Preferential capital to support labor in the Lao Cai highlands
Lao Cai - Not only supporting people to remove difficulties in production capital, policy credit also creates conditions to help workers access foreign markets.
In residential group No. 10, Van Phu ward, Ms. Hoang Thi Mo's family has just had additional resources for economic development thanks to a loan of 160 million VND from the Lao Cai Provincial Social Policy Bank Branch.
The capital is invested by the family in animal husbandry, afforestation and medicinal plants, gradually expanding production activities, increasing income and creating jobs for members.
According to Ms. Mo, the lending appraisal process is carried out publicly, transparently, and the procedures are relatively convenient.
In the process of using capital, the family also received monitoring and guidance from bank officials, thereby being more proactive in implementing production and business plans.
For households in mountainous areas, where accumulation conditions are still limited, accessing appropriate capital sources is practically meaningful.
Instead of relying solely on seasonal labor or short-term jobs, people can invest in breeds, supplies, expand production areas, develop animal husbandry and take advantage of available labor in their families.
Lao Cai Provincial Social Policy Bank Branch informed that from the beginning of the year to date, the total disbursed revenue of the job creation loan program group reached 990.194 billion VND, with 10,220 customers borrowing capital.
In which, the loan program to support job creation, maintain and expand jobs accounted for the main proportion, with disbursement turnover of 983.4 billion VND for 10,117 customers. On average, each customer received a loan of about 97.2 million VND.
In addition to supporting production and business on the spot, the loan program for workers going to work abroad under contract has disbursed 6.794 billion VND to 103 customers.
On average, each customer borrows about 66 million VND, contributing to reducing the initial cost pressure when workers participate in the foreign labor market.
Mr. Lo Van Tuyen (born in 1996), in Ban Ngoa residential group, Cau Thia ward shared: "Thanks to receiving preferential loans, I had the opportunity to work abroad under orders. After returning to my hometown, I plan to repair the house and support my family in raising livestock to stabilize my life for a long time.
According to leaders of Lao Cai province, preferential capital has contributed to creating conditions for workers, especially rural workers and people in difficult areas, to proactively develop production, create jobs and increase income.
This is also one of the resources to support the implementation of the goal of solving employment, shifting labor structure and ensuring social security in the locality.
To make capital effective sustainably, it is necessary to link lending activities with labor demand forecasting, job counseling, vocational training and labor supply-demand connection.
Supporting people to choose suitable production plans, access market information and improve vocational skills will contribute to increasing the ability to maintain jobs, improve income and limit the risk of re-poverty.
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