HCM City’s collective economic model achieves good results

Ho Chi Minh City has achieved positive results in the implementation of its collective economic model, with an increase in the number of cooperatives and their quality, according to the municipal People’s Committee.
HCM City’s collective economic model achieves good results ảnh 1Cooperatives display their products on the sidelines of a meeting held in HCM City on September 24 to review 15 years of implementation of the Party Central Committee’s resolution on continuing to reform, develop and improve the collective economy. (Source: VNA)

HCM City (VNA) – Ho Chi Minh City has achieved positive results in theimplementation of its collective economic model, with an increase in the numberof cooperatives and their quality, according to the municipal People’sCommittee.

Speakingat a meeting on September 24 to review 15 years of implementing the PartyCentral Committee’s resolution on continuing to reform, develop and improve theeffectiveness of the collective economy, Le Thanh Liem, Vice Chairman of the municipalPeople’s Committee, said the numbers of cooperative groups, cooperativesand unions of cooperatives have increased significantly over the past yearsto reach 2,097; 612; and 6 by the end of last year.

Theyoperate in various sectors, including services and trading, transportation,environmental hygiene, agriculture, industry, craft, and credit, he said.

Over thelast 15 years the city's collective economy has asserted its key role insocio-economic development, he said.

“Thenumber of cooperatives and unions of co-operatives with working capital in thehundreds of billions and thousands of billions is rising. Many have expandedacross the country and export their products to many markets.”

However,there are still limitations in developing the collective economy, he said.

Most cooperativesare small with limited funds, lack business strategies, have poor managementcompared with other economic sectors, and are disadvantaged in the integratingeconomy, he said.

In thenext decade the city would focus on developing the new-style cooperative model,he said.

In 2021-2030,HCM City targets the setting up of 300 cooperatives and five unions ofco-operatives, he said.

Thesector is expected to achieve annual growth of 7 percent, account for 0.6 percentof the city’s economy, and create 30,000 jobs each year, he said.

Toachieve these targets, the city will implement a number of measures such asincreasing the capital of the City Cooperative Member Support Fund to 2trillion VND (86 million USD) by 2030.

It willcontinue to connect credit organisations and cooperatives, provide training tocooperative managers and help promote their products and improve theirtechnologies.

NguyenThien Nhan, Secretary of the HCM City Party Committee, said land and capitalare two difficulties faced by cooperatives for a long time. These have not beenresolved satisfactorily, making it hard for the collective economy to achieve adevelopment breakthrough.

Therefore,departments and sectors need to advise the People's Committee and theDepartment of Planning and Investment to make five-year plans for collectiveeconomic development in each sector, including agriculture, transportation,environmental hygiene, credit funds, housing and others.

Theyshould come up with solutions for difficulties faced by cooperatives related tothe use of agricultural land and borrowing from banks for production, buyingmachinery and building facilities, he said./.
VNA

See more

At the February 14 meeting between Lao Prime Minister Sonexay Siphandone and a delegation of Vietnamese businesses and international enterprises from various countries. (Photo: VNA)

Vietnam strengthens business and investment ties in Laos

Highlighting Laos's vast potential for trade and investment cooperation, Lao Prime Minister Sonexay Siphandone said that Laos is an attractive investment destination, particularly in agriculture, tourism, logistics, and infrastructure development.

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.

Representatives from Lao and Vietnamese agencies at the signing ceremony. (Photo: VNA)

Vietnam, Laos strengthen energy cooperation

A 1,200 MW wind power plant in Nong district, Laos’ Savannakhet province is expected to export 1,526 kWh to Vietnam annually once its first phase completes by the end of 2027, and additionally 1,112 million kWh per year after its second phase becomes operational in 2030./

A view of the Hanoi skyline. While rental properties continue to be in demand, there has also been a notable rise in the number of foreigners looking to buy houses. (Photo: VNA)

Housing demand from foreigners in Hanoi rises

Over several years, Hanoi has increasingly become an attractive destination for foreign workers, with approximately 10,000 new foreign workers are granted licences to work in the city each year.