The Provincial Cooperative Alliance should actively coordinate in advising on the legal provisions on the collective economy

On July 21, Executive Committee of Binh Duong Provincial Cooperative Alliance held the fourth conference of the sixth term to evaluate the results of the first six months of 2022, set out the direction and tasks for the last six months; to report amendment proposals to Law on Cooperatives in 2022. Attending the conference were Mai Hung Dung, Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee; Huynh Lam Phuong, Standing Committee Member of Vietnam Cooperative Alliance, Head of the Southern Agency.

Over the first 6 months of the year, the Provincial Cooperative Alliance established 5 cooperatives, 14 cooperative groups. Currently, the province has 141 cooperative groups with 1,263 members, charter capital of more than VND 39 billion; 217 cooperatives with 46,927 members, charter capital of nearly VND 788.6 billion. The total revenue of the cooperative sector is estimated at more than VND 738.6 billion. There are 192 cooperatives and people's credit funds that fulfilled their tax payment obligations with the amount of nearly VND 5 billion; the average income of employees is from 6.5 to 7 million VND/month for cooperatives and VND 15 million/month for people's credit funds. In the last six months of 2022, the Provincial Cooperative Alliance will strengthen the consultancy and support for cooperatives according to the current guidelines and policies; hold customer conferences to propagate, offer advices and guide cooperatives to set up loan procedures from Collective Economic Development Assistance Fund...

At the conference, delegates also adopted the draft report "Project on establishment of The Cooperative Support Fund of Binh Duong Province" under the Government's Decree No. 45/2021/ND-CP dated March 31st 2021 on the establishment, organization and operation of the Cooperative Development Assistance Fund.

Speaking at the conference, Mai Hung Dung suggested that the Provincial Cooperative Alliance needed to actively coordinate with departments, branches and unions to assess and advise Provincial Party Committee and Provincial People's Committee on provisions of the law on collective economy; develop preferential policies, support collective economic development in accordance with the requirements and conditions of the province; urgently implement the project of Cooperative Development Assistance Fund...

Reported by Tien Hanh – Translated by Ngoc Huynh