VCA plans support polices to spur cooperatives’ development
The Vietnam Cooperative Alliance (VCA) will concentrate on devising support policies in terms of capital, land, technology and market access, while building a value chain model connecting households, cooperatives and businesses, said VCA President Vo Kim Cu.
Thua Thien-Hue (VNA) – The Vietnam CooperativeAlliance (VCA) will concentrate on devising support policies in terms ofcapital, land, technology and market access, while building a value chain modelconnecting households, cooperatives and businesses, said VCA President Vo KimCu.
Addressing the third meeting of the fifth VCA CentralCommittee on July 20 in the central province of Thua Thien-Hue, Cu said thealliance will also focus on human resource training and encourage thedevelopment of people’s credit funds.
According to the official, the Cooperative Law 2012has showed a number of shortcomings that need amendments and supplements tocreate a more favourable legal corridor for cooperatives to operate equallywith other economic components and businesses.
Participants at the two-day event discussed thecollective economic situation in the country and the performance of the VCA inthe first half of 2017 and its tasks for the rest of the year.
Currently, Vietnam has over 20,000 cooperatives and15,000 cooperative groups operating in various fields including agriculture,trade-service, construction, transportation and credit.
Of the total, more than 10,000 cooperatives havereformed and registered for operation while over 3,750 others were establishedunder the Cooperative Law 2012.
Total assets of the cooperatives exceed 12 trillionVND (around 528.6 million USD), with average revenue of more than 4.3 billion VNDper year, 949 million VND higher than that in 2013. Average income of labourersin the cooperatives is 43 million VND per year, a rise of 17 million comparedto that in 2013.
However, many transformed cooperatives under the CooperativeLaw 2012 remain small with limited financial and infrastructure capacity andloose connection with value chains.-VNA
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Illustrative Image (Source: VNA) 
