Vinh Long province focuses on private sector and credit support

Vinh Long province is implementing strategies to bolster its private sector and support rural livelihoods through targeted credit policies. The province currently hosts over 13,400 active enterprises, with small and medium-sized businesses accounting for more than 97% of the total. This private sector contributes approximately 67% of the Gross Regional Domestic Product (GRDP) and provides employment for 52% of the local workforce.

To enhance competitiveness, provincial authorities are focusing on administrative reforms and addressing bottlenecks related to capital, land, infrastructure, technology, and market connectivity. Officials have suggested developing a “Vinh Long Business Health Index” to monitor enterprise activity, scale transitions, and access to resources.

In rural areas, policy-based credit is playing a significant role in poverty reduction and economic development for women. Access to preferential loans has enabled local residents to invest in livestock and agricultural models, transitioning from unstable manual labor to stable, sustainable income streams.