Further improving collective economy’s efficiency

Over the past years, the Party Committee of Lai Thieu ward was proactive to set up annual and five-year programs, plans on further improving the efficiency of the local collective economy, thereby reaching some major results, contributing to the common development of Thuan An town.

Focus on realizing action programs

Implementing central resolutions, action programs and directives of Thuan An town’s Party Committee on improving the efficiency of collective economy, the Party Committee of Lai Thieu ward were proactive to map out annual, five-year programs, plans on collective economic development; instructed collective economic facilities to well realize propaganda work, thereby promoting the local cooperatives and cooperative groups.

Currently, Lai Thieu ward is home to one credit fund and two cooperative groups in effective operation. Particularly, Lai Thieu credit fund now has 59 members with total capital of VND5.1billion. It last year reached VND109billion in mobilized capital, VND93million in pre-tax profit…and is now on good development trend. Whilst, Lai Thieu cooperate group on agricultural production includes 2 small groups with 23 members.

Pham Phu Nam, Chairman of Lai Thieu ward’s People’s Committee said that over the past years, the ward’s Party Committee implemented some tasks, including fostering cooperatives in association with the local industrialization, modernization, economic structure shift and socio-economic development programs. The ward also created favorable conditions for the local cooperatives to work effectively…

Facilitating cooperatives’ development

Along with advantages, Lai Thieu ward’s collective economy has faced certain obstacles on cadres’ competence, investment capital, production scale…for change, Mr.Nam said.

For the local collective economy getting better development, the ward will further make dissemination of information about policies on collective economic development, the Law on Cooperative in 2012 and new documents; encourage the local people to establish cooperatives, cooperative groups for better development…It is known that during the local urbanization process, the ward’s land for production and business has been narrowed. Hence, it is very necessary for the ward to promote cooperative models in line with the local real situation.

Reported by Phuong Le-Translated by K.T

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