Microfinance - an effective tool for women to escape poverty
Microfinance, which provides preferential micro-credits with simple conditions, is seen as an effective tool to help women beat poverty, develop business and make contributions to the society.
Microfinance is seen as an effective tool to help women beat poverty. (Photo: baothuathienhue.vn)
Hanoi (VNA) – Microfinance, which provides preferential micro-creditswith simple conditions, is seen as an effective tool to help women beatpoverty, develop business and make contributions to the society.
According to Bui Thuy Hang from the State Bank of Vietnam’s Monetary PolicyDepartment, impoverished women are important customers of micro-credit productsas they are positive savers and debt payment rate among women is higher thanmen.
Vietnam now has more than 100 organisations offering microfinance services,including three official organisations of Vietnam Bank for Social Policies(VBSP), the People’s Credit Fund, and Vietnam Bank for Agriculture and RuralDevelopment, and semi-official ones like domestic and internationalnon-governmental organisations, the Vietnam Women’s Union, Vietnam Farmer’sUnion, and War Veteran Association.
Last year, the VBSP gave more than 55.9 trillion VND (2.4 billion USD) inpreferential loans to 2,120 poor and near-poor households, and many other policybeneficiaries. Microfinance showed its efficiency in poverty eliminationefforts as the poverty rate in the country decreased from 58 percent in 1993 tosome 6.72 percent by the end of 2017.
On December 6, 2011, the Prime Minister signed Decision No.2195/QD-TTg on “Approvinga project on developing microfinance in Vietnam until 2020”, with major solutions such as building rational legalenvironment, improving capacity of microfinance organisations, and raisingpublic awareness of microfinance.
The country is also completing a legalcorridor for microfinance activities.
However, the shortage of capital remains the most tremendous challenge to themicro-credit programmes. Deposits at the VBSP only meet 5 percent of lendingdemand, thus, most of the capital depends on State budget or the State’smobilised capital.
In addition, high management costs are also hindering organisations offeringmicro-finance services.
Tran Thi Minh Huong from the National University of Economics said that theGovernment needs to draw up policies to encourage financial and creditinstitutions to invest in microfinance organisations in the role of strategicshareholders. She also suggested higher loan and deposit interest rates thanregulated to ensure that microfinance organisations can mobilise capital forstable operation.-VNA
The Prime Minister has issued Decision 1058/QD-TTg approving a project on restructuring the system of credit institutions in combination with settling bad debt for the 2016-2020 period.
Ho Chi Minh City aims to reduce the number of poor households by 0.8 percent next year and raise the average income per capita of these households by 3.5 times by 2020 compared to 2011.
Microfinance, with easy access to capital, is an effective measure to strengthen the confidence of women and encourage their engagement in production activities, thus improving incomes and reducing poverty, stated Deputy Governor of the State Bank of Vietnam Nguyen Kim Anh.
The programmes have brought about positive changes to rural infrastructure, comprehensively improved the material and spiritual lives of farmers, and contributed to Vietnam's economic restructuring, said PM Pham Minh Chinh.
The festival highlighted the contributions and robust development of Vietnam's revolutionary press over the past century while promoting press products and showcasing the creativity of Vietnamese journalists.
The programme on sustainable poverty reduction has achieved its annual targets for reducing the poverty rate as assigned by the National Assembly and the Government. It has fulfilled five specific objectives and five five-year goals, and met nine out of 12 indicators related to addressing basic social service shortages.
UNICEF stands ready to support the Government in implementing this important law and in continuing to invest in teachers as the cornerstone of a resilient, inclusive, and high-quality education system for all children.
PM Pham Minh Chinh highlighted how Vietnam's revolutionary press has continuously evolved and strengthened over the past century, affirming its role as a sharp and vital political, cultural, and ideological weapon serving the Fatherland and the people in the glorious revolutionary cause of the Party.
Vietnamese Consul General in Fukuoka Vu Chi Mai highlighted the growing demand for Vietnamese workers in Kyushu, especially in Fukuoka, Oita, and Saga prefectures. Currently, the region employs about 35,000 Vietnamese manual workers and over 5,000 IT engineers.
In Vietnam’s case, she said, President Ho Chi Minh demonstrated his strategic vision by founding the revolutionary press a century ago. The late leader understood the press's role not only as a means to reflect the country’s realities but also as a powerful tool to strengthen national unity and inspire the resistance wars and national construction process.
In recent interviews granted to the Vietnam News Agency (VNA)'s reporters in Mexico, prominent figures reflected on the press’s legacy and its global influence.
VietnamPlus e-newspaper of the VNA clinched an A prize in the “Outstanding Press Product” category for its immersive 3D multimedia project, “Epic of Reunification,” a groundbreaking blend of storytelling and technology. The VNA won another A prize for its eye-catching exhibition booth.
Today, the press for foreign service has evolved into a distinct, irreplaceable force, bridging Vietnam with the world and portraying a nation that is stable, peace-loving, and fully integrated into the international community.
At a review conference held on June 21, Deputy Minister of Construction Nguyen Van Sinh praised the province’s scientific, coordinated, and flexible approach. He noted that the early completion reflects the strong commitment of local authorities, the business community, philanthropists, and residents in improving housing conditions for disadvantaged groups.
The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values. Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
During his stay in China’s Guangzhou city from 1924 to 1927 to prepare for the establishment of a Communist Party to lead Vietnam’s revolution, President Ho Chi Minh founded “Thanh nien” newspaper and released its first issue on June 21, 1925.
Vietnam and Cambodia are hoped to strengthen their robust collaboration across various sectors, particularly in resolving remaining border issues to transform the border area into a zone of peace, friendship, cooperation, and development.
The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
Microfinance is seen as an effective tool to help women beat poverty. (Photo: baothuathienhue.vn) 
