Collective and Cooperative Economy Development Strategy Approved

11:18:07 AM | 3/19/2021

The Prime Minister recently adopted the Collective and Cooperative Economy Development Strategy in 2021 - 2030.

The strategy aims to encourage the development of the collective economy in all industries and regions of the country, to prioritize the development of cooperative models aligned with value chains, main national and local products and the One Commune One Product (OCOP) program.

Accordingly, by 2030, the country will strive to have about 140,000 cooperative divisions, with two million members; 45,000 cooperatives with 8 million members; and 340 cooperative alliances with 1,700 member cooperatives. Well-performing cooperatives will account for 60-70% of total cooperatives nationwide. To step up high-tech application in the agricultural sector, by 2030, Vietnam will have over 5,000 cooperatives and 500 cooperative alliances applying high technology to agricultural production and consumption; apply traceability for agricultural goods; and strengthen connectivity along value chains between businesses and cooperatives to make about 50% of agricultural cooperatives linked to value chains.

By Thu Ha, Vietnam Business Forum