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Updated: 2021-09-10 15:05:41

The Pride of Buoc Mu’s ethnic group

(VBSP News) In recent years, people living in Buoc Mu, Na Ngoi village, Ky Son district (Nghe An province) have always received support from the young chief - Xong Ba Lau. Through his knowledge and experiences, Lau guides and motivates local people to breed to develop their economy, enhance their income.

Xong Ba Lau is an ideal model in Buoc Mu village

Xong Ba Lau graduated from Agricultural Economics - Hue University Portal in 2013. He was the second in the village to study at university. Lau is the pride of his family and the village. Lau shared that his village benefited from the weather conditions, as well as the fertile land and decided to come back after his graduation.

Lau started his business by planting ginger after doing his research. He wakes up early in the morning to reclamation and grows ginger. The first crop brings lots of productivity. After that, Lau borrowed VND 20 million to invest in ginger and expanded his business to breed. He became successful in his hometown after 3 years. He was voted as the chief village in 2017. His wife expressed her happiness when talking about the chief. She said that Lau was a kind person and always supported people with his knowledge. He mentored people to buy cows, fertilizer, and guide them to breed, farming.

To enhance his knowledge, Lau went to Quang Nam to learn ginseng cultivation techniques. He mentors local people to plant ginseng in Pu Sai Lai Leng mountain. He hopes that Pu Sai Lai Leng ginseng will be good as Ngoc Linh ginseng.

Chairman of the People's Committee in Na Ngoi village - Mua Ba Gio shared that Buoc Mu hamlet had 61 households, 1 Saving and Credit group with 44 members with a total debt of VND 1,3 billion. Lau has well disseminated and implemented preferential credit policies, propagated people to repayment, interest payment in due date. Besides, he also guides them to raise and plant crops, working closely with the Management Board of the Savings and Credit Groups to support members.

Currently, Lau is a member of the Savings and Credit group. He has been lending VND 40 million from the VBSP branch to develop his business. His income reaches VND 100 million per year. He also owns 3ha of peach, 2ha ginger, 1ha Himalayan ginseng, 12 cows and buffaloes and hundreds of chickens. Xong Ba Lau is the pride of Mong people, as well as an ideal model of economic development.




Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year