Local collective economy reaches good results

Part 2: Upholding collective economy’s role in renewal period

Over the past time, the province realized plenty of support policies for cooperatives, improving their operational efficiency and laborers’ income. Province-based cooperatives now work in the right direction, actively contributing to the local socio-economic development.

Widely multiplying role-models

According to provincial Cooperative Alliance, implementing regulations on advanced cooperative norm in 2017, there were many outstanding cooperatives in production-business, namely Tan My, Nhan Duc, Toan Luc, Bau Bang, Minh Giang…

Tran Thanh Co, Director of Nhan Duc agricultural cooperative in North Tan Uyen district’s Hieu Liem commune and his orange garden

In the first half of 2018 alone, provincial Cooperative Alliance also considered and provided 38 projects in the fields of agriculture, transport, trade, industry, home industry…with more than VND56.72billion in loan from the local State budget.

The whole province is now home to 142 cooperatives in terms of transport, agriculture, construction, environment, credit…with 55,284 members and total chartered capital of more than VND721.4billion. Their total revenue over the past six months was estimated at more than VND785.43billion or 46% of the year’s plan. So far, they have also well realized their tax obligation with the average income of laborers at VND70million per person per month.

As planned, the province will continue widely multiplying outstanding cooperatives, creating a motivation for the local collective economy to redress shortcomings for better development.

Further promoting collective economy

According to provincial Collective Alliance, province-based cooperatives in the first half of 2018 took fruits in production and business. There were additional 16 cooperatives, beyond 14.2% of the year’s plan, with 114 members and total chartered capital of VND48.7billion.

So far, province-based cooperatives have generated jobs for 15,000 laborers with the average income of VND75million per person per year. They will further attach special importance to improving their operational effectiveness, step by step removing shortcomings, perfecting methods on production-business while combining services and general trade.

For newly-established cooperatives, they need to ensure all regulations under the Cooperative Law 2012; mobilize resources, diversify business scopes, be proactive to innovate production technologies and  make production expansion. They also need to link with economic sectors to promote production for high economic efficiency.

Nguyen Tien Dung, Vice-Chairman of provincial Cooperative Alliance said that provincial Cooperative Alliance will further guide cooperatives to work under the law; give training for cadres; create favorable conditions for cooperatives and cooperative groups to work effectively; widely multiply effective cooperatives; help cooperatives get access to projects on sci-tech application, loans from provincial Support Fund for Collective Economic Development…

With achievements done over the past time, provincial collective economy has continued affirming its role on the way of integration and new rural construction. Province-based cooperatives have worked effectively in association with the society’s demand towards a goal of generating jobs, eradicating hunger and reducing poverty, promoting the local sustainable economic development