(HBO) – Loans from the Vietnam Bank for Social Policies’ branch in Mai Chau district have contributed to supporting local poor people and policy beneficiaries to overcome difficulties in the context of the complicated developments of the COVID-19.
Mr. Ha Cong Sinh’s family in Bang
village, Bao La commune of Mai Chau district, has got out of poverty thanks to
using social policy loans in breeding cows.
Over recent years, the Vietnam Bank for Social Policies (VBSP)’s branch in Mai
Chau district has worked hard in mobilising capital to promptly meet the credit
demand of local people, thus helping thousands of households create sustainable
livelihoods.
Mrs. Dinh Thi Dua’s family in Bang hamlet, Bao La commune, was previously a
poor household and met economic difficulties because they had no capital for
production. Her family has escaped from poverty thanks to effectively using
social policy loans in raising buffaloes.
Mr. Ha Cong Sinh's household in the same hamlet also got a loan of 42 million
VND to develop cow husbandry, thanks to which his family’s economy has
gradually stabilised.
Directorof the transaction office of theVBSP in Mai Chau district
Vu Hoai Nam said despite the impact of the COVID-19 pandemic, the bank well
performed tasks and plans set in 2021, with loans provided quickly to those who
needed.
The bank lent 122 billion VND to about 3,400 poor and near-poor households and
other policy beneficiaries, helping them promote economic development and
construct clean water and environmental sanitation works.
In the first two months of this year, the policy credit loans topped 16 billion
VND. The total outstanding loans of credit programmes stood at over 321 billion
VND, up 6.8 billion VND compared to the beginning of the year.
Nam said his agency will focus on lending growth credit sources; and
classifying debts to assess credit quality in the locality in order to have
solutions to irrecoverable debts.
Attention will be also paid to effectively performing the interest rate support
policy to assist people affectedbythe COVID-19pandemic, he
added./.
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%.
With a focus on cash crop farming with science - technology application and brand building, Lac Thuy district is gradually increasing production value, improving people's life quality, and laying the foundation for sustainable socio-economic development.
In recent years, the economic development model "Hoa Binh Earthworm Farm” run by Mr. Bui Van Dang in Co Giua Hamlet, My Thanh Commune (Lac Son district) has not only brought stable economic value but it is also environmentally friendly, helping to protect and reduce pollution, contributing to the construction of a green and sustainable agriculture.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
