Resources for economic development in the Quang Nam highlands

Growing ginseng with policy loans helps Ms. Ho Thi Luc's family escape poverty and stabilize income. Photo: V.QUANG

The family of Ms. Ho Thi Luc (Xo Dang ethnic group) was previously a poor household in village 3, Tra Linh commune, Nam Tra My. Through the Farmers' Association of Tra Linh commune, in April 2022, Ms. Luc's family received a loan of 100 million VND from the Transaction Office of the Bank for Social Policies (CSXH) of Nam Tra My district to plant 350 Ngoc Linh ginseng trees in the family's forest garden area.

By the end of 2023, Ms. Luc’s family’s Ngoc Linh ginseng garden will produce seeds and leaves for sale, creating a stable source of income. In addition, she has also invested in a grocery store to provide essential goods for people in the area.

In November 2023, her family borrowed an additional 70 million VND from the Transaction Office of the Social Policy Bank of Nam Tra My district to plant 200 more Ngoc Linh ginseng trees and expand the grocery business.

“Up to now, my family has a stable income of 120 million VND/year. I always promote households to access policy capital to develop the economy,” said Ms. Luc.

In March 2024, Ms. Luc was elected as Head of the Savings & Loan Group of Tra Linh village and actively promoted and guided people to boldly borrow policy capital for production.

Since then, in Tra Linh commune, there are now many more households using preferential loans effectively, such as Mr. Ho Van Ky's family with more than 100 Ngoc Linh ginseng plants 4-5 years old; Mr. Ho Van Lieu's family with more than 200 Ngoc Linh ginseng plants 3-5 years old...

Currently, the Savings and Loan Group managed by Ms. Luc has 49 households borrowing, the loan amount is 2.8 billion VND. The group has no overdue debt, 49/49 households participate in saving regularly every month, up to now, 84 million VND.

Mr. Nguyen Van Hien - Director of the Transaction Office of the Social Policy Bank of Nam Tra My district said that as of June 30, the unit had an outstanding debt of nearly 243.2 billion VND with 13 loan programs, 4,951 households borrowing capital for business.

The Transaction Office of the Bank for Social Policies in Bac Tra My district helps people borrow capital to develop the economy effectively. Photo: Q.VIET

“Policy capital in Nam Tra My has grown rapidly. The effectiveness of loan capital has been promoted, supporting poor households and policies to develop production. Thanks to that, poverty reduction work has been implemented more practically,” said Mr. Hien.

In Bac Tra My district, 18 preferential credit programs are being implemented, including loans for poor households, near-poor households, households that have just escaped poverty, production and business in difficult areas, job creation support... The total outstanding policy credit balance in Bac Tra My as of June 30 was more than 579.7 billion VND with 8,352 households still borrowing.

Mr. Tran Van Quang - Director of the Transaction Office of the Social Policy Bank of Bac Tra My district said: "Directive 40 has really gone deep into life.

Party committees, authorities and Fatherland Fronts at all levels have enhanced their roles and responsibilities in implementing and supervising social credit activities, contributing to the successful implementation of poverty reduction goals, job creation, new rural construction, socio-economic development in ethnic minority and mountainous areas, and ensuring social security.

Source: https://baoquangnam.vn/nguon-luc-phat-trien-kinh-te-vung-cao-quang-nam-3137289.html