Thousands of farming households in Ho Chi Minh City have escaped poverty thanks to the city’s fund to support farmers, according to Radio the Voice of Vietnam (VOV).
Hanoi (VNA)💜 – Thousands of farming households in Ho Chi Minh City have escaped poverty thanks to the city’s fund to support farmers, according to Radio the Voice of Vietnam (VOV).
The family of Tran Thi Phai in District 9 was almost a poor household five years ago. They borrowed 1,500 USD from the city’s farmers’ association to grow organic vegetables at home.
It was difficult in the beginning to seek outlets for their products but now they supply the market with approximately 18 tonnes of vegetables, earning 3,500 USD a year.
Phai said, “I hope that the Farmers’ Association will increase loans to help farmers expand their production and improve product quality.”
Vo Van Le of Hoc Mon District borrowed 1,000 USD to buy two cows. After four years, his cow herd grew to six worth 5,000 USD in total.
Le shared, “I’ve sold the calves to clear my debts. I am now much better off.”
Ho Chi Minh City's fund to support farmers was established in 2006 with an initial budget of 1 million USD, which has increased to 5 million USD at present. It has given loans to 24,000 local farming households, helping them escape poverty.
A number of economic models for farming households have been established in Ho Chi Minh City including raising cows and ornamental fish, growing organic vegetables, and producing bamboo and rattan products.
Nguyen Thi Kim Doan, President of An Nhon Tay commune’s farmers’ association, noted, “We have encouraged farmers to form cooperatives for agricultural production and livestock breeding. We have also established a fund to give financial support to disadvantaged households.”
Ho Chi Minh City has been modernising the agricultural sector and helping farmers access technological advances in agricultural production. The city’s farmers’ association is pioneering new credit and accounting software in Vietnam to manage its fund.
Association president Nguyen Thi Bach Mai stressed, “Our fund has helped farmers access technological advances and apply them in their production. Their success will contribute to local economic, cultural, and social development.”
The association expects to increase its funding to 15 million USD by 2020, which will contribute significantly to Ho Chi Minh City’s implementation of Vietnam’s national target program on new rural development.-VNA
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Illustration photo. (Source: VOV)
