Praising the VCA’s role and contributions to the country’s socio-economic development and stability over the past years, Politburo member and Deputy PM Phuc asked the alliance to form plans for the implementation of the new-style co-operative model.
The development of the collective economy must be compatible with the market economy mechanisms, associated with the process of economic restructuring and growth model innovation, while agricultural restructuring should be attached to building new-styled rural areas, the Deputy PM noted.
He stressed the need for developing specific measures to continue to enhance the development of the collective economy, making it a solid foundation for the national economy.
The country currently has nearly 15,000 co-operative groups with 1.95 million members and over 18,000 co-operatives, operating in all sectors, industries and localities.
Co-operatives have actively participated in poverty reduction and new-style rural area building, in addition to creating jobs for people, especially those in rural areas.
