(HBO) – Yen Thuong is a remote and poor commune in Cao Phong district with its economy mainly relying on agricultural production. Through practical programmes over the past years, the district branch of the Vietnam Bank for Social Policies (VBSP) has improved the quality of credit trust activities and brought preferential credit capital to the people, thus promptly helping poor households and beneficiary families develop production, improve lives and sustainably reduce poverty in the commune.
District’s
credit officers inspect the use of loans by Bui Van Tien in Moi village, Yen
Thuong commune.
At
present, Yen Thuong commune has 13 saving and loan groups with 492 households still
in debt. The commune launched 11 policy credit programmes with loans worth over
20 billion VND. Of which, loans for poor households topped 9.2 billion VND,
benefiting 296 families. Meanwhile, 126 near-poor households recorded outstanding
loans of more than 4.6 billion VND, and 50 others borrowed upwards 1.7 billion
VND for production and trade.
In
general, borrowers used loans to the right purpose and effectively, mostly for
cattle farming, sugar cane and citrus cultivation. They generally paid
principles and interests on time. The commune also raised over 411 million VND
in saving deposits.
In
order to re-invest capital and make it easier for poor households and policy
beneficiaries to access State preferential loans, the district VBSP branch raised
public awareness of new credit programmes, enhanced loan inspection and
actively informed borrowers about due debt payment. Along with outstanding loan
growth, the branch also paid attention to improving credit quality and actively
collecting debts so that the commune recorded neither overdue debts nor
accumulated interest rates.
Chairman
of the communal People’s Committee Bui Van Dat said preferential loans for
local poor households and policy beneficiaries have proved effective,
contributing to socio-economic development and improving material and spiritual
lives. As of the late 2018, average income per capita in the locality hit 16.5
million VND, the rate of poor and near-poor households reached 38.67 percent
and 29.42 percent, respectively.
In recent times, Hoa Binh province has shown its determination and high sense of responsibility in seriously implementing the directives of the Party Central Committee and its Politburo and Secretariat regarding the streamlining of the political system’s organisational apparatus and the development of a two-level local administration system. The aim is to build a commune-level administration that is close to the people, attentive to their needs, and capable of quickly responding to the demands of both businesses and citizens, while also opening up new development spaces.
Over the past three years, the northern mountainous province of Hoa Binh has begun redefining its position on Vietnam’s service landscape with a series of distintive commercial models, from highland night markets, pedestrian-friendly streets, to logistics centres tied to local agricultural products.
Hoa Binh city has marked a significant step in sustainable forest management as nearly 1,450 hectares of its plantation forests have been granted Forest Stewardship Council (FSC) certification, an international standard required to access major wood markets such as the EU, the US, and Japan.
Construction on the Xuan Thien Hoa Binh lime and light powder factory in Yen Bong commune, Lac Thuy district - a key project of Hoa Binh province - started on April 24.
Hoa Binh city is transitioning to modern and sustainable agriculture by leveraging its natural advantages to efficiently develop crop cultivation and animal husbandry. The city is applying scientific and technical advancements to farming, processing, and distribution while expanding export markets, significantly increasing production value and incomes for farmers.
Hoa Binh province’s economy posted an impressive Gross Regional Domestic Product (GRDP) growth rate of 12.67% in the first quarter of 2025, representing a 12.76% year-on-year increase, the highest rate recorded since the beginning of the current tenure, according to the provincial Statistics Office. This robust growth reflects years of strategic groundwork and sets a strong foundation for the province’s annual growth target of over 10%.
