Deputy PM pledges favourable conditions for co-operative economic development

Tuesday, 2016-08-30 12:08:13
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Deputy PM Vuong Dinh Hue speaks during a working session with the Vietnam Co-operative Alliance in Hanoi on August 29. (Credit: VGP)
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NDO – Innovating and improving the efficiency of the co-operative economic sector is the consistent policy of the Party and State, Politburo member and Deputy Prime Minister Vuong Dinh Hue has said.

During a working session with the Vietnam Co-operative Alliance (VCA) in Hanoi on August 29, the government official also affirmed that the central authorities always support and create favourable conditions for the agency to perform its assigned tasks for the whole sector’s development.

Deputy PM Hue said that co-operatives across the nation contribute about 5.6% of GDP, helping create jobs and facilitate hunger eradication and poverty reduction.

To promote the deployment of the sector in the near future, he urged co-operative development to be in line with potential, by applying the new model of co-operatives with a focus on household economic development.

The deputy prime minister suggested the ministries and sector overcome difficulties with co-operatives for cooperative alliances to commensurate development potential.

He suggested relevant ministries and agencies help the government and the PM consolidate State management functions and capacity in the collective economic sector, with its core co-operative economy.

The deputy PM also asked the Ministry of Planning and Investment to consider entrusting the VCA to perform several tasks, especially providing public services.

According to statistics from the VCA, the nation has more than 20,000 co-operatives, accounting for about 13 million households with more than 30 million workers, in addition to over 150,000 co-operative clusters with more than two million members.