In recent times, credit capital for agricultural and rural development in Thai Nguyen province has shown positive results. In 2024, the total outstanding loans in this sector reached VND 25,860 billion, accounting for 21.84% of the total outstanding loans in the whole area. Thanks to the loan capital, many modern and sustainable production models have been formed, contributing to increasing the value of agricultural products and improving the lives of farmers...
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| Farmers in Ba Xuyen commune (Song Cong city) were able to borrow bank loans to invest in a model of growing melons in greenhouses, thereby increasing product value and income. |
According to the report of the State Bank of Vietnam, Thai Nguyen Branch, in the province, there are currently nearly 169,000 households that have received loans for agricultural production. From this source of capital, households use it to invest in buying seeds and caring for crops and livestock; purchasing equipment and machinery for farming. Part of the capital is used to renovate infrastructure works serving production, such as irrigation systems, warehouses, or agricultural product preservation works...
For example, with the livestock farm model of Ms. Nguyen Thi Nga, in Cay Cham residential group, Du town (Phu Luong). Thanks to access to preferential loans from credit institutions, the family has invested over 3 billion VND to expand the barn to raise 50 breeding cows, applying modern livestock technology, thereby helping to reduce the risk of disease and increase productivity by 30% compared to before.
Ms. Nga shared: Thanks to the loan, my family has the conditions to develop large-scale livestock farming, with a stable income of 500 million VND or more. Without support from the bank, it would certainly be difficult to expand production.
Another model is the BKQ Organic Cooperative (HTX) specializing in producing high-quality tea in Khe Mo 2 hamlet, Khe Mo commune (Dong Hy). With capital support from credit institutions, the Cooperative has invested billions of VND in a factory system, 40 rolling machines, 7 iron and steel roasting machines, packaging warehouses, automatic packaging machines, etc.
Mr. Nguyen Xuan Khu, Chairman of the Board of Directors of BKQ Organic Cooperative, said: Thanks to the loan, we have purchased more modern machinery, helping to process clean tea of higher quality, thereby expanding the market. The 2024 Outstanding Rural Agriculture Award of Thai Nguyen Province for the product "Hong Dinh Tra" is the result of the efforts of the Cooperative. Currently, the income of member households in the Cooperative has increased by 20% compared to before.
In some communes of Phu Luong and Vo Nhai districts, farmers use loans from programs of the Bank for Agriculture and Rural Development to grow high-quality fruit trees (such as oranges, grapefruits, tangerines, etc.). These models help people increase their income by actively applying scientific and technological advances in cultivation and expanding the market for their products.
Or livestock farming models in Phu Luong and Dong Hy districts are also supported by credit loans. Farmers borrow capital to buy breeding cows, build barns and invest in equipment and machinery for livestock farming.
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| Thanks to bank loans to develop production, the closed pig farming model of Mr. Le The Hung's family (in Ngoi Cheo hamlet, Nam Hoa commune, Dong Hy) earns a profit of over 300 million VND/year. |
Meanwhile, some farming households in Thai Nguyen City, Song Cong City and Pho Yen City use loans from banks to invest in high-tech agricultural production models, such as growing clean vegetables in greenhouses, producing mushrooms and applying water-saving irrigation systems. These models not only help reduce production costs but also improve productivity and product quality.
In fact, the above models show that credit capital has truly become a driving force to help the province's agricultural economy develop strongly. Not only contributing to modernizing production and improving the quality of agricultural products, this capital source also helps many households to become rich, significantly improving their economic life.
Although agricultural and rural credit brings many benefits, the reality shows that there are still many major challenges. One of the main difficulties is the risk of weather and climate change. Drought, floods and livestock and poultry diseases can directly affect production, making it difficult for farmers to repay their loans on time.
In addition, agricultural product prices fluctuate frequently, affecting farmers' income. When market prices fall, many borrowers have difficulty balancing their finances, leading to an increase in bad debt.
According to statistics, by the end of 2024, overdue debt in the agricultural and rural sector in Thai Nguyen reached 456 billion VND. This poses a big challenge for credit institutions in debt collection and maintaining loan capital flow.
In the coming time, to improve the efficiency of agricultural credit, banks in the province will continue to innovate, improve service quality, be flexible in lending policies, especially simplifying loan procedures to support people to access capital more easily.
In addition, localities are also making efforts to call for investment and promote public-private cooperation to develop agriculture and rural areas sustainably in the near future.
Source: https://baothainguyen.vn/kinh-te/202502/uu-tien-tin-dung-cho-nong-nghiep-nong-thon-ce31ab3/
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