More legal framework for the development of collective economy and co-operatives

Deputy Prime Minister Le Minh Khai, Head of the Steering Committee for Renovation and Development of the Collective Economy, Cooperatives has assigned the Ministry of Planning and Investment to consult provinces and centrally-run cities about the draft Government’s decision on the development plan for collective economy and cooperatives in the period of 2021-2025.

The ministry then would collect opinions, complete the draft and submit it to the Prime Minister for consideration and approval.

Earlier, the Prime Minister approved the Strategy for the development of the collective economy and co-operatives for the period of 2021-2030.

Under the strategy, Việt Nam targets to have about 140,000 cooperative groups, with 2 million members, 45,000 cooperatives with 8 million members, 340 cooperative unions with 1,700 member cooperatives by 2020.

As many as 60-70 per cent of the total co-operatives nationwide are expected to operate effectively. At least 25 per cent of managers of the co-operatives are expected to graduating from universities and colleges.

About 80% of cooperative directors receive primary training in the director profession.To step up the application of high technology in the agricultural sector, the country expects to have over 5,000 cooperatives and 500 co-operative groups apply high technology to agricultural production and consumption by 2030.

The country’s agriculture sector would also speed up implementing origin traceability for agricultural products; strengthening linkages between enterprises and co-operatives.

It is expected that about 50% of agricultural co-operatives would link with enterprises in the value chain. Co-operatives with poor performance and cooperatives that have not been converted or reorganised in line with Law on Cooperatives 2012 would be closed.