Contribute to sustainable development of tea growing areas

The family of Ms. Nguyen Thi Thu, Hong Thai 2 hamlet, Tan Cuong commune, borrowed capital from Tan Cuong People's Credit Fund to invest in tea production and processing.

Tan Cuong tea region has long been a famous brand, the “tea capital” of Thai Nguyen. With particularly suitable climate and soil conditions, people here have a long tradition of tea cultivation, but to increase productivity and product value, they need support in terms of capital, technology and market.

In particular, credit capital from the People's Credit Fund (QTDND) of Tan Cuong has become an important "lever" to help many households convert farming methods from small-scale to semi-industrial, invest in modern processing machinery, expand production scale in a safe and organic direction. Many households, after accessing loans, have boldly improved new tea varieties, invested in misting irrigation systems, installed high-tech bud drying ovens... Thereby, product prices have been increased, making it easier to access demanding markets such as Hanoi, Ho Chi Minh City, and export to the Middle East and Europe.

A typical example is the family of Ms. Nguyen Thi Thu, Hong Thai 2 hamlet - one of the active members of the Fund. Thanks to timely loans to invest in tea production and processing, Ms. Thu said: “The loan procedures at the Fund are simple, disbursement is quick and close to home, very convenient for us. With 1.2 hectares of tea, my family harvests about 2 tons of dried buds each year. After deducting expenses, the profit is from 500 to 700 million VND. Thanks to the Fund's capital, we have the conditions to expand processing and increase product value.”

An important factor that makes many people choose Tan Cuong People's Credit Fund is the reasonable loan interest rate, suitable for agricultural production conditions. Ms. Pham Thi Tham, Lam Son hamlet shared: "The interest rate here is also equivalent to other credit institutions. Meanwhile, the Fund staff understands the situation of each household and gives enthusiastic advice, so we feel very secure when borrowing to invest in expanding the tea area."

From these practical results, it can be clearly seen that the role of Tan Cuong People's Credit Fund is not simply a financial institution supporting people to access loans, but also a factor contributing to the restructuring of the local tea industry, in line with the orientation in Resolution No. 11-NQ/TU dated February 3, 2025 of the Thai Nguyen Provincial Party Committee on tea industry development in the period 2025-2030. It emphasizes the goal of improving quality, increasing processing value, and expanding consumption markets - goals that people can only achieve when they have solid, stable financial resources and long-term companionship such as from the People's Credit Fund system.

Sharing about the future orientation, Mr. Phan Van Tuan, Chairman of the Board of Directors of Tan Cuong People's Credit Fund, said: “We clearly define the role of the Fund as serving local economic development, especially in the field of tea production - the main crop of the commune. Therefore, in 2025, the Fund will continue to implement preferential loan packages according to Resolution 11-NQ/TU on tea industry development. In addition, we also focus on improving service quality, applying information technology, ensuring safety and transparency in operations.”

In 2025, the Tan Cuong People's Credit Fund sets the following targets: Total mobilized capital reaches 65 billion VND, the number of members increases to 876 people, business profits strive to reach nearly 1.3 billion VND... To achieve this goal, the Fund will continue to promote communications, promote products and services, implement preferential interest rate packages, especially credit packages specifically for cooperatives and tea growers. The Fund also focuses on improving staff qualifications, controlling credit growth cautiously, taking quality as the core goal, not chasing quantity...

Xinjiang People's Credit Fund currently has 806 members. As of December 31, 2024, the total capital of the Fund reached 63.2 billion VND, of which mobilized capital was 50.2 billion VND, entrusted capital was 1.4 billion VND. Loan turnover in 2024 reached nearly 89 billion VND, income from credit activities reached 7.1 billion VND. In addition to lending, the Fund also develops convenient financial services such as interbank money transfer, intermediary withdrawal, well meeting the transaction needs of rural people.

Source: https://baothainguyen.vn/kinh-te/202504/gop-phan-phat-trien-ben-vung-vung-che-a63260c/