Ha The Manh, one of the founders of the greenhouse orchid planting model start-ups in Lam Dong province, explains the model to guests. (Photo: baolamdong.vn)

Beneficiaries have to stay or work in the province, and can get loans for up to 120 months at preferential interest rates.

The maximum loan amounts are 200 million VND (8,000 USD) for individuals and 2 billion VND (80,400 USD) for businesses.

The goal of the credit programme is to encourage innovation and the creation of new business models.

Lam Dong authorities are assisting 300 young individuals with loans in 2020 – 2025, with 20 of them running start-ups.

They aim to help another 500 in the next five years.