Policy credit helps dreams come true for people in the city named after Uncle Ho

(PLVN) - 2025 - the year marking half a century since the country was reunited, Vietnam was reunited. After 50 years, Ho Chi Minh City has constantly changed and grown strongly, becoming the leading economic, cultural and educational center of the whole country.

Over the past 20 years, more than 1 million poor households and other policy beneficiaries in Ho Chi Minh City have received policy loans.

In that journey, there is a silent force of "lotus soldiers" who have become the extended arm of the Party, the State and the City when implementing preferential credit policies to realize the goal of economic development associated with creating livelihoods, jobs, income and sustainable poverty reduction, improving the quality of people's lives, building a civilized, modern and humane Ho Chi Minh City.

As a special urban area, a large center of economy, culture,education , training, science and technology, a locomotive, a driving force with great attraction and influence in the region and the whole country, but economic development with rapid urbanization also causes the polarization between rich and poor, and social evils to increase.

To solve this problem, in 1992, Ho Chi Minh City was the first locality in the country to initiate and implement the Hunger Eradication and Poverty Reduction Program (now the Sustainable Poverty Reduction Program).

In particular, the formation and development of the Ho Chi Minh City branch of the Vietnam Bank for Social Policies (VBSP), with its characteristics of both high expertise (monetary management) and broad social character, has created major breakthroughs in implementing sustainable poverty reduction programs and social security programs of the city.

This can be clearly seen from the fact that the People's Credit Fund has a governance apparatus consisting of a Board of Directors at the central level, a Board of Directors representative board at local levels, chaired by the Chairman or Vice Chairman of the People's Committee, and members representing leaders of departments, branches, and socio-political organizations entrusted at the same level.

The Board of Directors at all levels have well implemented the operating regulations and resolutions set forth by their own level and higher levels; promptly advised the People's Council and People's Committee to supplement capital from the local budget entrusted through the VBSP. At the same time, they directed and resolved difficulties and problems to improve the quality of operations of the VBSP at all levels.

Along with promoting the effectiveness of the specific organizational model, closely coordinating with socio-political organizations (Women's Union, Farmers' Association, Veterans' Association, Youth Union) and local authorities, the Ho Chi Minh City branch of the Social Policy Bank has built a network of transaction points covering all wards and communes, ensuring "bringing banking services to the homes of the poor and vulnerable".

Thereby, the regulations of the Government and the City are seriously implemented; meeting the demand for loans and supporting loans to the right subjects, the activities of the Social Policy Bank are increasingly effective and positive in terms of society according to the set goals.

Directive No. 40-CT/TW of the Central Party Secretariat on strengthening the Party's leadership over social policy credit (Directive No. 40-CT/TW) in 2014, followed by Conclusion No. 06-KL/TW dated June 10, 2021 of the Secretariat on continuing to implement Directive No. 40-CT/TW continuously brought new winds to the work of sustainable poverty reduction and ensuring social security.

From the beginning, the city Party Committee and government considered the implementation of policy credit as one of the important tasks in implementing the 5-year socio-economic development plan, contributing to the successful implementation of the Party Congress Resolutions, the Resolutions of the City Party Congress and Party Committees at all levels.

From the early days of establishment with an initial capital of only 152 billion VND, by March 31, 2025, the total policy credit capital managed by the Ho Chi Minh City branch of the Vietnam Bank for Social Policies reached 13,406 billion VND, an increase of 49 times compared to when it was first established. Of which, the capital entrusted from the local budget accounted for 65.2% of the total capital. This demonstrates the close cooperation of the city's Party Committee and government with social policy credit.

Since 1992, Ho Chi Minh City initiated the Hunger Eradication and Poverty Reduction Program (now the Sustainable Poverty Reduction Program) which is implementing phase 7 (2021 - 2025) with 11 poverty line adjustments.

