Today: 21/09/2020 17:09:38 (GMT+7)
THE CENTRAL AGENCY OF THE COMMUNIST PARTY OF VIETNAM BAC GIANG PROVINCE THE VOICE OF THE PARTY, GOVERNMENT AND PEOPLE OF BAC GIANG PROVINCE

Soft loans help young people start business

(BGO) - The movement of establishing a business, rising out of poverty and getting rich in the homeland of the youth in Bac Giang province has been effectively implemented with support from preferential loans through the youth unions. The number of young people's economic projects producing high income has been increasing, contributing positively to the national target programme on sustainable poverty reduction.

Starting a business

The pigeon farm of Duong Trong Bang (born in 1990), in Nguon hamlet, Thuong Lan commune (Viet Yen district) is arranged neatly and cleanly. In 2016, from the initial capital of the family, he bought 200 pairs of breeding pigeons to raise. 

Soft loans, young people, start business, preferential loans, youth unions, economic projects, sustainable poverty reduction

Leaders of Bac Giang city’s Youth Union visit a lily planting model of young people in Dinh Ke ward (Bac Giang city).

Due to lack of experience in caring and especially disease prevention, he suffered a loss. Failure made him more determined and he went to meet ranchers in the vicinity to learn caring techniques and processes.

In order to expand the production scale, he borrowed 100 million VND from the preferential credit programme to support young people to start their business through the Vietnam Bank for Social Policies. 

By the end of 2019, from the two preferential loan sources, the province disbursed a total of 8.4 billion VND (361,220 USD) for nearly 100 youth startup projects. Every year, hundreds of youth-owned households who are supported to build economic models escape from poverty.

As a result, Bang's bird farm now has an area of 130sq.m, raising 300 pairs of breeding birds and 300 pairs of gilts. Each month, he sells about 200 pairs of baby birds, gaining a profit of nearly 20 million VND after deducting costs. At the same time, Bang is always willing to share his experience in animal husbandry and support youth union members in the commune who wish to learn from him.

Like Duong Trong Bang, in 2015, Vu The Anh (born in 1991), in Ngoc Yen Ngoai village, Cao Xa commune (Tan Yen district) started his business thanks to preferential loans from the National Employment Fund (via the Ho Chi Minh Communist Youth Union Central Committee) with an integrated farm model. He currently has more than 20,000sq.m of fish farming, more than 300 grapefruit trees, 50 pigs and breeding cows. His farm earns more than 200 million VND a year.

Removing difficulties step by step

According to Than Trung Kien, Deputy Secretary of the provincial Youth Union, most of the young people face difficulties in capital while starting a business to eliminate poverty. 

In order to help youth union members and young people build effective economic models, the youth unions at all levels have well coordinated in the management of two preferential loan sources, including the credit programme to support young people to start their business and the National Employment Fund.

Soft loans, young people, start business, preferential loans, youth unions, economic projects, sustainable poverty reduction

Duong Trong Bang, residing in Thuong Lan commune (Viet Yen district), develops a pigeon farm from preferential loans.

By the end of 2019, from these two sources, the province disbursed a total of 8.4 billion VND (361,220 USD) for nearly 100 youth startup projects. Every year, hundreds of youth-owned households who are supported to build economic models escape from poverty.

Luong Quang Tuyen, Secretary of Yen The district’s Youth Union, said that the district has about 50 young people who need to borrow money but only six cases have been approved with total disbursed capital of 500 million VND (21,500 USD). 

To get loans, youth union members and young people must have collaterals with higher value than the loans. Production and business establishments owned by youth union members and young people must have available production models and prove their effectiveness.

In order to overcome these obstacles, in the coming time, the provincial Youth Union will continue coordinating to review and select youths’ typical economic development models, focusing on those initiated by rural youth people; regularly check and evaluate the efficiency of capital use to ensure the effectiveness and ability to recover capital on time.

In particular, campaigns have been launched to encourage young people to study and apply technical and technological advances to improve product quality, as a basis to meet the requirements of capital disbursement. 

It is necessary to pay attention to connecting product distribution and consumption channels for promising projects and building production chains to support each other in terms of capital and product selling.

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Support for youths’ start-up models in Bac Giang
(BGO) - 2017 is considered as a successful year of start-up ideas and models in agriculture of youths in Bac Giang province. Many local young people have caught up with the new trend, quickly applying new techniques to production and business.
 
Bac Giang launches innovative start-up contest
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Tuong Vi

Soft loans, young people, start business, preferential loans, youth unions, economic projects, sustainable poverty reduction
 
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