Vietnam: Raising cobia, Ly Son farmer changed his life, borrowed 2 billion to invest, sold fish with a profit of more than 1 billion VND

Published 2022년 8월 1일

Tridge summary

Agribank Ly Son, a financial branch in a Vietnamese island district, has seen significant growth in capital and outstanding loans since 2014, supporting local farmers in their economic development. The bank's loans have been instrumental in investing in various activities, including aquaculture and garlic cultivation, leading to many households escaping poverty. Examples like Huynh Ngoc Thao and Huynh Van Nam, who found success in cobia farming, show the effective model. Agribank Quang Ngai Branch, with a significant portion of its outstanding loans invested in agriculture, plays a crucial role in providing credit to rural areas. The branch plans to continue this investment, aiming to support farmers in increasing their income.

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Original content

Ms. Le Thi Cua - Deputy Director of Agribank Ly Son District Branch said that although there are still many difficulties in operation due to the characteristics of an island district branch, since 2014, when the national electricity grid was pulled. to the island, Agribank Ly Son as well as gain strength in credit activities and development of products and services. From 8 billion VND of capital, 15 billion VND of outstanding loans in 2014, until now, Agribank Ly Son's capital has reached more than 470 billion VND, outstanding loans are 533 billion VND. From Agribank's loan, many farmers in Ly Son island district have boldly invested in developing household economy, farm economy, fish cage farming, garlic cultivation... Thanks to that, hundreds of households got out of poverty and got rich quickly. In which, typical of Mr. Huynh Ngoc Thao's household with cobia farming model; Huynh Van Nam's household with the model of raising grouper and lobster. Thanks to the methodical and ...

Source: Danviet