Located at the northern gateway of Binh Dinh Province, since 2023, Hoai Nhon Town has successfully eradicated poverty in three communes and wards: Hoai Hai, Tam Quan, and Tam Quan Bac. By October 10, 2024, the town had completed its sustainable poverty reduction campaign ahead of schedule across all remaining 14 communes and wards.
In celebration of the 50th anniversary of the province’s liberation (March 28, 1975 – 2025), Hoai Nhon launched a 200-day peak emulation campaign that mobilised the entire community to eliminate poverty and replace makeshift housing for poor and near-poor households. As part of this effort, the town built 283 new homes, enabling 612 households to escape poverty and helping 845 others move out of near-poverty status.
According to Le Minh Duc, Vice Chairman of Hoai Nhon Town People’s Committee and Head of the Representative Board of the Social Policy Bank’s Management Council in Hoai Nhon, these achievements were made possible thanks to the concerted efforts of Party committees, local authorities, mass organisations, agencies, and people from all walks of life across the town’s 17 communes and wards. A key strategy has been mobilising all available resources, including preferential loans from the Social Policy Bank.
Pham Truong, Secretary of the Hoai Nhon Town Party Committee, affirmed that the town’s multidimensional, sustainable poverty reduction programme has been carried out in an effective and methodical manner. In particular, targeted investment of social policy credit capital has proven to be a driving force for economic development, improved livelihoods, and long-term poverty alleviation.
Dang Thi Huong, Director of the Hoai Nhon Town branch of the Vietnam Bank for Social Policies, is one of many credit officers who have dedicated more than two decades to fighting poverty in the coastal areas of Binh Dinh.
According to Huong, a key advantage in recent years has been the consistent commitment of local leaders to poverty reduction and their recognition of the vital role of policy credit in this process.
Thanks to this support, policy credit initiatives in Hoai Nhon have overcome challenges posed by natural disasters and epidemics, consistently meeting and even surpassing planned targets. Notably, during the 2020–2025 period, the town’s credit capital has continued to grow, increasingly meeting the loan needs of poor and near-poor households as well as other policy beneficiaries.
As of March 31, 2025, data from the Hoai Nhon Social Policy Bank showed that its total operating capital had reached over 821 billion VND (32.84 million USD), an increase of more than 334 billion VND (13.36 million USD) compared to the end of 2019. Of this, entrusted capital from the local budget accounted for nearly 116 billion VND (4.64 million USD), or 14% of the total.
Over the past five years, the bank has disbursed loans worth a total of 1.14 trillion VND (45.6 million USD) to more than 26,000 poor and near-poor households, along with other policy beneficiaries.
These funds have enabled nearly 4,850 poor, near-poor, and newly non-poor households to access credit for production and business activities, helping more than 6,000 households rise above the poverty line. This has significantly contributed to the town’s national target programme on sustainable poverty reduction, culminating in Hoai Nhon’s success in eradicating poverty by the end of 2024. Meanwhile, the near-poor household rate dropped from 4.83% at the end of 2021 to just 1.72% at the end of 2024.
One beneficiary, Nguyen Thi Bich Lieu, a resident of Hoi Phu Quarter in Hoai Hao Ward, boldly borrowed 100 million VND (4,000 USD) from the Social Policy Bank’s employment support programme to purchase equipment and raw materials to produce nutritious cereal powder and jasmine brown rice tea for a growing market both within and beyond the province.
Her production facility now sells an average of 500kg of cereal powder and 300kg of jasmine tea each month, generating monthly revenues of over 100 million VND (4,000 USD). The business has also created stable jobs for three workers, each earning between 5 and 7 million VND (200–280 USD) per month.
Social policy credit continues to reach poor and disadvantaged households, including ethnic minority communities, providing them with the means to build more prosperous and hopeful lives.
Looking ahead, the Hoai Nhon branch of the Vietnam Bank for Social Policies is determined to maintain its role as a pillar in the local poverty reduction effort—making practical, lasting contributions toward building a new life for the northern gateway of Binh Dinh Province as it strides confidently into the era of national development.
