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Chairman of the Economic Committee Vu Hong Thanh explains the amended Cooperative Law (Photo: SGGP) |
This morning, after National Assembly (NA) Chairman Vuong Dinh Hue delivered his speech at a NA full-time deputies’ meeting to discuss a number of issues to be debated at the NA’s upcoming fifth session, Vice Chairman of the National Assembly Nguyen Duc Hai talked about the amendment of the Cooperative Law.
Regarding the proposal to continue to study and fully institutionalize 8 groups of policies to support the collective economy in the Resolution No. 20-NQ/TW to ensure feasibility and effectiveness, the Standing Economic Committee announced to adjust policies according to the overall program on collective economic development in line with the State's ability to balance resources from time to time. The support policy for cooperatives will not be less than the support policy for small and medium enterprises.
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Standing Member of the Finance and Budget Committee Tran Van Lam |
Discussing the draft law, Deputy Nguyen Van Huy from the Northern Province of Thai Binh said that the institutionalization of 8 policies from Resolution 20 is still not paying attention to the specificity of different types of cooperatives, especially agricultural cooperatives.
Mr. Huy and many deputies suggested that the draft amended law should add more specific articles and clauses on preferential policies for collective economic organizations in the agricultural sector.
Standing Member of the Finance and Budget Committee Tran Van Lam proposed not to limit the transfer and purchase rights of cooperative members.
According to him, the draft amended law has been restricting property rights as it does not allow the transfer of contributed capital, avoiding the purchase and sale of shares and contributed capital like an enterprise.
Finding it unconvincing, Mr. Lam said that the capital contributed by cooperative members is each individual’s property which must be guaranteed in accordance with the Constitution and the law but cooperative members are not allowed to buy, sell and transfer to others. He fretted that if the law takes effective, no one wants to contribute assets to the collective economic establishments.
