Leading capital to support youth

Understanding the significance of capital, in recent times, the provincial Youth Union and Associations have become a bridge to bring policy capital to the youth. This support has helped reduce some of the challenges in the journey of building a foundation and developing the economy for many young people.

Officials of the Provincial Youth Union and the Vietnam Youth Union visited, encouraged and gave gifts to young people developing the economy - Photo: Q.D

In the last days of the transition between the old year and the new year, despite being busy with many tasks, the delegation of the Provincial Youth Union, the Vietnam Youth Union of the province and localities and units still arranged time to visit, learn about and support youth models for economic development and sustainable poverty reduction.

In Huong Hoa district, the delegation visited the integrated livestock farming model combined with community tourism of member Ho Huu Thang; the rabbit farming model of member Hoang Van Thu; the coffee processing and passion fruit growing model of member Tran Van Quoc; the community tourism model of member Tran Nguyen Quang Cuong... Seeing the development of each model with their own eyes, everyone was happy. This was the motivation for them to further raise their determination, actively overcome difficulties to continue to lead the policy capital.

Like most young people in mountainous areas, in the past, the owners of the above-mentioned youth economic development models encountered many difficulties on the path to establishing themselves and their careers. They lacked almost everything to make a success. In particular, start-up capital was always the biggest concern. In that context, the support of the Youth Union and Association at all levels, especially the efforts to lead policy capital, helped the owners of the models overcome the barriers.

Mr. Ho Huu Thang, residing in Hamlet 1, Khe Sanh town, Huong Hoa district, said: “Without the support of the Youth Union and Association at all levels, as well as many other young entrepreneurs, I would hardly be confident in my decision to start a business. The policy capital provided by the Youth Union and Association at all levels has helped me and my family members overcome initial difficulties to successfully build a comprehensive livestock farming model combined with community tourism. The Youth Union and Association officials also regularly visit, encourage and support me.”

Like Mr. Ho Huu Thang, Ms. Dinh Thi Thu Thao, residing in Hamlet 1, Khe Sanh town, Huong Hoa district, has also risen thanks to the capital brought in by the Youth Union and Association at all levels. In 2018, Ms. Thao built a flower garden model called "Mien Vien Thao". With the good mindset of someone who studied tourism, Ms. Thao has helped the flower garden formed on her family's coffee plantation become a place to attract tourists from near and far.

With the momentum, she decided to expand the model and serve the dining needs of customers. That was the calculation, but the lack of capital made her fall into a situation of "difficulties constraining intelligence". While struggling to find a way, Ms. Thao was very happy because the Youth Union and Association at all levels opened the way for her to access loans to solve employment problems. "The capital of 100 million VND when I needed it made me extremely happy. From now on, I have more motivation to rise up", Ms. Thao confided.

Mr. Ho Huu Thang and Ms. Dinh Thi Thu Thao are just two of many young people in Quang Tri who have risen up thanks to the capital bridge of the Youth Union and Association. Always listening to the thoughts and aspirations of the Youth Union members, over the past time, the Youth Union and Association at all levels in the area have deeply understood the difficulties and challenges of young people in establishing themselves and their careers. In particular, many young people do not know how to manage to get capital to solve difficulties and challenges in the early days. Understanding that, the Youth Union and Association officials have joined in with all their spirit and responsibility.

In order to practically support young people to establish themselves and start their own businesses, union and association officials have actively surveyed, grasped the situation and worked with relevant levels, sectors and units, thereby finding many solutions to bring capital to young people. Many coordination programs and commitments have been built early to form and improve the effectiveness of capital support for young people to borrow for economic development.

Not only do they direct capital to the right people and right objects, union and association officials also regularly visit and encourage borrowers and inspect and supervise the implementation. Thanks to that, the effectiveness of policy capital through channels is highly promoted.

According to statistics, in 2023 alone, the Provincial Youth Union Standing Committee and the Secretariat of the Provincial Vietnam Youth Union coordinated with the Provincial Social Policy Bank to commit to supporting loans for 300 youth economic development models with a total budget of 50 billion VND.

Not stopping there, the Provincial Youth Union and the Vietnam Youth Union of the province also actively directed the Youth Union and Associations at all levels to coordinate with social banks at all levels to support young people in accessing preferential loans to solve employment and develop the economy, thereby increasing the total outstanding loan balance of the social policy bank through the Youth Union and Association channels by the end of October 2023 to VND 535 billion, with outstanding loan growth reaching 23%.

Promoting their roles and positions, the Youth Union and Association at all levels have actively deployed, disseminated, and reviewed the demand for preferential loan programs as prescribed in Resolution No. 11/NQCP and social housing loans according to Decree No. 100/2015/ND-CP of the Government among union members and young people. In 2023, 325 youth start-up and career models and projects in the area were supported with preferential loans with a total amount of VND 23 billion. Loans from the National Employment Fund through the Central Youth Union continued to be well managed with 12 projects, with outstanding loans of VND 1.1 billion.

The financial support from the Youth Union and Association at all levels has brought about encouraging results. Up to now, the whole province has 3 cooperative groups, 82 youth economic development clubs, 492 youth economic models with an income of over 100 million VND/year. In gratitude to the Youth Union and Association at all levels, many model owners have strived to rise up, enrich themselves, enrich their homeland, and help many difficult circumstances, especially disadvantaged youth.

They have also become role models and inspirations for many other young people to boldly rise up, overcome all difficulties and challenges to establish themselves, start a career, and have a better life.

Quang Dang

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