Forum highlights collective economy, cooperatives' contributions

The collective economy and cooperatives have made important contributions to the country's economic growth, social security, and equality, and created many jobs for domestic laborers, especially the disadvantaged in society.
An overview of the 8th National Farmers' Forum. (Photo: VNA)

An overview of the 8th National Farmers' Forum. (Photo: VNA)

Deputy Prime Minister Le Minh Khai on October 12 made the remarks at the 8th National Farmers’ Forum with the theme “Vietnam Farmer's Union participates in the development of the collective economy in agriculture”, which drew the attendance of 100 outstanding Vietnamese farmers and representatives of 63 exemplary cooperatives, as well as numerous experts and scientists.

In recent years, the collective economic sector has developed in both quantity and quality while farmers' unions and members play a leading role in the development of the collective economy, Khai said.

He pointed out numerous difficulties that cooperatives are facing, including challenges in terms of capital, land, agricultural product consumption, management capacity, and policies, among others.

Deputy Prime Minister Le Minh Khai addresses the forum. (Photo: VNA)

Deputy Prime Minister Le Minh Khai addresses the forum. (Photo: VNA)

The Deputy PM suggested the Vietnam Farmers' Union (VFU) honor and multiply effective collective economic organizations, promote the results achieved in recent times as well as guide the establishment of more cooperatives and cooperative groups on the basis of professional associations.

It is essential for cooperatives to be proactive and creative, and innovate their ways of thinking and working, he said, adding that their products must have brand names and meet the requirements of the domestic and world markets, especially associated with the One Commune One Product (OCOP) Programme

Digital transformation should be applied to production and business activities along with the adoption of new scientific and technical advances to modernize production and improve product competitiveness, Khai went on.

Addressing the forum, Chairman of the VFU Central Committee Luong Quoc Doan highlighted the role of the collective economy and cooperatives in national economic growth, creating jobs and new-style rural communities.

Through the activities of its chapters, the union has attracted nearly 570,000 farmer households, contributing to the establishment of over 23,000 collective economic models that operate effectively, he said. They include over 3,800 cooperatives and over 19,000 cooperative groups with the average revenue of each cooperative reaching VND4.7 billion (US$193,300) and a profit of VND350 million a year.

The forum focused mainly on a number of major issues, including the current development situation of the collective economy in Vietnam. Participants also proposed recommendations on mechanisms and policies to promote the development of the collective economy in the agricultural sector.

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