Farmers in Vietnam 'make a fortune' thanks to loans from Agribank

Published 2022년 11월 14일

Tridge summary

Agribank Phu Cat has been a crucial financial support for shrimp farmer, Mr. Nguyen Tat Tung, in Binh Dinh, Vietnam, enabling him to invest in advanced shrimp farming technology despite the high initial investment. Over 12 years, the farmer has successfully adopted the SemiBio-Floc technology, achieving higher shrimp yields and sustainability. Agribank Phu Cat has played a significant role in the agricultural sector, providing the majority of its loans to farmers and businesses, excluding real estate. These loans have been pivotal in implementing monetary policy, creating jobs, and enhancing income, with farmer Tung's loan total reaching 13 billion VND in 2022, all repaid consistently. This case highlights the important role of agricultural banking in facilitating modern farming practices and improving livelihoods.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

VIP customers of Agribank Phu Cat During 12 years in shrimp farming on sand with new technology, Mr. Nguyen Tat Tung (38 years old) in Cat Minh commune (Phu Cat district, Binh Dinh) relies on this capital of Agribank, Phu Cat district. Currently, Mr. Tung is a typical example in successful shrimp farming in Binh Dinh with new technology. But in order to have capital to invest in upgrading ponds and buying equipment for shrimp farming according to SemiBio-Floc technology, Mr. Tung must rely on a loan from Agribank Phu Cat, but if he relies on the "internal resources" of his family, “impossible”, because the investment is very high. 12 years ago, when Mr. Tung just returned from Ho Chi Minh City to his hometown to start a business with shrimp farming, he decided to start raising shrimp in the direction of high technology to avoid risks. At that time, to invest in raising the bottom of 4 hectares of ponds, 1.2m high; in which, there are 2 hectares in Cat Minh commune (Phu Cat ...

Source: Agriculture