Nurturing the dream of starting a business to expand production and business models, many young people in the province have been supported by local budget capital entrusted through the Social Policy Bank (SPB) Branch of Quang Tri province. From here, the movement of young people to establish themselves and start a business, contributing their youth to build a beautiful and prosperous homeland, has been widely spread.
Training on management and use of loans to support young entrepreneurs - Photo: HN
These days, the wooden handicraft workshop of Mr. Tran Thanh Dat's family (born in 1999) in Ho Xa town, Vinh Linh district is focusing on completing orders and products to prepare for the upcoming Lunar New Year.
After completing his military service in 2022, Dat returned to his hometown and continued his previous electrical and plumbing job. In mid-2023, when he learned about preferential capital for young people from the Vietnam Bank for Social Policies, he planned to borrow money to expand his facilities and purchase machinery to invest in his family's fine art carpentry workshop. Since then, he has given up his electrical and plumbing job and followed his "family" profession to support his parents in their work.
In the past, carpentry was often done by skilled hands. However, the current trend is to use modern machinery and technology in production to reduce labor and increase economic efficiency.
“Previously, in the process of producing fine art wooden products, all the steps were mainly done by hand by my parents, without much machinery. After borrowing 100 million VND from the Social Policy Bank, I expanded my family’s production facility, bought a modern wood lathe to make more products such as vases, driftwood tables and chairs...”, Mr. Dat shared about the reason for borrowing the capital.
Although the loan has not been long, the immediate effect, according to Mr. Dat, is that the invested machinery will replace humans in some stages; the quantity of products produced will increase, leading to increased productivity and quality. In the future, he plans to link the family's carpentry households into large-scale production facilities, from which he will continue to borrow capital to expand production.
Many examples of union members and young people in the area who know how to effectively promote policy credit capital have affirmed the significance of this capital source. From the creative labor emulation movement to establish a career in 2002 to the current program "Accompanying young people to start a business and establish a career", all set out the target of supporting loans for young people to develop the economy, in which the entrusted loan source is an important channel for the union organization to successfully implement this target. Therefore, union members and young people have many opportunities to access preferential policies in economic development. From here, many models of youth clubs to start a business and do good business have been formed.
To make capital sources effective, the work of planning and annual inspection and supervision is focused on. Youth Union chapters at all levels organize many activities to support resources for economic model development, contributing to the effective promotion of social credit loan capital such as mobilizing socialization to donate breeding animals and livestock to difficult economic models; coordinating with relevant departments and branches to guide young entrepreneurs to register to participate in programs to support machinery, equipment, and transfer new techniques. Organizing many programs and forums to connect the supply and demand of youth startup products with businesses, creating output for youth economic development model products...
Borrowing preferential credit from the Vietnam Bank for Social Policies through the Youth Union is a great motivation for Mr. Nguyen Thanh Hop (born in 2001) in Dong Ha City. Every day, this young man's job is to bend over cars, "diagnose" and repair damage, ensuring safety for customers. Being hardworking and responsible, customers often come to his auto repair shop. However, Mr. Hop's garage previously only repaired cars. Thanks to the policy credit loan, Mr. Hop invested in buying washing machines, car lifts and pressure pumps to open more car washing services, creating convenience for customers.
“Being able to borrow money at a low interest rate first of all gives me the peace of mind and courage to carry out the idea that I have cherished for a long time. I think many other young people have the same thoughts as me when they have access to this source of capital,” Mr. Hop shared.
With the support of policy credit capital, not only Mr. Hop but also many other union members and young people have risen to become shining examples in the economic development movement. Every year, the rate of young people entering the working age is high, so the work of supporting start-ups and creating jobs for young people is always of interest to all levels and sectors. Supporting loans with preferential interest rates is one of the effective solutions to help young people realize their aspirations.
From 2014 to present, on average, each year the VBSP has supported the disbursement of loans from 50-100 million VND to more than 300 youth economic development models. Up to now, the whole province has 85 economic development clubs and cooperatives, more than 500 youth economic models with an income of over 100 million VND/year. Implementing Resolution No. 103/NQ-HDND of the Provincial People's Council, in 2024, the provincial budget will allocate 3 billion VND entrusted through the VBSP to 30 youths to borrow capital for production and business. The total local budget capital entrusted through the VBSP reached more than 218 billion VND, an increase of 188 billion VND compared to before implementing Directive No. 40-CT/TW of the Secretariat.
To continue to improve the effectiveness of preferential credit capital for social policy, propaganda work needs to be further strengthened by youth organizations to promptly spread new policies and guidelines of social policy credit to all classes of people. Replicate good models, good practices, typical examples in borrowing and using loans effectively on mass media and social networks.
Continue to seek and develop creative startup ideas among union members and youth and research ways to connect startup ideas with investors and other potential sources of capital. Support youth in establishing feasible investment projects, taking advantage of funds to support youth startups and business start-ups from the province and the Central Youth Union. In particular, do a good job of managing and effectively using local budget capital entrusted through the Social Policy Bank to continue lending to poor households and other policy beneficiaries in the province.
Hoai Nam
Source: https://baoquangtri.vn/khi-uoc-mo-khoi-nghiep-duoc-chap-canh-190743.htm
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