Thursday, July 18 2019


New measures applied to co-operatives' efficiency

Update: July, 05/2014 - 11:48

HCM CITY (VNS)— The Viet Nam Co-operative Alliance (VCA) has mapped out several measures to raise the operational efficiency of co-operatives in several economic sectors, especially in agriculture, trading and services.

According to Tran Ngoc Hung, VCA deputy chairman, the city had nine co-operative unions and 537 co-operatives in all sectors, including trading and services, transport, industry, agriculture, credit funds, environmental hygiene, housing and education.

Although some cooperatives have operated effectively, others have faced difficulties in production and trading, with 78 co-operatives suspending business since 2012.

Speaking at a meeting in HCM City yesterday, Hung said that, in the near future, small co-operatives would be merged, and co-operatives that have operated ineffectively for long periods would be dissolved.

As planned, the alliance would organise training courses for co-operatives, Hung said, adding that it would also help them make greater use of e-commerce.

Regarding the agricultural sector, he said that VCA would focus more on organising trade promotions to seek more outlets for agricultural products, as well as instruct co-operatives to combine agricultural production with eco-tourism services.

To raise their competitiveness, Hung encouraged co-operatives in the craft and industrial sectors to invest in upgrading their production technology.

In addition, VCA will promote stronger linkages among co-operatives and between manufacturing firms and co-operatives, and will urge more of them to join HCM City's price-stabilisation programme on essential goods.

Hung said that the city should help co-operatives access bank loans to help them expand their businesses.

Many of the co-operatives do not qualify for bank loans due to a lack of assets that could be used as collateral, he said.

Ngo Van Nam, deputy director of the Tan Thong Hoi Dairy Co-operative, said the city People's Committee should also consider granting land-ownership certificates for co-operatives so they can feel more secure about their investments.

The city's business cooperative sector is expected to achieve a growth rate of 12 per cent this year, accounting for 1.1 per cent of the city's GDP, according to the VCA. — VNS

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