Thriive project benefits community

(VOVworld) – Thriive, a US-based non-profit charity organization, was established to reduce poverty toward sustainable growth in developing countries. The Thriive project has been implemented in Palestine, Kenya, Nicaragua, Guatemala, and Vietnam. Since 2005 Thriive has been operating in Hanoi and Hue.

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Program Coordination Committee of Thriive Hanoi and representatives of Thriive US.
 (Photo: ueb.vnu.edu.vn)

Thriive Vietnam is a cooperation program between Thriive US and the Centre for Economic Development Studies (CEDS) of the School of Economics and Business of Vietnam National University, Hanoi.

The project offers non-repayable loans to Vietnamese small enterprises to invest in machinery and technologies, expand production and trade, and improve social responsibility.

Participating businesses are also given development advice and opportunities to link with other business support programs sponsored by domestic and foreign investors.

Thriive encourages businesses to produce products or services that benefit the community in terms of health, medical check-ups, environment, education, and job creation for poor, disabled and ethnic people.

Nguyen Thi Huong Huyen, Thriive US’s Director in Asia, says: “Over the past decade, Thriive has financed about 120 businesses, many of them more than once. 1,446 new jobs have been generated by participating businesses. More than 120,000 disadvantaged people across Vietnam have been given assistance. Thriive Vietnam is considered the most successful among its programs in the world and is receiving the biggest amount of investment.”

Every year CEDS promotes a program to select businesses for loans and the disbursement is made by representatives of Thriive US. CEDS is in charge of keeping track of the borrowers’ pay-back for the next two years and developing a network of Thriive enterprises.

Each company is allowed to borrow a maximum of 10,000 USD without interest. The enterprise will not pay the loan in cash but by providing free vocational training, products, or services for the poor, disadvantaged people, or people with disabilities.

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A Thriive workshop in Hanoi. (Photo: Thriive)

Thanh Chung who represents a beneficiary of the Thriive Hanoi program says: “The Thriive program has held workshops and training courses for small enterprises like us to improve skills in management, marketing, branding, accounting, and taxation. These give us a better understanding of the start-up process from which to set clearer targets for the company.”

Most businesses involved in the Thriive project have achieved remarkable growth and created many jobs. Some have growth rates of 50% a year.

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Participating enterprises in 2015 took photo with Thriive US representatives

(Photo: ueb.vnu.edu.vn)

Nguyen Thuy Duong, manager of the Thriive Hanoi program, says:“Each year we help 16 to 18 companies. This year the coordination board of Thriive Hanoi helped about 22 enterprises. 58% of participating companies continue their charity activities after the project. We’ve set up a powerful network of Thriive enterprises to create positive social changes.”

To increase the program’s effectiveness, Thriive Vietnam’s board has worked closely with charity and humanitarian organizations, the Association of Small and Medium-Sized Enterprises, and the Vietnam Chamber of Commerce and Industry.

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