With the support of the Thach That District Agricultural Extension Station (now the Thach That District Agricultural Service Center), in 2020, Mr. Khuat Van Thoi, in Lai Thuong commune, was able to borrow 500 million VND from the Agricultural Extension Fund to buy a Kubota DC combine harvester.
Since having the harvester, Mr. Thoi has taken the machine to harvest rice everywhere, not only in Hanoi but also in neighboring districts and provinces. According to Mr. Thoi, the harvest price of 1 sao of rice ranges from 130,000 - 180,000 VND, minus all expenses, the profit is about 35 - 40% of the revenue. Thanks to effective business, in 2023, Mr. Thoi repaid 100% of the loan capital from the Agricultural Promotion Fund.
For Mr. Nguyen Duy Hanh, in Ha Bang commune, the Agricultural Promotion Fund is truly a driving force for economic development. Mr. Hanh shared that in 2023, his family was able to borrow 330 million VND from the City Agricultural Promotion Fund through the introduction and guidance of Thach That agricultural promotion officers. With this money, Mr. Hanh bought a Kubota tractor to help with land preparation.
“Not having to pay monthly interest, plus a 3-year grace period for installment payments, makes us somewhat secure in production. Without the capital source and installment payment policy from the Agricultural Promotion Fund, we would not dare to invest,” said Mr. Hanh.
According to statistics, in the period from 2020 to 2024, the whole district of Thach That has 10 households that have borrowed capital from the City Agricultural Promotion Fund to invest in mechanized equipment (combine harvesters, tractors) with a total amount of more than 4.2 billion VND. The economic efficiency is very clear and all households repay their debts on time.
Director of the Agricultural Service Center of Thach That District Nguyen Bui Hai said that in reality, lending capital from the Agricultural Promotion Fund has shown its superiority and positive effectiveness. People highly appreciate the policy of no interest and installment payments within 3 years of the loan program for mechanization development that Hanoi is widely implementing.
Currently, 500 million VND is also the maximum amount that a household is allowed to borrow from the Agricultural Extension Fund. This shows that the Hanoi Agricultural Extension Center and the Department of Agriculture and Rural Development have tried to create maximum conditions for organizations and individuals who need to borrow capital to develop the agricultural economy.
In addition to providing maximum loan support, the Agricultural Service Center of Thach That district regularly organizes training courses on skills in using mechanized machinery and equipment; coordinates with local authorities to promote the application of mechanization in improving the productivity and quality of commercial rice to gain people's support.
However, Mr. Nguyen Bui Hai also pointed out many current difficulties in lending capital to the Agricultural Promotion Fund. Among these, the most difficult problem is the requirement that organizations and individuals must have collateral, specifically land. Many organizations and individuals want to borrow capital but have difficulty accessing it because they do not have collateral. This is also an issue that the Agricultural Promotion Fund management agency is continuing to review and study to adjust to suit the new situation.
Source: https://kinhtedothi.vn/quy-khuyen-nong-thuc-day-co-gioi-hoa-tai-huyen-thach-that.html
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