In attendance were Nguyen Ngoc Bao, Chairman of the Vietnam Cooperative Alliance (VCA); Nguyen Quoc Hung, Vice Chairman of the Municipal People’s Committee; and Phung Thi Hong Ha, Vice Chairwoman of the Municipal People’s Council.
Giving a report at the working session, Chairman of the Municipal Cooperative Alliance Le Van Thu said that as of June, 2019, there are 1,430 cooperative groups operating in Hanoi, increasing by 47 compared to 2018, mainly operate in agriculture, aquaculture, and handicraft industry.
Currently, the city has a total of 1,909 cooperatives and People's credit funds, up 46 cooperatives compared to 2018.
Over the past years, the cooperative economic sector has performed well, and step by step confirmed cooperatives’ role and position in the economy, making great contributions to socio-economic development, social welfare, national security and defense.
Last year, the sector’s revenue was estimated at nearly VND4.5 trillion (over US$195 million), up 4% compared to 2017. Total capital was estimated at over VND3.9 trillion (roughly US$169 million), up 9.8% compared to 2017.
Notably, 223 industrial - handcraft cooperatives have played an important role in conserving and developing traditional craft villages, creating jobs for thousands of laborers. Many of them have enhanced scientific and technological application in production while expanding domestic and foreign market.
Meanwhile, nearly 1,000 agricultural cooperatives have focused on supplying in agricultural services; rolling out safe agricultural production; developing large-scale concentrated production areas; introducing farm produce; building collective trademarks; and establishing link chains from production to consumption.
Also, People’s credit funds have improved their operation while timely giving financial assistance to members for business development. To date, the funds have had about 122,000 members with the total capital of more than 12 trillion.
In the first seven months, the Municipal Cooperative Alliance has positively deployed key missions, especially summing up 15 years of implementing Resolution No. 13-NQ/TW on innovating, developing and improving efficiency of cooperative economic sector.
However, Chairman Le Van Thu pointed out several difficulties and shortcomings during performance.
Speaking at the session, Chairman of the Vietnam Cooperative Alliance Nguyen Bao Ngoc appreciated Hanoi’s potentials for collective economic development.
He noted that Hanoi should renew the market system, and tighten control on food safety and hygiene, and environmental protection.
Concluding the event, Secretary of the Hanoi Party Committee Hoang Trung Hai appreciated the achievements by the Municipal Cooperative Alliance, confirming important role of cooperative economic sector.
According to him, it is an indispensable part of the market economy.
He noted that the Cooperative Alliance should be well aware of challenges and potentials to offer concrete solutions.
Furthermore, the city’s entities need to jointly support the cooperatives in developing cooperative economy, he urged.
Agreeing with the alliance’s suggestions, Hai underlined the need to review mechanisms and policies for cooperative economic development.