The Vietnam Challenge Fund (VNCF) has effectively assisted thedevelopment of small and medium-sized enterprises as well as hungereradication and poverty reduction in disadvantaged areas.
At the conference to review the two-year operation of thefund in Hanoi on June 4, President of the Vietnam Chamber of Commerceand Industry (VCCI) Nguyen Tien Loc praised it as a creative project.
“Despite its risky investment, the fund has madeactive contributions to hunger eradication in its targeted provinces,”he stressed.
Over the past two years, the VNCFhas backed eight projects, ranging from agriculture, fishery,handicraft, to vocational training in the northern provinces of ThanhHoa, Bac Giang, Quang Ninh, Bac Kan and Yen Bai.
Director of the Green Ocean Development and Investment Joint StockCompany Vu Huy Thu, one of the VNCF’s beneficiaries, said that hiscompany’s project to protect and sustainably develop a marine wormspecies has opened up a new direction for aquaculture in Vietnam.
It has also generated jobs for local workers andequipped local people with knowledge on protecting the highly endangeredworm species (scientifically known as Sipunculus nudus Linnaeus) aswell as the ecological environment in Quang Ninh province, he added.
Through projects, VNCF has also helped buildschools and workshops and procure machinery and equipment in service ofvocational training poor people with disabilities in Bac Giang province,and open refresher courses for female and ethnic executives of smallenterprises.
Lam Van Thuong, a Tay ethnic man inLao Cai province, praised a business start-up training course under theVNCF’s project, saying it provided him with business knowledgemanagerial skill.
The VNCF, sponsored by theFord Foundation and managed by the VCCI Business Development Institute,was launched in 2008 to promote business and production creativeness andcontribute to socio-economic development./.
At the conference to review the two-year operation of thefund in Hanoi on June 4, President of the Vietnam Chamber of Commerceand Industry (VCCI) Nguyen Tien Loc praised it as a creative project.
“Despite its risky investment, the fund has madeactive contributions to hunger eradication in its targeted provinces,”he stressed.
Over the past two years, the VNCFhas backed eight projects, ranging from agriculture, fishery,handicraft, to vocational training in the northern provinces of ThanhHoa, Bac Giang, Quang Ninh, Bac Kan and Yen Bai.
Director of the Green Ocean Development and Investment Joint StockCompany Vu Huy Thu, one of the VNCF’s beneficiaries, said that hiscompany’s project to protect and sustainably develop a marine wormspecies has opened up a new direction for aquaculture in Vietnam.
It has also generated jobs for local workers andequipped local people with knowledge on protecting the highly endangeredworm species (scientifically known as Sipunculus nudus Linnaeus) aswell as the ecological environment in Quang Ninh province, he added.
Through projects, VNCF has also helped buildschools and workshops and procure machinery and equipment in service ofvocational training poor people with disabilities in Bac Giang province,and open refresher courses for female and ethnic executives of smallenterprises.
Lam Van Thuong, a Tay ethnic man inLao Cai province, praised a business start-up training course under theVNCF’s project, saying it provided him with business knowledgemanagerial skill.
The VNCF, sponsored by theFord Foundation and managed by the VCCI Business Development Institute,was launched in 2008 to promote business and production creativeness andcontribute to socio-economic development./.
