Hoang Nam Phat Cooperative effectively uses loan to expand production
Hoang Nam Phat Cooperative effectively used capital borrowed from Hai Duong province’s cooperative development support funds, bringing about high profits from agricultural production and trading.
Hoang Nam Phat Cooperative, established in 2019 in Gia Xuyen commune, Hai Duong city, specializes in growing and selling agricultural products.
The cooperative had only 10 members with a cultivation area of 10 ha at first, but now it has 88 members with a total area of about 500 ha, scattered in various districts in Hai Duong province.
From supplying agricultural products for the domestic market, mainly supermarkets and clean agricultural product stores, the cooperative has so far exported goods to many countries such as Laos, Thailand, South Korea, India, and Malaysia.
The cooperative daily exports some 300 tons and domestically sells more than 100 tons of vegetables, tubers, and fruits, with revenue exceeding 30 billion VND/ year.
The cooperative is hiring about 200 workers with per capita income of 6 – 10 million VND/ month.
Besides, about a dozen experts and university students from several African countries are learning in the cooperative’s workshops for application to agricultural production in their countries.
The enthusiastic working atmosphere of the workers to meet export orders and distribute goods to other localities affirms Hoang Nam Phat Cooperative’s sustainable development.
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Last year, the cooperative borrowed 450 million VND from the province's cooperative development support funds at a low interest rate due to an urgent need to build workshops and buy machinery, said director of the cooperative Ho Viet Hoan.
With that amount of money, the cooperative purchased more pesticide sprayers, irrigation and plowing machines, etc. to stabilize production.
As a result, the productivity of the cooperative members increased, while working days and production costs gradually decreased, thereby improving competitiveness.
Thanks to continuous development and profits, the cooperative had paid off the loan by May 2024.
“I would like to access more loans to develop and expand the production scale,” said Hoan.
In that case, Hoang Nam Phat Cooperative will build a high-tech agricultural tourism model to spread the love for agriculture and nature to all tourists as well as disseminating agricultural products of Hai Duong in particular and Vietnam in general to domestic and foreign customers.
MINH NGUYEN