Along with capital from the Government and localities, preferential credit programs implemented by the city branch of the Vietnam Bank for Social Policies, all stemming from real social needs, have entered life and become vivid realities, recognized by local Party committees and authorities, and the majority of people, especially poor households and policy beneficiaries, are excited and trust the leadership of the Party and State.

Policy capital is "covered" to 100% of neighborhoods, hamlets, residential groups, and people's groups in the city, accompanying the poor and policy beneficiaries, contributing to the development of production industries, shifting the structure of crops and livestock, creating jobs for workers, improving the lives of poor households, and asserting their position in society.

Ms. Pham Thi Thanh Tuyen, residing in Tam Phu Ward, Thu Duc City, is an example. Life is always precarious, lacking everything. But since receiving a loan of 100 million VND from the Social Policy Bank for Employment, she has invested in shoelace weaving machines and purchased raw materials. The products of this small processing "workshop" were quickly consumed and became the main source of income for the whole family, from which Ms. Thanh Tuyen has the conditions to send her children to school and take care of her family.

Or like Ms. Vu Thi Nam, residing in Thoi An ward, District 12. Thanks to borrowing policy capital for a long time, Ms. Nam's family as well as many other business households have boldly expanded their investment, increased production scale, improved product quality, created jobs for their family as well as attracted more local workers.

As for Mr. Lai Van Phong's family in Hiep Thanh ward, district 12, the policy capital has provided timely support to his family, from a poor farming household, to now have a stable life and a sustainable escape from poverty.

Mr. Phong said that from a loan of 100 million VND from the Vietnam Bank for Social Policies, his family invested in technology, purchased machinery and cultivation techniques to produce and supply clean vegetables that meet Vietgap standards. The lush green vegetable beds not only bring a stable income but also contribute to improving community health, gradually bringing clean Vietnamese agricultural products closer to consumers.

The lives and dreams that were nurtured and grew from that policy capital are the most beautiful and vivid images of the role of the VBSP in the sustainable development journey of the City named after Uncle Ho.

Statistics from the branch show that over the past 20 years, over 1 million poor households and other policy beneficiaries in the city have borrowed capital from the Vietnam Bank for Social Policies, with a loan turnover of over 21,500 billion VND, contributing to the city having no more poor households according to national standards and the poverty rate according to the city's criteria is now only 0.09%.

Social policy credit programs have covered all vulnerable groups in the city, from students in difficult circumstances who can borrow money to study; households affected by urban renovation projects, housing repairs and economic development; people living with HIV, people after drug rehabilitation, people in labor reform. At the same time, they have become a driving force in sustainable economic development by supporting production households, cooperatives, and cooperatives; implementing credit programs to restore the economy after Covid-19, helping many businesses retain workers to overcome difficulties, restore production, and contribute to local economic growth; building new rural areas in 5 suburban districts; supporting social housing loans, eliminating temporary and dilapidated houses to help people settle down and find work.

In addition to general socio-economic efficiency, policy capital is also the basic premise for effective implementation of environmental protection programs and other economic, cultural and social programs in the city.

According to the report, the city currently has more than 205 thousand customers being supported by the VBSP with a total outstanding balance of policy credit programs reaching more than 12,200 billion VND. Of which, policy credit serving production and business needs to create livelihoods and jobs reached 10,731 billion VND, accounting for 88.0% of the total outstanding balance. These telling figures have affirmed the indispensable role of the VBSP in the development flow of the city named after Uncle Ho.

Continuing the achievements, the Ho Chi Minh City branch of the Vietnam Bank for Social Policies is continuing to write golden pages for the beloved Southern land with the humane capital and enthusiastic hearts of each branch staff so that every citizen of the city has the opportunity to master their lives. Even higher, it contributes to building an inclusive, sustainable economy, where no one is left behind and the right to pursue happiness of every citizen becomes more real than ever.

Viet Hai

Source: https://baophapluat.vn/tin-dung-chinh-sach-chap-canh-uoc-mo-cho-nguoi-dan-thanh-pho-mang-ten-bac-post547121.html