Boosting Local Economies: How Accessible Credit Fuels Growth in Can Tho
For nearly three decades, the family of Le Thi Phuong Thao in Long Phu commune, Can Tho City, has adapted their livelihood. Starting with small-scale aquaculture around 2013, they’ve grown into a 3-hectare operation, supplemented by 2 hectares of leased land. Today, they cultivate shrimp, snakehead fish and catfish, even experimenting with tilapia. This growth isn’t just about entrepreneurial spirit; it’s directly linked to access to preferential credit.
Officials from Can Tho City’s Department of Labor, Invalids and Social Affairs, alongside representatives from local businesses, participated in a training course on credit policies for job creation in 2026.
The Power of Preferential Loans for Aquaculture
The Thao family’s story exemplifies a broader trend in Can Tho: accessible credit is a catalyst for economic development. In June 2025, they secured a loan of 630 million VND through a job creation support program. This wasn’t about simply obtaining capital; it was about strategic investment.
“My family uses the loan primarily to purchase feed for shrimp and fish farming,” explains Thao. “By paying in cash, we significantly reduce costs compared to buying on credit. This increases production efficiency by over 20%.” This demonstrates the ripple effect of preferential loans – lower input costs translate to higher output and increased profitability.
Representatives from the Can Tho branch of the Vietnam Social Policy Bank visited a model aquaculture farm in Long Phu commune, recognizing the effectiveness of the loan capital in creating jobs.
Beyond Profit: Creating Sustainable Employment
The benefits extend beyond the Thao family’s bottom line. The loan has enabled them to provide regular employment for around 15 people, with peak season employment reaching 20, each earning an average monthly income of 7 million VND. Tran Van Dien, a worker at the farm, highlights the stability this provides: “Before, our jobs were insecure. Since working here, we have a regular monthly income. The work is good, the income is secure, and the owner provides accommodation.”
Expanding Access to Credit: Latest Regulations and Support
Recent policy changes are designed to further expand access to these vital funds. According to Trinh Bich Tuyen, Deputy Director of the Can Tho branch of the Vietnam Social Policy Bank (SPB), the department is actively disseminating information about credit programs to individuals and businesses. Since the beginning of 2026, over 13,100 customers have received a total of 1.012 billion VND in loans under the job creation program, with over 50% allocated to the agricultural sector.
Decree No. 338/2025/ND-CP outlines increased loan limits: up to 200 million VND for individual business households, 10 billion VND for production and business establishments, and up to 200 million VND per employee for job creation, retention, and expansion. Loan terms can extend up to 120 months, with interest rates set at 127% of the current rate for loans to low-income households.
Vietnamese Social Policy Bank officials assist customers with the application process for loans supporting job creation.
Ensuring Effective Implementation and Oversight
The SPB is streamlining the loan application process and working with socio-political organizations and savings and credit groups to ensure transparency and reach the intended beneficiaries. Post-disbursement monitoring is also crucial, providing timely support and ensuring funds are used effectively. To date, the program has contributed to the creation and maintenance of over 122,000 jobs, helping to reduce unemployment in the region.
Tieu Minh Duong, Deputy Director of Can Tho City’s Department of Labor, Invalids and Social Affairs, emphasizes the practical importance of the Employment Law of 2025 and the new credit regulations. However, he acknowledges challenges remain in accessing information and developing loan plans. Increased communication, guidance, and support are needed to ensure businesses can fully benefit from these policies.
Frequently Asked Questions
Q: What is the maximum loan amount available for a small business?
A: Up to 10 billion VND, according to Decree No. 338/2025/ND-CP.
Q: What is the interest rate on these preferential loans?
A: 127% of the current interest rate for loans to low-income households.
Q: How can businesses access these loans?
A: Through the Vietnam Social Policy Bank (SPB) and its network of branches, working with socio-political organizations and local credit groups.
Q: What types of businesses are eligible?
A: Individual business households, production and business establishments, and those focused on job creation, retention, and expansion.
Did you know? The job creation loan program has already supported over 13,100 customers in Can Tho City since the beginning of 2026.
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