Policy credit "plants" livelihoods in coastal areas
(VBSP News) Policy credit capital is creating significant changes in the coastal area of Binh Son (Quang Ngai province). From seafood processing facilities to forest economic development models, preferential capital has become a "lever" helping people confidently invest in production, create jobs, increase income, and contribute to a decrease in the poverty rate in the area.
Starting from a small seafood processing facility in the coastal area of Binh Son, thanks to policy-based credit, Hung Loan's marinated squid processing facility has boldly expanded production, gradually building a brand for its local product.
What makes the owner of Hung Loan establishment proud is not only that the facility has 6 products, including the marinated squid product which has been recognized as a 3-star OCOP product, but also that the traditional craft has now become a stable source of livelihood for many female workers. Each year, the facility achieves revenue of over 500 million VND, providing regular employment for 3 local female workers with an average income of nearly 6 million VND per month. The preferential capital, delivered at the right time and meeting production needs, has become a "launching pad" for the facility's development.
Not far from there, in Binh Minh commune, Mr. Hoang Van An is also harvesting acacia wood from his 5-hectare plantation.
Previously, developing the forest economy faced many difficulties due to a lack of initial investment capital. After accessing policy-based credit combined with training courses on science and technology, his family boldly chose suitable tree species and applied new care procedures. After a three-year investment cycle, the first harvest yielded a profit of approximately 300 million VND after deducting expenses.
Credit officers of the Social Policy Bank in Binh Son are dedicated to guiding people in using loan capital to develop production and business.
The story of Hung Loan establishment or the family of Mr. Hoang Van An is just two of many examples demonstrating the effectiveness of policy-based credit in the Binh Son region. From coastal producers to people developing hill and forest economies, preferential loans have become a driving force for people to boldly invest, expand their livelihoods, and gradually increase their income.
When capital flows to the right place and the right people.
Binh Son was formerly a district located in the northwest of Quang Ngai province, with diverse topography ranging from mountainous to coastal areas. After administrative reorganization, the area was divided into five new communes: Binh Minh, Binh Chuong, Binh Son, Van Tuong, and Dong Son.
According to the report, by June 30, 2026, the poverty rate in the area will be only 2.09%; the total outstanding policy credit will reach over 964 billion VND, an increase of 71 billion VND compared to 2025.
According to Mr. Pham Quang Su, Chairman of the People's Committee of Binh Minh commune, former Vice Chairman of the People's Committee of Binh Son district and former Head of the Board of Representatives of the Social Policy Bank of Binh Son, the positive transformation of the locality has many causes, including the important role of policy credit capital.
The mobilized and effectively implemented capital has contributed to supporting localities in carrying out socio-economic development programs, poverty reduction, and improving people's lives.
For over two decades of operation since 2003, despite facing numerous challenges such as natural disasters, the Covid-19 pandemic, and administrative restructuring, the flow of policy credit in Binh Son has remained uninterrupted.
To achieve this, the credit officers have closely monitored the situation at the grassroots level, promptly delivering 15 key policy credit programs to villages, hamlets, fishing communities, and neighborhoods, creating conditions for poor households and policy beneficiaries to access loans at the right time to support production and business activities.
Mr. Nguyen Van Muoi, Party Secretary and Director of the Binh Son Branch of the Vietnam Bank for Social Policies, delivered a speech at the signing ceremony of entrustment contracts with associations and organizations borrowing policy-based loans.
Maintain the existing network so that people don't have to travel far.
One of the highlights of Binh Son after the administrative reorganization is that the entire network of services for the people has remained stable.
The system of 23 commune-level transaction points, along with a regular monthly transaction schedule, continues to be maintained, helping people avoid traveling long distances to borrow capital, repay loans, or pay interest. Simultaneously, 353 Savings and Loan Groups have been strengthened, continuing to conduct open and transparent assessments, ensuring that capital reaches the intended beneficiaries.
Through this network, coordination between the Social Policy Bank and various associations and organizations, including the Farmers' Association, the Women's Union, the Veterans' Association, and the Youth Union, has become increasingly close, contributing to improved efficiency in managing and utilizing loan capital.
Specifically in Binh Son commune, after the merger, the locality continues to fully benefit from the State's credit policies. As a result, the commune's economy grew by nearly 11%, per capita income reached over 60 million VND per year, and the poverty rate decreased to 1.92%.
Capital investment provides impetus for local economic development.
Policy-based credit not only helps households escape poverty, but also creates momentum for effectively exploiting the advantages of each region.
In coastal areas, people are encouraged to invest in the development of seafood harvesting and processing, expanding their livelihoods from the marine economy.
In the hilly forest area of Binh Minh, tens of billions of dong in job creation capital have been invested in developing approximately 1,300 hectares of forest-based economic activities. From a mindset of relying on government support, many households have proactively used the capital for its intended purpose, developing forestry, increasing income, and contributing to environmental protection.
According to the leaders of Binh Minh commune, the locality continues to disseminate information to help people understand the significance of policy-based credit, encourage the transformation of crop and livestock structures, and apply science and technology to production in order to achieve sustainable poverty reduction. Currently, the commune has 1,320 households, of which 36 are poor households, accounting for 2.27%, and 58 are near-poor households, accounting for 4.39%; the locality aims to further reduce this rate in the coming time.
The Binh Son branch of the Vietnam Bank for Social Policies (NHCSXH) signs entrustment contracts with associations and organizations to provide policy loans.
Capital continues to flow towards the goal of sustainable poverty reduction.
By June 30, 2026, the total capital of the Binh Son Social Policy Bank reached VND 970 billion, an increase of VND 77 billion compared to the beginning of the year; total outstanding loans reached VND 964 billion, leading the entire Quang Ngai province, with a growth rate of 8% per year. In the first six months of the year, loan disbursements reached over VND 185 billion, serving 3,469 borrowers.
These figures not only reflect the scale of the capital, but also demonstrate the effectiveness of a synchronously organized system, from commune-level transaction points and savings and loan groups to a team of credit officers who are always closely involved at the grassroots level.
From seafood processing facilities that create jobs for female workers to lush acacia forests that generate hundreds of millions of dong in income, policy-based credit has been contributing to changing the livelihoods of many households in Binh Son.
This effectiveness also demonstrates that when preferential capital is channeled to the right people, for the right needs, and used for the right purposes, it not only helps a household overcome difficulties but also contributes to creating a new face of development for an entire rural area.
