Social Policy Credit Supports Hoai Nhon in Advancing Social Security

Hoai Nhon, now part of Gia Lai Province, is renowned for its revolutionary historical sites and Tam Quan, the famous "land of coconuts". Today, the locality is undergoing comprehensive socio-economic transformation, marked by a rapidly declining poverty rate and increasingly sustainable social security.

The transaction point of the VBSP Hoai Nhon Transaction Office has consistently provided local residents with convenient access to preferential credit in compliance with regulations

Hoai Nhon has officially eliminated poverty, achieving its sustainable poverty reduction target two years ahead of schedule. The multidimensional poverty rate has fallen to 0%, while all residents now live in permanent houses, completely eliminating temporary and dilapidated housing.

Mr. Le Minh Duc, Secretary of the Party Committee of Tam Quan Ward and former Vice Chairman of the Hoai Nhon Town People's Committee, emphasized that one of the key drivers behind Hoai Nhon's success in social security has been the effective implementation of social policy credit. Preferential credit has provided vital financial support for local people to expand production and business activities, develop marine-based and agricultural economic models, and apply advanced technologies in production. As a result, thousands of households have escaped poverty and achieved sustainable improvements in their livelihoods.

Over the years, the VBSP Hoai Nhon Transaction Office has actively contributed to the implementation of local socio-economic development programs, sustainable poverty reduction initiatives, the New Rural Development Program, and urban civilization programs across the seven wards of Bong Son, Hoai Nhon, Tam Quan, Hoai Nhon Dong, Hoai Nhon Tay, Hoai Nhon Nam, and Hoai Nhon Bac.

According to Ms. Dang Thi Huong, Director of the VBSP Hoai Nhon Transaction Office, for more than 23 years the office has remained committed to ensuring the uninterrupted flow of social policy credit. Credit officers have worked tirelessly, maintaining a close presence at the grassroots level to promptly deliver funds from 15 social policy credit programs to eligible beneficiaries, thereby supporting local development and helping people expand production, improve their incomes, and enhance their quality of life.

Following the administrative reorganization, residents of Hoai Nhon Bac Ward have continued to benefit from the Government's social policy credit through the VBSP Hoai Nhon Transaction Office. As a result, the locality has recorded encouraging socio-economic achievements, including an average annual economic growth rate of more than 13% and per capita income of approximately VND 125 million (about USD 4,800) per year.

"Our current objective is to continue strengthening coordination with VBSP while directing mass organizations and Savings and Credit Groups to ensure that loan appraisal and beneficiary selection are conducted in a transparent, democratic, and equitable manner. This will guarantee that all eligible policy beneficiaries can access preferential credit whenever they have borrowing needs, enabling them to invest in production, develop their livelihoods, and achieve sustainable prosperity", said Mr. Nguyen Van Hoa, Chairman of the Hoai Nhon Bac Ward People's Committee.

As of June 15, the VBSP Hoai Nhon Transaction Office managed total operating funds of more than VND 893 billion (approximately USD 34.3 million). Of this amount, over VND 141 billion (approximately USD 5.4 million) came from funds entrusted by the local government, accounting for 15.85% of total funding.

In 2025, the office disbursed more than VND 249 billion (approximately USD 9.6 million) in preferential loans, benefiting 4,725 poor households, near-poor households, and other policy beneficiaries. Lending was primarily concentrated on key social policy credit programs, including loans for job creation and employment expansion, rural clean water and sanitation, and loans for students from disadvantaged families.

Staff of the VBSP Hoai Nhon Transaction Office provide dedicated guidance to poor households and other policy beneficiaries on the effective use of preferential loans, helping them gradually expand production and business activities and improve their livelihoods

In Hoai Nhon Tay Ward, following the administrative reorganization, social policy credit has served as an important driver of local development. In the first year of operating under the two-tier local government model, the ward achieved or exceeded 23 out of 24 socio-economic development targets. In 2025, the ward recorded 807 production and business establishments, while total retail sales of goods and services reached approximately VND 895 billion (about USD 34.4 million), surpassing the annual target.

Hoai Nhon Tay Ward has considerable agricultural potential, with 1,698.7 hectares of rice cultivation and annual rice production exceeding 12,100 tonnes. The locality is also known for a variety of OCOP (One Commune One Product) specialties, including flower tea, brown rice tea, turmeric starch, Tam Quan coconut rice paper, black glutinous rice, and traditional fish sauce. These advantages provide a solid foundation for developing high-value agriculture linked to processing industries and rural tourism.

Mr. Nguyen Van Phuong, Secretary of the Party Committee of Hoai Nhon Tay Ward, noted that the preferential credit programs implemented through VBSP offer a wide range of loan products with timely disbursement, enabling local residents to access capital promptly for production and business activities, thereby improving their incomes and living standards.

Meanwhile, in Hoai Nhon Nam Ward, Mr. Le Tien Quy has successfully developed a profitable integrated farming model with the support of preferential loans from the VBSP Hoai Nhon Transaction Office. Through two loan disbursements totaling VND 150 million (approximately USD 5,800), he invested in crop cultivation and livestock farming, establishing a family farm with 400 pepper vines, producing an average of 1.2 tonnes of fresh pepper annually, together with four permanent livestock sheds housing six fattening cattle and 70 breeding and commercial pigs. The model now generates annual profits of several hundred million Vietnamese dong, significantly improving his family's livelihood.

Ms. Dang Thi Huong (in pink), Director of the VBSP Hoai Nhon Transaction Office, closely supervises the office's transaction activities

After more than two decades of growth and development, social policy credit has become a vital lifeline for social security in the northern gateway of Gia Lai Province. As it embarks on a new stage of development, the VBSP Hoai Nhon Transaction Office remains committed to strengthening its role as a driving force in sustainable poverty reduction and social security.

The office will continue to effectively implement Directive No. 39-CT/TW of the Secretariat on enhancing the quality of social policy credit. At the same time, it will focus on mobilizing additional financial resources, expanding the coverage of social policy credit, and accelerating digital transformation across VBSP's operations to bring services closer to the people and deliver more accessible, efficient, and customer-centered financial services.

Minh Uyen