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Client success stories

Updated: 2022-09-19 09:12:17

Typical example of good production and business

(VBSP News) In recent years, in many areas across Ba To district (Quang Ngai), there have appeared a number of diversified and effective economic development models and many examples of farmers who are dynamic, dare to think, dare to do, industrious, creative, step by step rise to get rich righteously. Mr. Pham Van Hoa in Go Ret village, Ma Nghit, Ba Cung commune is one such person.

Pham Van Hoa and his wife on the family farm

With the mindset of see failure as the foundation for success, Mr. Pham Van Hoa has now been succeeding in developing an integrated family economic model. This model has been bringing high economic efficiency to his family, helping him to invest in his children's education and build a spacious and solid house.

Mr. Hoa was born and raised in Ba Cung commune. His starting point is from a purely agricultural family, like many other families in Ba To. In 2005, he got married and moved out, his family life at that time was very difficult. He worked as a hired laborer, earning daily wages to take care of his family, therefore, his family life is very precarious.

In 2013, while attending a meeting in the village, he heard from the commune officers about borrowing from the VBSP with low interest rates. As a result, he boldly borrowed VND 30 million to plant acacia trees, raise chickens, ducks and sows at home to increase the family's income. By 2017, the acacia tree reached the exploitation cycle, he sold it to pay the principal to the bank and continued to invest in raising pigs and replanting acacia with the remaining money.

In 2018, he realized that the investment in raising pigs brought high economic value, so he decided to borrow VND 50 million from VBSP to expand investment and develop an economic model for his family. After a year, he earned a profit of over VND 80 million and now he has expanded the area and increased the herd of this economically valuable pig.

Moreover, realizing that with the mountainous terrain, acacia trees play a key role in household economic development, so the need for people's transportation of acacia is much, Mr. Pham Van Hoa decided to buy a truck to serve the needs of transporting harvested acacia trees for people in Ba Cung commune and neighboring communes. With a stable income from raising pigs and trading in trucks, after deducting expenses, his family earns a profit of nearly VND 140 million/year.

With the spirit of self-reliance, Mr. Pham Van Hoa deserves to be a typical example in the development of family economy in Ba Cung commune in particular, and Ba To district in general. His story of overcoming difficulties and escaping from poverty is also a motivation for farmers to constantly strive to build a prosperous life in their homeland.




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


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