Agribank and private economic development. Last article: Sweet fruits from "agricultural and rural" capital

Turning soil into gold

Talking with "barefoot billionaire" Le Van Binh - Director of Nga Hai Cooperative, the first unit in Ha Tinh province to apply Israeli greenhouse technology to grow melons, we can see how important the value of Agribank capital is to farmers in general and the "barefoot billionaire" in particular.

Sharing about his entrepreneurial journey, Mr. Binh said that in 1993, seizing the opportunity from the innovation policy, he and several other farms joined together to establish a cooperative and went to Agribank to borrow capital to develop production.

At that time, the Director of Agribank Nghi Xuan branch, Mr. Nguyen Sy Han, came directly to appraise. Seeing that the farm was then just a wild land, overgrown with reeds, he was both impressed and worried and said: "Mr. Binh, if we don't lend you money, we will lose a "communist soldier" - because we are afraid that a soldier who is not afraid of hardships and difficulties like you will be discouraged. And if we lend you money, we don't know when the bank will get the money back; but I believe in a soldier like you, believe that you can do it, so Agribank will give you a credit loan."

"I know, after that, Agribank Nghi Xuan Branch held many meetings and decided to "break the barrier" to approve a 100 million VND unsecured loan for me. There was only one reason: because they needed people who dared to break through to build their homeland!", Mr. Binh emotionally recalled.

The success of Mr. Le Van Binh and Nga Hai Cooperative always has the support of Agribank. Photo: Duc Kien

In 1993, when common loans for people ranged from 500,000 to several million VND, Mr. Binh's loan of 100 million VND - equivalent to dozens of taels of gold at that time - was a large loan.

"At that time, the money was mainly in 5,000 VND denominations, so I had to use two sacks to carry the money, bring it home and hide it under the bed," Mr. Binh continued the story.

It was those two sacks of money that changed his life - from a farmer starting out with nothing to a pioneer leading the modern agricultural production movement in the area. Thanks to that vision and boldness, Nghi Xuan district has made a strong breakthrough, becoming the first new rural district in Ha Tinh province. Mr. Binh has not only enriched himself but also inspired hundreds of other households in the area.

Since that first loan, Mr. Binh has been with Agribank for 32 years. Because for him, this is the bank that understands farmers the most, understands the opportunities and risks specific to agriculture; understands both the desire to get rich and also accepts the risks of farmers.

"Currently, I still have a debt of 7 billion VND at Agribank and certainly in future projects, I cannot lack the support of Agribank" - Mr. Binh affirmed.

Turn challenges into opportunities

Deputy Director of Bien Quynh Joint Stock Company Hoang Van Long, in Hoang Mai town, Nghe An province, also started his business in 2018 with countless difficulties, the biggest of which was capital. The founding members had to run around everywhere to raise 2 billion VND to build a factory and purchase initial equipment.

The desire to bring the products of his hometown to the national market seemed impossible when he had no capital. "The real opportunity opened up when Bien Quynh accessed a loan from Agribank. At that time, the Director of Agribank Hoang Mai branch, now Deputy Director of Agribank Nghe An branch, Ho Van Hao, directly learned about the situation, encouraged and guided us to build a business development project. Immediately after that, Agribank disbursed the first loan worth 500 million VND," Mr. Long recalled.

After 7 years of being accompanied by Agribank, Bien Quynh has gradually developed steadily. Seafood products such as fish, shrimp... are not only consumed in the domestic market but also present in large and demanding supermarket chains such as BigC, Lotte... Notably, in May 2024, Bien Quynh's products were officially exported to international markets such as the US and Hong Kong, marking a major step forward in the journey to bring the local brand to the world.

Mr. Long said that the company is currently implementing a production expansion project, with a plan to build a 1.7-hectare factory, with a total investment of about 40 billion VND.

"To do business in a large, systematic and professional manner, private enterprises cannot lack the support of banks. For us, Agribank has always been a partner accompanying us in every step of development," Mr. Long affirmed.

Sharing about the actual operation of the Branch, Deputy Director of Agribank Nghe An Branch, Ho Van Hao said that there are many cases like Bien Quynh in the area. Although the private economic sector has developed strongly, private enterprises still face many difficulties. Most of them are small and medium-sized, with limited financial potential and competitiveness.

This is also one of the reasons why private enterprises still face many difficulties in accessing capital. In that context, the trust and companionship of Agribank has given wings to the private economy to develop and reap many sweet fruits!

Source: https://daibieunhandan.vn/agribank-voi-phat-trien-kinh-te-tu-nhan-bai-cuoi-trai-ngot-tu-von-tam-nong-10373760.html