Nui Phao Mining spreads sustainable values to the community

Hundreds of families have seen their lives positively changed thanks to the economic recovery fund established by Nui Phao Mining through the Dai Tu Bank for Social Policies, in Thai Nguyen province.

Hundreds of families have seen their lives positively changed thanks to the economic recovery fund established by Nui Phao Mining through the Dai Tu Bank for Social Policies, in Thai Nguyen province.

Effectiveness of the preferential loan

In hamlet 8, Tan Linh commune, Dai Tu district, Thai Nguyen province, the family of Mr. Nguyen Van Truong is well known as a young family bravely breaking boundaries and raising horses on a semi-grazing model, which initially brings high economic benefits. 

Six people in Mr Truong's family are living in unfavorable economic conditions. Considering the dependence of agriculture on weather conditions and price fluctuations, Mr Truong and his wife turned to cattle breeding in 2022. With their savings over the years and a loan from the economic restoration fund of Nui Phao Mining, Mr Truong boldly invested in the horse business for economic development. Starting with four horses, the family purchased two more in 2023, bringing the total herd to six horses to implement the semi-grazing horse breeding model. According to Mr. Truong, horses are easy to breed, with great adaptability, few diseases, stable market prices and demand. 

The initial effectiveness of this model has opened new opportunities for economic development both for Mr. Truong's family and other households in Tan Linh commune. Tan Linh commune's farmers' association is now encouraging other farmers to visit and learn from Mr. Truong's family, to replicate the model on a larger scale. Mr. Truong shared in emotions: “In addition to all my luck and hard work, the timely loan with low-interest rate has helped improve my family's income”.

Not only Truong's family, but hundreds of other families in Dai Tu district, Thai Nguyen province, have also seen their lives positively changed thanks to the preferential loan.

The economic restoration fund, implemented by Nui Phao Mining in 2013 and funded by the Bank of Vietnam for Social Policies, Dai Tu branch, Thai Nguyen province, follows the principle of " Giving a fishing rod instead of giving fish" and supports the diversity of livelihood models, to help households overcome poverty. To date, the total value of the fund is over 16 billion VND. 456 households in Dai Tu district had access to the Family Economy Development Loan, of these, 100% paid the loan interest on time, without any bad debts.

Households are mainly using the loans to invest in tea production and tea farm expansion, poultry and cattle breeding, business services etc. Annual surveys indicate that households have generally used the loans profitably, some of them even creating jobs for three to five local people with a stable monthly income of VND 5 to 7 million.

"In establishing this program, Nui Phao Mining has put itself in the position of the local people. This program is about human credit, since most fund beneficiaries are not eligible for the Social Policy Bank's fund, as it is very limited. In particular, the Economic Recovery Fund has created a new wave of external resource socialization for Social Policy Bank activities to help project-affected people, the underprivileged, and other policy-favored beneficiaries access loans for boosting their household economies." said Mr. Nguyen Van Hong, Deputy Director of Thai Nguyen Social Policy Bank. 

Masan High-Tech Materials - a prominent contributor to the socio-economic development of Thai Nguyen Province

Corporate social responsibility and sustainable development

Mr. Craig Bradshaw, Chief Executive Officer of MHT said: "Our community programs aim to build supportive infrastructure and secure better livelihoods for local people". 

In 2023, the company continued to support community programs, including charity activities and initiatives to build infrastructure and develop socio-economic conditions. Total investment for these activities amounted to VND 6.8 billion. Over 4,500 households benefited from these programs, including more than 600 ethnic minority households and 270 vulnerable households.

Nui Phao Mining was recognized as a significant contributor to the socio-economic development of Thai Nguyen province. In 2023, the company fulfilled all taxes and duties, contributing VND 1,414 billion to the state budget. MHT was named as the Vietnamese enterprise with the highest contribution to the state budget of Thai Nguyen province in 2023, with a major contribution to Thai Nguyen's state budget revenue of VND 20,196 billion, exceeding the target set. This is also the highest revenue ever recorded by Thai Nguyen province. 

In 2023, Nui Phao Mining was honored in the "Top 100 Sustainable Enterprises Vietnam" for the sixth consecutive year. This is a recognition of MHT's relentless efforts over the years to pursue the sustainability strategy, integrating the company's growth objectives and spreading positive values to the community.