Thuan An Town cooperative supporting fund to promote efficiency

Thuan An Town Steering Committee for Renovation and Development of Collective Economy has implemented many solutions, policies and mechanisms to support cooperatives, cooperative groups in the area. From the beginning of the year, the fund has disbursed VND530 million to co-operatives, cooperative groups, farmers for production development. Each newly-established cooperative is able to borrow VND 30 million to cover establishment costs, purchase fixed assets for production and business activities.

According to the evaluation, the cooperative supporting fund have contributed to both economic and social effectiveness, helped many cooperatives to maintain and expand their production and business, created many jobs for local labor. However, the development need of cooperatives, cooperative groups is quite large, while support fund is limited, does not meet the need, so the number of cooperatives, cooperative groups receiving loans is still low.

Reported by Thanh Hong – Translated by Ngoc Huynh

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