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Preferential credit loans: A boost for labor export

TQO - According to the report from the Transaction Office of the Vietnam Bank for Social Policies (VBSP) in Lâm Bình District, there are currently 63 customers in the district receiving labor export loans, with a total outstanding balance of nearly VND3 billion.

Inspections conducted by the district’s VBSP Transaction Office show that all individuals taking out labor export loans have secured stable employment and income. Many workers abroad earn between VND30 million to VND40 million per month. Borrowers meet their obligations by paying interest and part of the principal on time.

Mr. Nguyen Quynh Hung, Director of the VBSP Transaction Office in Lâm Bình District, stated: To ensure the labor export loan program achieves positive results, the office has coordinated with district-level mass organizations and local Party committees and authorities to enhance communication efforts. These include disseminating the Party’s guidelines and State policies and laws on labor export, as well as providing up-to-date information on foreign labor markets to help people make informed choices. Notably, the unit has also streamlined procedures to facilitate timely disbursement of loans to contracted workers.

The timely implementation of this preferential credit loan program by the Lâm Bình VBSP Transaction Office in recent years has become an important financial channel, contributing to job creation, sustainable poverty reduction, and promoting socio-economic development in local communities.

Minh Hoa

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