, total outstanding loans in the locality now reach over 532 billion
VND, with job creation loans exceeding 95 billion VND, the highest among all credit
programmes.
Across Hoa Binh province, the funds created and
maintained employment for nearly 7,000 workers in 2024. As of January 2025,
total outstanding loans topped 5.4 trillion VND.
In Lac Thuy district, communes have been succeeded in promoting their One Commune-One Product (OCOP) products while others are still struggling to position their typical farming products in market. Some communes in the district still fail to have their products met OCOP programme’s requirements, while others have seen their certifications expired.
The inspectorate agency of Hoa Binh province has issued Official Dispatch No. 1090/TTr-PCTN to provincial departments, agencies, localities, business associations, enterprises, and investors regarding measures to improve informal component indexes of the Provincial Competitiveness Index (PCI).
Hoa Binh is taking concrete steps to improve its investment environment, with a strong focus on supporting businesses, settling obstacles for strategic investors, and creating opportunities for robust development in the coming years.
Under the blazing early summer sun, the construction site of Nhuan Trach Industrial Park (IP) in Luong Son district is abuzz with activities from dawn to dusk, a testament to the determination of the investor to meet their construction targets on schedule.
