Prime Minister Nguyen Xuan Phuc stressed that developing the collective economy must start from people’s demand, during a teleconference in Hanoi on October 14 reviewing the 15-year implementation of the resolution on renewing, developing and improving the efficiency of the collective economy and cooperatives.
Deputy Prime Minister Vuong Dinh Hue highlighted that the collective economic sector has escaped from the prolonged weakness while addressing a forum in Hanoi on October 14.
While positive results have been achieved getting people to work together as part of a cooperative, there’s still limitation in its development, said Vo Thanh Thong, Deputy Minister of Planning and Investment.
Ho Chi Minh City has achieved positive results in the implementation of its collective economic model, with an increase in the number of cooperatives and their quality, according to the municipal People’s Committee.
Ho Chi Minh City is set to establish 50 new cooperatives and one cooperative union this year and hopes to push the annual growth of the collective economy to 10 percent and its contribution to the city’s economy to 0.6 percent.
The 15-year implementation of a Party Central Committee’s resolution on continuing to reform, develop and improve the effectiveness of the collective economy will be reviewed.
Politburo member and permanent member of the Party Central Committee’s Secretariat Le Hong Anh has highlighted the need to roll out incentives for collective economic organisations and cooperatives to consolidate their operations.