Create conditions for union members and youth to develop the economy

To further motivate and create conditions for youth union members to start businesses, in recent years, Thanh Hoa Provincial Youth Union has done a good job of receiving entrustment from the Social Policy Bank - Thanh Hoa Branch (Thanh Hoa Social Policy Bank) for thousands of union members and youth to access preferential capital to develop the economy and become rich right on their homeland.

With a loan from the Vietnam Bank for Social Policies, Mr. Vi Van Doi, a Thai ethnic in Buon quarter, Muong Lat town (Muong Lat) invested in effective economic development.

Mr. Vi Van Doi, Secretary of the Youth Union of Buon Quarter, Muong Lat Town (Muong Lat) is one of the typical youth union members and youth in the movement of starting a business, developing the economy and inspiring and helping other union members escape poverty in the locality. With the support of the town's youth union to receive the trust of the Muong Lat District Social Policy Bank Transaction Office to access policy capital, Mr. Doi has invested in effective economic development and created jobs for many workers. It is known that in 2021, Mr. Doi was lent 100 million VND by the Social Policy Bank, along with his family's own capital, to invest in raising cows and planting about 20 hectares of lat trees, 10 hectares of acacia trees, 4 hectares of bamboo shoots and many other crops. After a period of developing his family's economic model, realizing the potential of local agricultural and forestry products, Mr. Doi established the Muong Lat Agricultural and Forestry Service Development Cooperative, specializing in providing seeds and consuming local agricultural and forestry products. Currently, his family's farm and the newly established cooperative have brought in a stable income of about 300 million VND/year, creating jobs for 20 local workers with an income of about 4 - 7 million VND/person/month. Currently, Mr. Doi has not only paid off the bank loan early, but his family also has accumulated capital. Mr. Doi has also expanded about 10km of road for villagers to travel and work.

Mr. Lau Van Phia, Secretary of Muong Lat District Youth Union, said: "In the past time, the management of entrusted capital has been carried out seriously and in accordance with regulations by the Youth Union of Muong Lat district. The Union actively propagates to its members and young people to grasp the loan procedures to guide borrowers. At the same time, it advises and guides borrowers to effectively link production, production and business. In addition, the Union also directs the Youth Union branches of communes and towns to increase the mobilization of borrowers to participate in saving money, urge debt collection on time, not to let overdue debt arise without clear reasons, and focus on monitoring the commitments of borrowers to ensure the use of loan capital for the right purpose, bringing high economic efficiency".

Identifying supporting union members and youth to develop the economy and reduce poverty sustainably is one of the key tasks in implementing emulation movements and the key tasks of the Union. The Provincial Union has directed the union bases to proactively coordinate with the transaction offices of the Vietnam Bank for Social Policies in districts, towns and cities to deploy many synchronous solutions to transfer policy credit capital to the right beneficiaries. To ensure the safety and effective use of loan capital, the provincial Youth Union chapters have actively organized propaganda to cadres, union members, youth and people about the Party's guidelines, policies, State laws and regulations of banks on credit lending to poor households and policy beneficiaries, especially on loan subjects, lending methods, loan conditions, loan amounts, terms, loan interest rates, principal and interest repayment methods and other related issues through forms such as: coordinating propaganda on mass media, meetings of savings and loan groups, youth unions and club activities... Thereby helping union members and youth grasp and correctly understand the Government 's preferential credit policies for poor households and other policy beneficiaries. In the process of implementing and carrying out entrusted activities with the Social Policy Bank, the Youth Union has reviewed and provided loans to the right subjects, guided borrowers to use the loans for the right purposes, and complied with the regulations and instructions of the Social Policy Bank in organizing loans as well as collecting interest according to regulations... From effective coordination activities, managing and using loan capital for the right purposes has helped thousands of union members and youths in the province have jobs with stable incomes. As of mid-August 2024, the total outstanding debt at the Provincial Social Policy Bank managed by the Provincial Youth Union was nearly 1,700 billion VND, through 619 savings groups for more than 23,000 union member and youth households with outstanding debts. Through preferential capital, many union member and youth households who are poor and near-poor have been able to borrow capital effectively.

Policy credit not only helps young people start businesses and become rich, but also helps youth organizations gather and attract youth union members, creating a connection between youth union members and youth organizations. In the process of implementing the loan entrustment of the VBSP, youth union officials grasp the thoughts and aspirations of young people, thereby coordinating with VBSP officials to advise, guide and support. Thanks to that, youth union members and youth are increasingly connected to youth organizations, bringing youth union work and youth movements more and more into reality. In the coming time, based on reviewing the loan needs of young people, youth organizations will continue to receive capital entrustment from the VBSP so that more and more young people can borrow capital, be guided to do business, escape poverty and become rich legitimately.

Article and photos: Luong Khanh

Source: https://baothanhhoa.vn/tao-dieu-kien-cho-doan-vien-thanh-nien-phat-trien-kinh-te-222609.htm