Illustrative image (Photo: nhandan.com.vn) Hanoi (VNS/VNA) - Most cooperatives have been harmed by the COVID-19pandemic while only a smallproportion of them have benefited from support policies, heard a forum heldby the Vietnam Cooperative Alliance (VCA) and the United Nations DevelopmentProgramme (UNDP) on March 24.
The forum discussed policy access and solutions to enhance cooperatives'resilience and adaptation in the new normal context.
A survey conducted by the VCA and UNDP showed the COVID-19 pandemic had anegative impact on the operations of the cooperatives at an average level of3.84/5, where 5 was the most serious impact. Tourism sector cooperatives werethe hardest hit with an almost absolute impact rating of 4.83/5.
The survey was conducted on 174 cooperatives in 24 provinces and cities and 34cooperative alliances of provinces and cities. It assessed the impact of theCOVID-19 pandemic on cooperatives in Vietnam as well as the capacity ofcooperatives to adapt during the pandemic.
The revenue and profit of cooperatives also decreased significantly during thepandemic. Statistics showed 82.2 percent of cooperatives have suffered reducedrevenue, of which, 42.5 percent of cooperatives have seen their revenue cut bymore than half. Profits of the cooperatives also declined.
Only a few cooperatives in the monetary and agricultural sectors are stillprofitable.
To cope with the pandemic, the Government has issued many mechanisms andpolicies to support taxes, fees and loan interest rates. Along with that areresolutions and circulars supporting labourers, reducing electricity prices andcutting fees related to a number of travel permits.
However, the survey showed the sector's ability to grasp and access policies isstill limited.
Forty-one percent of the total cooperatives surveyed said they did not knowabout the policy of the zero percent lending interest rate to cooperatives topay salaries for employees who aren't working.
Thirty-eight percent of cooperatives do not understand the policy of reducingthe retail electricity price for production and business activities.
The rate and number of cooperatives benefiting from the support policies isalso very limited, with only 14 percent of cooperatives benefitting fromthe value-added tax payment deadline extension.
The percentage of cooperatives enjoying electricity price reductions andcorporate income tax reductions are only 12 percent and 10 percentrespectively. For the remaining policies, according to the survey, thepercentage of cooperatives benefiting ranges from 3 to 6 percent.
Based on the survey, VCA and UNDP agreed that in the short term, the Governmentshould amend regulations on the conditions for benefits and policies forcooperatives flexibly, in line with reality and the conditions of cooperatives.
In the context of the COVID-19 pandemic, VCA chairman Nguyen Ngoc Bao suggestedthe Government pay attention to solutions and policies on financial support,development of professional knowledge and skills for workers of cooperatives.
Communications should also be promoted so that cooperatives that really needsupport don't miss out.
The policy enforcement mechanism for cooperatives should also be simpler,clear, accessible and easy to implement, he added./.
The forum discussed policy access and solutions to enhance cooperatives'resilience and adaptation in the new normal context.
A survey conducted by the VCA and UNDP showed the COVID-19 pandemic had anegative impact on the operations of the cooperatives at an average level of3.84/5, where 5 was the most serious impact. Tourism sector cooperatives werethe hardest hit with an almost absolute impact rating of 4.83/5.
The survey was conducted on 174 cooperatives in 24 provinces and cities and 34cooperative alliances of provinces and cities. It assessed the impact of theCOVID-19 pandemic on cooperatives in Vietnam as well as the capacity ofcooperatives to adapt during the pandemic.
The revenue and profit of cooperatives also decreased significantly during thepandemic. Statistics showed 82.2 percent of cooperatives have suffered reducedrevenue, of which, 42.5 percent of cooperatives have seen their revenue cut bymore than half. Profits of the cooperatives also declined.
Only a few cooperatives in the monetary and agricultural sectors are stillprofitable.
To cope with the pandemic, the Government has issued many mechanisms andpolicies to support taxes, fees and loan interest rates. Along with that areresolutions and circulars supporting labourers, reducing electricity prices andcutting fees related to a number of travel permits.
However, the survey showed the sector's ability to grasp and access policies isstill limited.
Forty-one percent of the total cooperatives surveyed said they did not knowabout the policy of the zero percent lending interest rate to cooperatives topay salaries for employees who aren't working.
Thirty-eight percent of cooperatives do not understand the policy of reducingthe retail electricity price for production and business activities.
The rate and number of cooperatives benefiting from the support policies isalso very limited, with only 14 percent of cooperatives benefitting fromthe value-added tax payment deadline extension.
The percentage of cooperatives enjoying electricity price reductions andcorporate income tax reductions are only 12 percent and 10 percentrespectively. For the remaining policies, according to the survey, thepercentage of cooperatives benefiting ranges from 3 to 6 percent.
Based on the survey, VCA and UNDP agreed that in the short term, the Governmentshould amend regulations on the conditions for benefits and policies forcooperatives flexibly, in line with reality and the conditions of cooperatives.
In the context of the COVID-19 pandemic, VCA chairman Nguyen Ngoc Bao suggestedthe Government pay attention to solutions and policies on financial support,development of professional knowledge and skills for workers of cooperatives.
Communications should also be promoted so that cooperatives that really needsupport don't miss out.
The policy enforcement mechanism for cooperatives should also be simpler,clear, accessible and easy to implement, he added./.
VNA
