Survey on the implementation of Law on Cooperatives 2012

On July 26, a delegation of the Central Committee led by Ms. Chu Thi Vinh, Deputy Director of Department of Economic Cooperation under Ministry of Planning and Investment, examined the implementation of Law on Cooperatives 2012 and surveyed the collective economic development in the province.

According to report of Department of Planning and Investment, since Law on Cooperatives 2012 took effect, the cooperative development in the province has had positive changes. The Provincial People's Committee has directed the Provincial Cooperative Union to actively propagate the Law on Cooperatives in 2012 and its sub-law documents, supporting policies and incentives related to the economic and cooperative economy in the province. At present, the province has 222 cooperative groups, with 2,062 members, working capital of 47 billion 975 million VND; There are 231 cooperatives operating under Law on Cooperatives 2012, with 47,628 members, charter capital of more than VND 865 billion. The average income of employees is from 6.5 million to 7 million VND/worker/month at cooperatives and 15 million VND/worker/month at People's Credit Funds.

At the meeting, the provincial functional branches proposed some issues, such as: Law on Cooperatives 2023 (amended and supplemented) approved by the National Assembly and taking effect from July 1, 2024, needs a guiding decree from the Government soon; relevant ministries and branches shall issue instruction circulars; Ministry of Agriculture and Rural Development and Ministry of Planning and Investment need to agree on guidelines for classification and assessment of cooperatives...

At the meeting, the delegation's representatives noted opinions and recommendations and will soon submit them to competent authorities for settlement.

Reported by Thoai Phuong - Translated by Ngoc Huynh