Vietnam: Economic development thanks to supporting capital for farmers

Published Jun 25, 2021

Tridge summary

The article highlights the positive impact of the Fund to Support Farmers (PPP) in Vietnam, as demonstrated by Mr. Tran Luu Thuy's family, who used a 100 million VND loan to transition from low-yield pepper farming to a profitable aloe vera cultivation, covering 1 hectare and producing an average of 1.5 tons per month. This example is part of a larger trend among farmers in the district who have received concessional loans, leading to increased production efficiency, improved incomes, and the adoption of various economic models such as papaya and fish farming. These loans have helped address financial challenges and promote the development of high-quality goods and jobs in rural areas. The article emphasizes the effective use of PPP funds, with loans serving the intended purpose, supporting the application of science and technology in agriculture, and leading to timely repayment of loans and the creation of a development fund to assist farmers with capital shortages.

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

Original content

Funds from the Fund to Support Farmers (PPP) are becoming an attractive credit channel, bringing positive effects to farmers in agricultural production. EFFICIENT CAPITAL RESOURCES Mr. Tran Luu Thuy's family, Vinh Binh hamlet, Binh Gia commune, Chau Duc district started converting to planting 2 sao of aloe vera to replace the old, low-yield pepper garden from 2018. After nearly 2 years of conversion, the image was effective. However, to develop this model requires more capital. He went to the district People's Union and got a loan of 100 million VND to expand the area to 1ha. With this money, he invests in equipment, irrigation system, seeds, materials... After nearly 1 year, his aloe vera garden produces an average harvest of 1.5 tons/sao/month. Products are consumed by Vietnam Aloe Vera Company. Currently, his family's average income is from 150-170 million VND/year. In addition to Mr. Thuy's family, the remaining 6 households in the loan period with him also have more sources ...

Source: Baobariavungtau