In the spirit of Resolution No. 11/NQ-CP, the Social Policy Bank of Binh Phuoc province has coordinated with the Department of Labor, Invalids and Social Affairs to promptly issue a plan to implement the employment program of Binh Phuoc province for the period 2017 - 2020 and the period 2021 - 2025, deploying loans to create jobs, maintain and expand employment.

In the first months of 2023, the Binh Phuoc branch of the Vietnam Bank for Social Policies has disbursed loans to 17,609 customers with a loan turnover of VND 773,458 million (as of May 31, 2023).

The credit lending programs under Resolution No. 11/NQ-CP of the Government have supported job creation, maintenance and expansion for 21,606 workers. The total source of policy credit loans in the province is 3,664 billion VND.

Of which, the capital source for loans to support employment and maintain and expand employment is 590,574 million VND, the source from the National Employment Fund is 67,055 million VND, the capital source mobilized by the Vietnam Bank for Social Policies is 179,994 million VND, the capital source for loans according to Resolution No. 11/NQ-CP of the Government is 150,000 million VND, the capital source entrusted by the local budget to the Vietnam Bank for Social Policies for loans is 193,525 million VND.

Total outstanding debt to date has reached VND 588,319 million with 12,114 customers still in debt, with an average outstanding debt of VND 48.57 million/customer. By May 31, 2023, overdue debt is only VND 252 million, accounting for 0.04% of the total outstanding debt of the program.

According to Resolution No. 11/NQ-CP, the capital loan plan for the period 2022 - 2023 is 534,120 million VND, of which 222,100 million VND will be built in 2022 and 312,020 million VND will be built in 2023. However, in 2022, Binh Phuoc province was assigned by the Central Government 150,000 million VND in capital for implementation, but up to now, capital has not been allocated in 2023.

Policy credit capital has expanded employment opportunities for people in Binh Phuoc province, creating many new jobs to increase income and improve living standards, contributing to making agriculture and rural areas truly prosperous, limiting illegal credit activities and creating social stability.

Mr. Luu Van Bao is a poor household in Tan Tien commune (Bu Dop district) shared: "Poor parents had many children, so when they moved out, the family had no land to produce, the couple worked for hire but it was not enough to cover the family's economic expenses, the couple's jobs were also unstable. Thanks to the attention of the local government, he was considered a poor ethnic minority household and had access to preferential loans from the Social Policy Bank of Bu Dop district. He boldly raised cows for breeding, from which the family's economy gradually stabilized."

According to the Binh Phuoc Social Policy Bank, to be eligible for a loan, workers must legally reside in the locality where the project is implemented, but in reality, many workers do not reside in the same locality as the project. This regulation has caused difficulties for workers to borrow policy loans.

In addition, some opinions say that the 50% reduction in loan interest rates for ethnic minorities living in areas with particularly difficult socio-economic conditions is considered inappropriate when poor households, near-poor households and other policy beneficiaries also living in areas with particularly difficult socio-economic conditions have to borrow capital at higher interest rates.

Although Binh Phuoc province is very interested in the loan program to support employment for workers, the capital from the local budget entrusted through the Vietnam Bank for Social Policies for lending is still very limited.

According to the credit plan approved by the Provincial People's Committee, the Provincial Bank for Social Policies has built a loan program to support job creation, maintenance and expansion according to Resolution No. 11/NQ-CP for the period 2022 - 2023 of VND 534,120 million, but up to now, only VND 150,000 million has been allocated, accounting for 28.08% of the total source approved by the Provincial People's Committee.

To remove difficulties in effectively supporting policy loans for workers, the Social Policy Bank of Binh Phuoc province has proposed and recommended to the Social Policy Bank to continue to add more capital sources for loans to support job creation.

Along with that, it is recommended that the Ministry of Labor, Invalids and Social Affairs study and advise the Government and the National Assembly to consider and revise the Employment Law on loan conditions at the project implementation location and the legal residence of the employee in the same district-level area instead of in the same commune-level area as at present.

Provide loans to all subjects in need of employment, self-employment, additional employment, or attracting additional workers. To create suitability for other policy subjects, it is necessary to change the regulations on lending with lower interest rates to ethnic minorities living in areas with particularly difficult socio-economic conditions.