Prime Minister Phạm Minh Chính addresses the forum. VNA/VNS Photo Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính on Friday chaired a forum on the collective economy and cooperatives, focusing on the role of digital transformation in the development of the sector.

In his opening speech, PM Chính underlined the significance of the event in conveying the spirit of innovation and creativity to the collective economy model, as an important economic factor. 

This spirit means changes in thinking and action, which translate into shifts in operation and management in relation to digital transformation, creating new values, flexibly and appropriately developing the collective economy model to yield high results, reduce costs, and optimise resources. 

Digital transformation is an inevitable trend and a requirement of development, the PM said, adding that it will effectively improve the connection between the State, the market and society; promote economic growth, productivity, and competitiveness; reduce costs for the people and business; while enhancing the management capacity and methods.

PM Chính also stressed the significance of the collective economy in international integration and the socialist-oriented economy. 

Resolution No 20-NQ/TW issued at the fifth session of the 13th Party Central Committee stated that the collective economy is an important economic sector that needs to be reinforced and developed and, together with the State-owned sector, becomes a firm foundation for the national economy, he noted.

The government leader said that over the years, the collective economic sector has seen strong growth in all aspects, including in policy, scale, structure, connectivity, and efficiency.

However, it has yet to meet all development targets and requirements, he said, pointing out challenges in capacity, productivity, unintegrated structure, and modest management ability.

One of the reasons is the slow progress in digital transformation without targeted strategies and actions.

PM Chính said: “The collective economy and cooperatives need to actively innovate their production and business operation, while accelerating digital transformation in order to adapt to the new context. This is an urgent requirement.”

The forum aimed to evaluate the achievements in digital transformation at the national level, and in the collective economy and cooperatives.

It also served as a platform to identify current challenges, difficulties and shortcomings, as well as to propose suitable solutions to promote digital transformation, which will act as the driving force behind the sector’s fast and sustainable growth. 

Other topics of discussion are case studies in the country and abroad, especially on policies and frameworks, and specific directions for different ministries and departments. 

The PM also required that following the forum, the Ministry of Planning and Investment will work with the Government Office on the issuance of a directive, which will serve as a guideline to realise the solutions agreed upon and other development tasks for the cooperatives. 

According to Việt Nam Cooperative Alliance, the country now has cooperatives operating in various fields of the economy, many of them have a new, flexible approach that incorporates technology application and digital transformation, responding to the market needs. 

Statistics showed Việt Nam has a total of 28,237 cooperatives, of which 18,785 are active in agriculture, and 9,452 in non-agricultural sectors (industry, trade - services, transport, construction, environment, civil credit fund, and others). 

A survey also revealed that 83.5 per cent of the cooperatives think that digital transformation is necessary.

A total of 18.9 per cent has had a specific plan and implementation roadmap, while 68 per cent use at least one method of online marketing and sales. — VNS