There have been 202 cooperatives across the province

The meeting

    Up to now, there have been 805 cooperative groups and an Alliance of high productivity clubs with a membership of 30,274 across the province. Basically, the model of cooperative groups has operated effectively as it was constructed as a practical demand of their members to offer a mutual assistance in the process of production and on a voluntary basis. Only in 2008, there were 28 newly-established cooperatives with the total chartered capital of nearly VND110 billion, a membership of 438 and 274 workers. That same year, 13 cooperatives were strengthened, 8 cooperatives which failed in business were dissolved and 4 markets were transferred to the cooperatives to be managed and operated. There have been 202 cooperatives with the total chartered capital of VND393 billion, a membership of 31,073 and 5,936 workers until now. The average income is approximately VND16.30 million/ year/ worker. In general, cooperatives, Alliance of the cooperatives and public credit funds have shown a steady growth and expanded multi-sector business. A lot of cooperatives have adapted to a market oriented economy, focused on massive investment and large scale production, provided good services and had steady markets and high-quality and prestige products in both domestic and foreign markets.

    In 2009, Steering Committee on building and developing collective economy will attempt to have 20 cooperatives and public credit funds, one Alliance of cooperatives, 100 cooperative groups and 5 Alliances of clubs established and strive to reach 4.2% of added value growth rate, 0.6% of value added to GDP and the average income VND17.5 million/ year/ worker.