Strengthening the Party's leadership over social policy credit.

Prime Minister Pham Minh Chinh presides over the nationwide online conference. (Photo: VNA)

After 10 years of implementation, Directive No. 40 and Conclusion No. 06 of the Central Party Secretariat have demonstrated the consistent policy of the Party and State in developing the economy in conjunction with achieving poverty reduction goals and ensuring social security. The total credit capital over the past 10 years reached 373,000 billion VND, nearly 2.8 times higher than in 2014. This capital has been invested in 100% of communes, wards, and towns nationwide, with priority given to ethnic minority and mountainous areas, remote areas, and areas with special difficulties... with over 12.9 million customers receiving loans to support production, business activities, and job creation.

Delegates attending the conference at the Lao Cai province venue.

In Lao Cai province, over the past 10 years, 351 billion VND has been allocated to supplement capital to meet the economic development borrowing needs of the poor and policy beneficiaries, contributing to reducing the poverty rate. The average annual poverty reduction rate across the province reached 4.91%; notably, the poverty rate among ethnic minority households and in disadvantaged areas has dropped to only 18.8%.

Concluding the conference, and highly appreciating the results achieved after 10 years of implementing Directive 40, Prime Minister Pham Minh Chinh requested that in the coming time, all levels, sectors, and localities continue to effectively implement the Party's resolutions on social policies; focus resources on improving the capital structure; and increase the loan amount for implementing socio-economic development programs.

The Prime Minister also requested that localities prioritize the allocation of resources through policy banks to address employment issues and support social housing. Emphasis should be placed on prioritizing capital allocation to ethnic minority areas and remote regions, while simultaneously improving credit quality.

Trung Kien - Xuan Anh

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