Cooperatives indispensable in agriculture-based economy: seminar

Illustrative image (Source: VNA)

Hanoi (VNA) – Minister of Agriculture andRural Development Le Minh Hoan emphasised the important role by cooperatives inthe agriculture-based economy at a seminar held by Radio The Voice of Vietnam(VOV) in Hanoi on April 6.

Without cooperatives, agricultural production cannot be transformed into the agriculture-based economy nor a multi-valueproduction sector formed as set in a resolution by the Party Central Committee onagriculture, farmers and rural areas by 2030 with a vision towards 2045, theofficial said.

“It’s time to regain confidence to cooperatives amongnot only farmers but also the entire political system,” he continued, addingthat the trust will generate capital and resources for cooperatives to grow.

Minister of Agriculture and Rural Development Le Minh Hoan (Photo: VNA)

Chairman of the Vietnam Cooperative Alliance NguyenNgoc Bao said the cooperative economy and cooperatives have experienced extraordinary developments in both quantity and quality, especially in northernmidland and mountainous and Central Highlands localities.

Notably, more and more youngsters are starting theirbusiness with a model of cooperatives, he said, adding that up to 40% ofproducts under the “One Commune-One Product” (OCOP) programme are from cooperatives.

Regarding amendments and supplements to the Law onCooperatives, Bao said they should create momentum for cooperatives in the newperiod, as well as a legal framework for people to join the model voluntarily.

Deputy Minister of Planning and Investment Tran DuyDong pointed to bottlenecks to the development of cooperatives which, he said,lie with land and capital.

Therefore, the law should make it easier forcooperatives to access loans, and encourage members to contribute to theirfunding, he said./.

VNA