The resolution was adopted at the fifth plenum of the 9th Party Central Committee.

The PM hailed the improving awareness of the collective economic development, evidenced by the 2012 Law on Cooperatives on the back of seven basic principles of the International Cooperative Alliance.

Prime Minister Nguyen Xuan Phuc at the event.

The number of cooperatives increases over years with new models. However, their contribution to the country’s gross domestic product remains modest and tends down.

He suggested learning from international experience to fully tap the power of new-style cooperatives and collective economic models.

Mechanisms to develop cooperatives and working groups must be fine-tuned, and coordination with other economic sectors, especially businesses, strengthened, towards opening up more new markets for farmers, the leader said.

He also asked for facilitating labour training, land and finance-credit policies, science-technology, and infrastructure upgrade, requiring tapping advantages and potential of cooperative models to make profound and basic changes in agricultural production and rural lives.

The number of cooperatives increases over years with new models.

Deputy Prime Minister Vuong Dinh Hue said the outcomes of the teleconference will serve as important scientific evidence to report to the Politburo, thus contributing to policymaking in the near future.

Minister of Planning and Investment Nguyen Chi Dung said since the launch of the resolution 15 years ago and the adoption of the Law on Cooperatives in 2012, the number of effective cooperatives has kept growing, accounting for 55 percent of agricultural cooperatives and about 50 – 80 percent of non-agricultural ones.

In the morning the same day, the Vietnam Cooperative Alliance and the Ministry of Planning and Investment held a 2019 national forum on cooperative economy and cooperatives.

Bac Ninh pushes economic ties with Russia

Secretary of northern Bac Ninh provincial Party Committee Nguyen Nhan Chien hosted a local reception on October 2 for a delegation from the Russia – Vietnam Friendship Association led by General Director of Russia’s Yaroslav Region Export Support Centre Bagrova Natalia.

Growth of economic sectors in the first nine months of 2019

In the first nine months of 2019, industry and construction sector makes up 52.6 percent of the overall economic growth.

Bac Giang implements specific local policies to mobilize resources for economic development and ensure social security

(BGO) – Over the past time, many resolutions with specific local policies issued by the People's Council of Bac Giang province have been implemented effectively. These are policies to create favorable conditions for production development, generate jobs and improve people’s incomes and living conditions, thus creating positive socio-economic changes in the province.

Representative from Lower Silesian Economic Cooperation Agency, Poland seeks community-based tourism development opportunity in Bac Giang

(BGO) - Roman Kozłowski, President of Lower Silesian Agency of Economic Cooperation Ltd, Poland had a meeting with the provincial Center for Investment Promotion and Enterprise Development about community-based tourism development in Bac Giang province.

Deputy Prime Minister active at 5th Eastern Economic Forum

Deputy Prime Minister Trinh Dinh Dung attended the plenary session of the fifth Eastern Economic Forum under the chair of Russian President Vladimir Putin in Vladivostok City on September 5.

Source: VNA