Cooperatives in Ho Chi Minh City still face difficulties

The Cooperative Alliance of Trade Unions in Ho Chi Minh City - Saigon Co.op this morning hosted a conference on removing difficulties for cooperatives in fields of agriculture, trade, services and handicrafts.

At the conference

At the conference, cooperatives talked about obstacles and difficulties in borrowing, renting business premises and granting certificates of land use rights to facilitate production and business expansion.

Vice Chairman of Saigon Co.op Le Tuan Tai noted the difficulties of cooperatives and said that the Cooperative Alliance of Trade Unions in Ho Chi Minh City will connect with functional agencies to handle the obstacles.

A representative of the Capital Aid Fund for Cooperative Members of Ho Chi Minh City (CCM Fund) said that the CCM Fund will provide a loan of up to VND100 million (nearly US$4,000) for each member to support cooperatives having demand to expand their production and business.

The CCM Fund is an economic–social organization under Saigon Co.op, unprofitably operating to give capital to economic sectors in the city so its interest rate would be lower than those of commercial banks.

Besides, its fixed funding fees would be applied throughout the loan term and funding application documents and procedures are simple and the disbursement process is rapid.

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