Unblocking capital flow to support the development of Ha Tinh cooperatives

(Baohatinh.vn) - The Cooperative Development Support Fund of Ha Tinh province has become an important financial support, helping many cooperatives to remove capital bottlenecks, innovate production and business thinking, increase income for members, and contribute to the increasingly stable development of the collective economy.

Hai Yen Cooperative specializes in producing edible mushrooms and was established in 2021.

In May 2021, Hai Yen Cooperative, specializing in producing edible mushrooms in Huong Binh commune, was established. In the early days, in the context of difficulties in capital and production and business experience, the Cooperative received timely support from the Ha Tinh Province Cooperative Development Support Fund.

Ms. Nguyen Thi Hai Yen - Director of the Cooperative said: “In May, when the Cooperative was established, we had access to loan support in October. At that time, the Cooperative borrowed 400 million VND, thanks to which, we invested in building a factory with an area of ​​over ^600m2 and planted over 30,000 bags of mushrooms. On average, each day the Cooperative harvests and sells 100 kg of fresh mushrooms to the market; revenue is about 800-900 million VND/year, creating regular jobs and stable income for 12 local workers. It was that initial support from the fund that created a great driving force for the Cooperative to develop as it is now, mushroom products have reached far and wide in the market inside and outside the province. It is expected that by October 2025, we will have fully repaid the capital to the fund and also plan to borrow more capital to invest in buying transport vehicles for business purposes.”

Support from the fund has helped Hai Yen Cooperative expand its production scale.

As for Hai Tuyet Aquaculture Cooperative (Loc Ha commune), for more than 10 years standing firmly in the market, there has been no small amount of support and assistance from the Ha Tinh Cooperative Development Support Fund.

Established since 2014, Hai Tuyet Aquaculture Cooperative has received loans from the fund 3 times with a total amount of more than 1 billion VND. Thanks to that, the cooperative has boldly invested in 2 white-leg shrimp farms and 3 high-tech tarpaulin-lined shrimp ponds. Up to now, the model has brought quite high economic efficiency.

Fund officers regularly check and evaluate the effectiveness of loan use.

Ms. Nguyen Thi Tuyet - Director of Hai Tuyet Aquaculture Cooperative shared: "Funding from the fund has greatly supported us in the process of starting up and now maintaining and developing the model. In the coming time, we will continue to borrow more capital from the fund to expand investment in shrimp farms."

Hai Tuyet Aquaculture Cooperative has borrowed capital from the Fund three times.

Since 2010, the Ha Tinh Cooperative Development Support Fund has lent over VND99 billion to 281 projects. In addition to the loan interest rate of 0.43%/month, the fund has also coordinated with sectors and localities to train, advise, and support cooperatives to innovate their production and business thinking towards association, cooperation, and sustainable development.

Thanks to the fund's support capital, many cooperatives in the province have boldly invested in science and technology, expanded production and business scale, improved product quality, brought products to meet 3-star and 4-star OCOP standards and reached out to domestic and international markets. These include: Phu Khuong Seafood Purchasing and Processing Cooperative, Phu Sang Seafood Processing Service Cooperative, Cuong Nga Honey Cooperative, Ngoc Linh Spotted Deer Cooperative, Son Tho Molasses Service Cooperative...

Many products of cooperatives meet 3-star and 4-star OCOP standards and reach far in the international market.

Mr. Tran Quoc Hoang - Director of the Cooperative Development Support Fund of Ha Tinh province said: "To continue to promote the effectiveness of capital sources and support sustainable cooperatives, the fund will strengthen consulting and guidance for cooperatives on effective production and business methods; support to improve capital access capacity; prioritize lending capital in the fields of agriculture, new rural areas and local key products, accompany cooperatives in the production and business process. At the same time, diversify the subjects and forms of lending, in addition to cooperatives, cooperative members and cooperative group members will also be loan subjects of the fund, loans are implemented flexibly, in addition to loans for investment in construction and purchase of machinery and equipment, mainly short-term loans and working capital loans".

According to Mr. Hoang, the unit will increase capital mobilization from various sources, connect with the central fund to receive entrusted resources to partially solve the needs of cooperatives in the area. Regularly check and evaluate the effectiveness of loan use and the impact of capital on production and business activities, income of cooperative members, thereby adjusting support policies accordingly.

Source: https://baohatinh.vn/khoi-thong-dong-von-ho-tro-hop-tac-xa-ha-tinh-phat-trien-post294992.html