The city Chairman spoke about this at yesterday’s conference to review the 10-year implementation of the Politburo’s Directive 40-CT/TW focusing on strengthening the Party's role in guiding social policy credit. The conference was held by the Ho Chi Minh City Party Committee.
Chairman Phan Van Mai requested the branch of the Vietnam Bank for Social Policies (VBSP) in Ho Chi Minh City to coordinate with relevant departments and agencies to study credit policy and expand the program to help all students across the country who come to Ho Chi Minh City to study access the city's program if they face financial difficulties.
At the conference, the Chairman of the People's Committee emphasized that the Ho Chi Minh City Party Committee, as well as all party committees and administrations within the city, have fully grasped the significance and importance of social policies. Consequently, they have incorporated these policies into party resolutions, developed specific plans, and ensured the coordination with the Fatherland Front and other socio-political organizations’ opinions during implementation.
Chairman Phan Van Mai commended the active involvement of the entire political system, particularly at the grassroots level, the Fatherland Front, other socio-political organizations and the Ho Chi Minh City branch of the Vietnam Bank for Social Policies in implementing the social policy credit program.
The city Chairman requested that Party committees, authorities, the Fatherland Front, and socio-political organizations continue to clarify the meaning of social policy credit for both lending organizations and beneficiaries.
He requested that the social policy credit program be implemented in conjunction with the poverty reduction target program through sustainable measures such as creating livelihoods, jobs, and vocational training.
Furthermore, the bank’s branch in HCMC should work with related departments and agencies to expand the program to benefit all students in the southern largest city.
Concomitantly, Chairman Phan Van Mai said that the bank’s branch in HCMC should coordinate with the Department of Labor, Invalids and Social Affairs, the city People’s Committee and the People’s Council to issue appropriate policies for good implementation of the credit program.
He also proposed that the Central Government soon issue a new directive on social credit policies particularly for Ho Chi Minh City and some localities which will be allowed to pilot the expansion of policies to be closer to local realities. The Ho Chi Minh City Party Committee is committed to the implementation to achieve results in social credit policies.
At the conference, Director of the Ho Chi Minh City Bank for Social Policies Tran Van Tien said that from the implementation time of Directive 40 to June 30, 2024, the Bank for Social Policies has lent roughly VND7,649 billion (US$310,876,508) to support poverty reduction and job creation. The amount of VND7,649 billion saw an increase of more than VND7,332 billion compared to before the implementation of the Directive 40.
As a result, nearly 560,000 poor households and other policy beneficiaries have borrowed capital from the Bank for Social Policies with loan turnover reaching VND23,542 billion.
Thanks to the humane program, over 9,300 households have escaped poverty while it has created jobs and expanded jobs for nearly 368,000 workers and helped more than 23,300 students from poverty-stricken families to borrow capital for their studies. In addition, the program has provided loans to the poor who use the money to repair and renovate their dilapidated houses.
