Concessional loans from the Vietnam Bank for Social Policies (VBSP) have made significant contributions to delivering Hoa Binh province’s sustainable poverty alleviation target over the past years. Thanks to the loans, thousands of jobs are generated for local workers every year, helping them improve income.
The concessional loan helps Bui Thi Phuoc in
Lien Hong 1 hamlet of Khoan Du commune, Lac Thuy district, recover pig farming.
Lac Thuy district, now certified as new-style
countryside, showcases the visible transformation of rural areas where
residents' living conditions have markedly improved. The effective
implementation of the policy credit programme has been particularly significant
in this evolution.
Nguyen Thi Hai in the Quyet Tien residential
area of Ba Hang Doi town, Lac Thuy district, exemplified the success. After
taking out a loan worth 100 million VND (over 3,900 USD) from the VBSP, she
developed cow farming that now generates over 110 million VND annually, lifting
her family out of poverty.
Similarly, Bui Thi Phuoc in Lien Hong 1 hamlet,
Khoan Du commune, revitalised her pig farming business with a 50 million VND
loan after losing her herd to African swine fever. She said the fund provided
timely support during her difficult time.
According to the VBSP Office in Lac Thuy
district, total outstanding loans in the locality now reach over 532 billion
VND, with job creation loans exceeding 95 billion VND, the highest among all credit
programmes.
Across Hoa Binh province, the funds created and
maintained employment for nearly 7,000 workers in 2024. As of January 2025,
total outstanding loans topped 5.4 trillion VND.
According to data from the Hoa Binh Provincial Party Committee, the industrial production index for the first six months of 2025 is estimated to have increased by 20% compared to the same period last year. This marks the highest year-on-year growth rate for this period since 2020.
In the first six months of 2025, Hoa Binh province’s export turnover was estimated at 1.145 billion USD, marking an 18.11% increase compared to the same period in 2024. Import turnover was estimated at $ 804 million, a 17.15% increase, which helped the province maintain a positive trade balance.
The lives of the ethnic minority farmers in Tan Lac district have gradually improved thanks to the new directions in agricultural production. This is a testament to the collective strength fostered through the professional associations and groups implemented by various levels of the district’s Farmers’ Union.
With the motto the "product quality comes first,” after nearly one year of establishment and operation, Muong village’s Clean Food Agricultural and Commercial Cooperative, located in Cau Hamlet, Hung Son Commune (Kim Boi district), has launched reputable, high-quality agricultural products to the market that are well-received by consumers. The products such as Muong village’s pork sausage, salt-cured chicken, and salt-cured pork hocks have gradually carved out a place in the market and they are on the path to obtaining the OCOP certification.
In the past, the phrase "bumper harvest, rock-bottom prices" was a familiar refrain for Vietnamese farmers engaged in fragmented, small-scale agriculture. But today, a new spirit is emerging across rural areas of Hoa Binh province - one of collaboration, organisation, and collective economic models that provide a stable foundation for production.
Maintaining growing area codes and packing facility codes in accordance with regulations is a mandatory requirement for agricultural products to be eligible for export. Recently, the Department of Agriculture and Environment of Hoa Binh province has intensified technical supervision of designated farming areas and packing facilities to safeguard the "green passport" that enables its products to access international markets.
