Leverage from concessional capital

Preferential credit policies from Project 1902 of Lam Dong Provincial People's Committee on "Credit policy for young people starting a business in Lam Dong province" are opening up practical directions for young people in their journey to establish themselves and start a business in their homeland. Not only supporting financial resources, the project also arouses the spirit of innovation, creativity, and attachment to modern agriculture and new-style rural areas, where young people are the central force creating positive changes at the grassroots level.

Activities to support youth access to preferential capital sources

Ms. Bui Thi Phuong Thao, a young union member in Ka Do commune, is one of the typical cases that has accessed capital from Project 1902. In 2024, she received 200 million VND from the Don Duong Social Policy Bank Transaction Office to invest in high-tech vegetable production. On an area of ​​4 stars of land, she switched from outdoor production to growing vegetables in greenhouses, applying a smart irrigation system to help save water and increase productivity. "Previously, when growing outdoors, the income was only about 30 - 40 million VND per crop. Now, when producing in greenhouses, the vegetables are beautiful and sell for a good price, each crop, after deducting costs, makes a profit of about 80 - 90 million VND," Ms. Thao shared.

From a purely agricultural household, Mr. Nguyen Huu Nghia, appearing in Don Duong commune, also boldly switched to dairy farming after attending technical training courses. In 2015, thanks to connections from the Youth Union, he was supported with a loan from the Social Policy Bank to invest in a closed barn system, grass chopper, milking machine, and to plant 1.1 hectares of grass and corn as a food source for the herd. Currently, with a scale of 20 cows, milk output of about 4,000 liters per month, his family earns about 300 million VND per year after deducting expenses. Mr. Nghia said that the key factor when starting out is perseverance, especially taking care of the health of livestock, and always being willing to share experiences with like-minded people.

Also in Don Duong commune, Mr. Dang Phuoc Vi also effectively utilized loan capital to implement a greenhouse tomato growing model. With a loan of 200 million VND from the Don Duong Social Policy Bank Transaction Office, Mr. Vi invested 1,000 m² of greenhouse area, an automatic irrigation system, with a total investment of 400 million VND. The first tomato crop brought in a profit of about 100 million VND, opening up prospects for expanding the model in the future. He affirmed: "With the support of capital and technology, young people can completely do agriculture in a more proactive, effective and sustainable way."

Along with supporting specific models, the local Youth Union has implemented many synchronous solutions to improve the efficiency of using start-up capital. In early 2024, a savings and loan group was established in Don Duong commune with 16 members who are union members and young people. The total initial disbursed capital reached 890 million VND, invested in beef cattle farming and high-tech vegetable and flower growing models. This is considered a suitable direction for the production conditions of ethnic minority areas. At the same time, specialized training sessions on start-ups and digital transformation in agriculture attracted nearly 100 union members, helping them access new knowledge and shape modern production thinking.

Along with that, the support network is also strengthened through meetings between youth and government leaders, creating conditions for exchange and removing obstacles in the process of accessing policies. Consulting, career guidance, job introduction and training vocational conferences are widely organized, creating more options on the career path for local youth.

According to statistics, by mid-2025, the Don Duong Social Policy Bank Transaction Office had disbursed capital to 9 young people under Project 1902 with a total outstanding loan of more than 1.8 billion VND. Mr. Nguyen Tien Dung - Deputy Director of the Don Duong Social Policy Bank Transaction Office assessed: "Through the capital source for youth start-ups, the models have shown clear effectiveness. We will continue to accompany and create the best conditions for young people to access capital, contributing to the development of the local economy ".

Models like Ms. Thao, Mr. Nghia, and Mr. Vi are not only vivid slices showing the clear effectiveness of Project 1902, but also affirming the inner strength and aspiration of the rural youth force. When the right policies are implemented properly, the dream of doing business right at home is gradually becoming a reality in many areas of Lam Dong .

Source: https://baolamdong.vn/on-bay-tu-von-uu-dai-381222.html