Vietnam looks forward dynamic and effective collective economy

Tuesday, 2021-03-16 11:45:11
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NDO – The Prime Minister has recently approved the Collective and Cooperative Economy Development Strategy for the 2021-2030 period with the aim of promoting a dynamic, efficient and sustainable collective economy.

Under the strategy, the collective economy is expected to become an important component of the national economy with various cooperation models to improve the income and quality of life of its members.

Vietnam strives to have approximately 140,000 cooperative groups with 2 million members, 45,000 cooperatives with 8 million members, and 340 cooperative unions with 1,700 member cooperatives by 2030.

Of which, 60-70% of the cooperatives are anticipated to operate effectively.

Vietnam will also promote the application of high technology in agriculture and try to have over 5,000 cooperatives and 500 cooperative groups applying high technology in the production and consumption of agricultural products.

About 50% of cooperatives are expected to link with businesses through value chains.

The Strategy also encourages the development of collective economy in all industries and areas with the association with main products of localities and One Commune One Product (OCOP) goods.